FreightCar America, Inc. (NASDAQ:RAIL - Free Report) - Noble Financial reduced their Q3 2024 earnings estimates for shares of FreightCar America in a research report issued to clients and investors on Thursday, October 24th. Noble Financial analyst M. Reichman now expects that the transportation company will post earnings of $0.07 per share for the quarter, down from their previous forecast of $0.08. The consensus estimate for FreightCar America's current full-year earnings is $0.20 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 lowered shares of FreightCar America from a "buy" rating to a "hold" rating in a research note on Friday, September 27th.
Read Our Latest Report on FreightCar America
FreightCar America Trading Up 3.4 %
Shares of NASDAQ:RAIL opened at $14.57 on Monday. The company has a market capitalization of $274.94 million, a price-to-earnings ratio of -20.81 and a beta of 2.02. FreightCar America has a 12-month low of $2.25 and a 12-month high of $14.91. The business has a 50-day moving average price of $9.99 and a 200 day moving average price of $5.83.
FreightCar America (NASDAQ:RAIL - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The transportation company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. FreightCar America had a negative return on equity of 28.11% and a negative net margin of 0.62%. The company had revenue of $147.42 million during the quarter, compared to analyst estimates of $127.09 million. During the same period in the prior year, the business posted $0.02 earnings per share.
Institutional Investors Weigh In On FreightCar America
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of FreightCar America by 4.7% during the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company's stock worth $2,250,000 after buying an additional 26,412 shares during the period. Renaissance Technologies LLC lifted its stake in FreightCar America by 43.4% in the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company's stock worth $408,000 after acquiring an additional 35,387 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in FreightCar America during the 3rd quarter worth approximately $1,067,000. Finally, Dimensional Fund Advisors LP increased its position in shares of FreightCar America by 24.4% in the 2nd 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. Institutional investors and hedge funds own 31.96% of the company's stock.
Insider Buying and Selling at FreightCar America
In other news, Director William D. Gehl sold 10,000 shares of FreightCar America 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 completion of the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Nigris Felan Jose De acquired 4,000 shares of the business's stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $10.19 per share, with a total value of $40,760.00. Following the completion of the transaction, the director now owns 73,147 shares of the company's stock, valued at $745,367.93. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William D. Gehl sold 10,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $10.83, for a total value of $108,300.00. Following the completion of the sale, the director now owns 147,608 shares in the company, valued at approximately $1,598,594.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.00% of the stock is owned by corporate insiders.
About FreightCar America
(
Get Free Report)
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.
Recommended Stories
Before you consider FreightCar America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FreightCar America wasn't on the list.
While FreightCar America currently has a "Strong Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
