Q3 Earnings Forecast for RAIL Issued By Noble Financial

FreightCar America, Inc. (NASDAQ:RAIL - Free Report) - Equities research analysts at Noble Financial decreased their Q3 2024 earnings per share (EPS) estimates for FreightCar America in a note issued to investors on Thursday, October 24th. Noble Financial analyst M. Reichman now forecasts that the transportation company will post earnings per share of $0.07 for the quarter, down from their previous forecast of $0.08. The consensus estimate for FreightCar America's current full-year earnings is $0.19 per share. Noble Financial also issued estimates for FreightCar America's Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.19 EPS, FY2026 earnings at $0.84 EPS and FY2028 earnings at $1.06 EPS.

Separately, StockNews.com cut FreightCar America from a "buy" rating to a "hold" rating in a research note on Friday, September 27th.

FreightCar America Price Performance

NASDAQ:RAIL traded down $0.25 during midday trading on Monday, reaching $14.32. 459,795 shares of the company traded hands, compared to its average volume of 142,199. The firm has a market capitalization of $270.22 million, a price-to-earnings ratio of -20.46 and a beta of 2.02. The company has a fifty day moving average price of $10.16 and a 200 day moving average price of $5.90. FreightCar America has a twelve month low of $2.25 and a twelve month high of $14.91.

FreightCar America (NASDAQ:RAIL - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The transportation company reported $0.05 earnings per share for the quarter, meeting analysts' consensus estimates of $0.05. FreightCar America had a negative net margin of 0.62% and a negative return on equity of 28.11%. The business had revenue of $147.42 million during the quarter, compared to the consensus estimate of $127.09 million. During the same quarter in the prior year, the firm earned $0.02 EPS.

Institutional Investors Weigh In On FreightCar America

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of FreightCar America by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company's stock valued at $2,250,000 after acquiring an additional 26,412 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of FreightCar America by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company's stock valued at $104,000 after purchasing an additional 5,880 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of FreightCar America by 43.4% in the 2nd quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company's stock valued at $408,000 after purchasing an additional 35,387 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in FreightCar America in the 3rd quarter worth about $1,067,000. 31.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FreightCar America

In other FreightCar America news, Director Nigris Felan Jose De bought 4,000 shares of the business's stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $10.19 per share, with a total value of $40,760.00. Following the purchase, the director now directly owns 73,147 shares of the company's stock, valued at approximately $745,367.93. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director William D. Gehl sold 10,000 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $10.83, for a total value of $108,300.00. Following the sale, the director now owns 147,608 shares of the company's stock, valued at approximately $1,598,594.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nigris Felan Jose De bought 4,000 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $10.19 per share, with a total value of $40,760.00. Following the purchase, the director now directly owns 73,147 shares of the company's stock, valued at approximately $745,367.93. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 28.00% of the stock is owned by company insiders.

About FreightCar America

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.