Stock Repurchase Program Initiated by Federal Signal (NYSE:FSS)

Federal Signal (NYSE:FSS - Get Free Report) declared that its board has authorized a share buyback plan on Tuesday, April 22nd, RTT News reports. The company plans to buyback $150.00 million in shares. This buyback authorization authorizes the conglomerate to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

FSS has been the topic of several recent research reports. Raymond James lowered their price objective on Federal Signal from $105.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. StockNews.com lowered shares of Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.

Federal Signal Price Performance

Shares of NYSE FSS traded down $1.51 during midday trading on Friday, hitting $75.21. The stock had a trading volume of 527,781 shares, compared to its average volume of 422,887. The company has a market capitalization of $4.60 billion, a PE ratio of 21.80, a P/E/G ratio of 1.85 and a beta of 1.11. Federal Signal has a 1 year low of $66.47 and a 1 year high of $102.18. The stock has a 50 day simple moving average of $78.35 and a 200-day simple moving average of $88.40. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19.

Federal Signal (NYSE:FSS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The conglomerate reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $472.00 million for the quarter, compared to analyst estimates of $481.90 million. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. On average, sell-side analysts expect that Federal Signal will post 3.34 EPS for the current fiscal year.

Federal Signal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, May 16th. Federal Signal's dividend payout ratio (DPR) is currently 15.95%.

Insider Activity

In other Federal Signal news, CEO Jennifer L. Sherman bought 1,250 shares of the business's stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $82.32 per share, with a total value of $102,900.00. Following the acquisition, the chief executive officer now directly owns 559,183 shares of the company's stock, valued at $46,031,944.56. The trade was a 0.22 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.30% of the company's stock.

About Federal Signal

Federal Signal Corp. engages in the design and manufacture of products and integrated solutions for municipal, governmental, industrial, and commercial customers. It operates through the Environmental Solutions Group and Safety and Security Systems Group segments. The Environment Solutions Group segment is involved in the manufacture and supply of street sweeper vehicles, sewer cleaners, vacuum loader trucks, hydro-excavation trucks, and water blasting equipment.