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Foundation Building Materials, Inc. (FBM) distributes building products in the United States and Canada.
It offers wallboard, suspended ceiling system, and metal framing products.
The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.
It serves its products to commercial, residential, and other specialty contractors.
On August 5th, Foundation Building Materials (FBM) reported 2nd Quarter June 2019 earnings of $0.34 per share on revenue of $559.9 million. The consensus earnings estimate was $0.25 per share on revenue of $574.0 million. Revenue fell 7.4% compared to the same quarter a year ago.
The company said it now expects 2019 earnings of $0.80 to $1.00 per share and continues to expect revenue of $2.10 billion to $2.25 billion. The company's previous guidance was earnings of $0.70 to $0.90 per share and the current consensus earnings estimate is $0.80 per share on revenue of $2.22 billion for the year ending December 31, 2019.
Higher share prices are expected.
Entry Point: $17.50
Trading Range: $7.62 to $19.742
Stop Loss: $16.60
Target Price: $19.25
FBM closed at $19.25
