B. Riley Equities Analysts Decrease Earnings Estimates for L.B. Foster (NASDAQ:FSTR)

L.B. Foster (NASDAQ:FSTR) – Research analysts at B. Riley cut their Q3 2024 earnings per share (EPS) estimates for shares of L.B. Foster in a research report issued to clients and investors on Wednesday, August 14th. B. Riley analyst A. Rygiel now anticipates that the basic materials company will post earnings per share of $0.52 for the quarter, down from their prior estimate of $0.55. B. Riley has a “Neutral” rating and a $21.00 price target on the stock. The consensus estimate for L.B. Foster’s current full-year earnings is $1.40 per share. B. Riley also issued estimates for L.B. Foster’s FY2024 earnings at $1.17 EPS.

L.B. Foster (NASDAQ:FSTR) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16). L.B. Foster had a net margin of 1.46% and a return on equity of 3.19%. The business had revenue of $140.80 million for the quarter, compared to analysts’ expectations of $137.36 million. During the same period last year, the firm earned $0.32 EPS.

Several other equities analysts have also recently weighed in on the company. Singular Research raised L.B. Foster to a “strong-buy” rating in a research note on Monday, August 12th. StockNews.com cut L.B. Foster from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

L.B. Foster Trading Up 1.7 %

NASDAQ:FSTR opened at $18.90 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.17 and a quick ratio of 1.15. L.B. Foster has a fifty-two week low of $14.23 and a fifty-two week high of $30.77. The stock’s 50-day moving average is $21.82 and its two-hundred day moving average is $24.12. The stock has a market cap of $207.22 million, a PE ratio of 25.89 and a beta of 0.86.

Insider Activity

In other news, Director Raymond T. Betler purchased 5,000 shares of L.B. Foster stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $17.62 per share, for a total transaction of $88,100.00. Following the acquisition, the director now directly owns 30,893 shares in the company, valued at $544,334.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Raymond T. Betler purchased 5,000 shares of L.B. Foster stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $17.62 per share, for a total transaction of $88,100.00. Following the acquisition, the director now directly owns 30,893 shares in the company, valued at $544,334.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William M. Thalman purchased 2,500 shares of L.B. Foster stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $16.79 per share, with a total value of $41,975.00. Following the completion of the acquisition, the chief financial officer now owns 58,806 shares in the company, valued at $987,352.74. The disclosure for this purchase can be found here. Insiders bought a total of 8,620 shares of company stock worth $149,231 in the last three months. 6.20% of the stock is owned by insiders.

Institutional Investors Weigh In On L.B. Foster

An institutional investor recently raised its position in L.B. Foster stock. Lazard Asset Management LLC increased its stake in L.B. Foster (NASDAQ:FSTR) by 760.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,789 shares of the basic materials company’s stock after purchasing an additional 1,581 shares during the quarter. Lazard Asset Management LLC’s holdings in L.B. Foster were worth $48,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 80.63% of the company’s stock.

L.B. Foster Company Profile

L.B. Foster Company provides engineered and manufactured products and services for the building and infrastructure projects in the United States, Canada, the United Kingdom, and internationally. It operates through two segments: Rail, Technologies, and Services; and Infrastructure Solutions. The Rail, Technologies, and Services segment offers new rail to passenger and short line freight railroads, industrial companies, and rail contractors, as well as used rails; rail accessories, such as rack spikes, bolts, angle bars, tie plates, and other products; insulated rail joints and related accessories; fixation fasteners, coverboards, and special accessories; and trackwork products.