Equities Analysts Set Expectations for L.B. Foster's Q3 2024 Earnings (NASDAQ:FSTR)

L.B. Foster (NASDAQ:FSTR - Free Report) - Stock analysts at B. Riley reduced their Q3 2024 earnings estimates for L.B. Foster in a research report issued on Wednesday, August 14th. B. Riley analyst A. Rygiel now forecasts that the basic materials company will post earnings of $0.52 per share for the quarter, down from their prior forecast 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 - Get Free Report) last issued its earnings results on Tuesday, August 6th. The basic materials company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.16). The company had revenue of $140.80 million during the quarter, compared to analysts' expectations of $137.36 million. L.B. Foster had a return on equity of 3.19% and a net margin of 1.46%. During the same quarter in the previous year, the company earned $0.32 EPS.

Several other equities analysts have also recently issued reports on FSTR. StockNews.com cut shares of L.B. Foster from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Singular Research raised shares of L.B. Foster to a "strong-buy" rating in a report on Monday.

L.B. Foster Stock Performance

L.B. Foster stock traded up $0.32 during mid-day trading on Friday, hitting $18.90. The company had a trading volume of 69,224 shares, compared to its average volume of 61,831. The company has a market capitalization of $207.22 million, a price-to-earnings ratio of 25.67 and a beta of 0.86. L.B. Foster has a 12-month low of $14.23 and a 12-month high of $30.77. The company's fifty day moving average is $21.96 and its 200-day moving average is $24.15. The company has a current ratio of 2.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.54.

Insider Buying and Selling at L.B. Foster

In related news, CFO William M. Thalman acquired 2,500 shares of the firm's stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $16.79 per share, with a total value of $41,975.00. Following the completion of the acquisition, the chief financial officer now directly owns 58,806 shares in the company, valued at approximately $987,352.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Raymond T. Betler purchased 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $17.62 per share, for a total transaction of $88,100.00. Following the completion of the transaction, the director now owns 30,893 shares of the company's stock, valued at $544,334.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William M. Thalman acquired 2,500 shares of L.B. Foster stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $16.79 per share, with a total value of $41,975.00. Following the completion of the purchase, the chief financial officer now owns 58,806 shares in the company, valued at approximately $987,352.74. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 8,620 shares of company stock valued at $149,231. Company insiders own 6.20% of the company's stock.

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 holdings in shares of L.B. Foster (NASDAQ:FSTR - Free Report) by 760.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,789 shares of the basic materials company's stock after acquiring 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. 80.63% of the stock is currently owned by institutional investors and hedge funds.

About L.B. Foster

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.