Noble Financial Issues Negative Forecast for RAIL Earnings

FreightCar America, Inc. (NASDAQ:RAIL) – Noble Financial cut their Q3 2024 earnings per share estimates for shares of FreightCar America in a report issued on Thursday, October 24th. Noble Financial analyst M. Reichman now anticipates 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 $0.20 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 downgraded shares of FreightCar America from a “buy” rating to a “hold” rating in a research note on Friday, September 27th.

FreightCar America Stock Performance

NASDAQ:RAIL opened at $14.57 on Monday. The firm has a 50-day simple moving average of $9.99 and a 200-day simple moving average of $5.83. FreightCar America has a one year low of $2.25 and a one year high of $14.91. The firm has a market cap of $274.94 million, a P/E ratio of -20.81 and a beta of 2.02.

FreightCar America (NASDAQ:RAIL) last released its quarterly earnings data on Monday, August 12th. The transportation company reported $0.05 earnings per share for the quarter, meeting 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 firm had revenue of $147.42 million during the quarter, compared to the consensus estimate of $127.09 million. During the same period in the previous year, the company posted $0.02 earnings per share.

Insider Activity at FreightCar America

In other news, Director Nigris Felan Jose De purchased 4,000 shares of the stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $10.19 per share, for a total transaction of $40,760.00. Following the acquisition, the director now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FreightCar America news, Director Nigris Felan Jose De purchased 4,000 shares of FreightCar America stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost 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 in the company, valued at approximately $745,367.93. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William D. Gehl sold 10,000 shares of the firm’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 completion of the sale, the director now directly owns 147,608 shares of the company’s stock, valued at $1,598,594.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 28.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FreightCar America

A number of large investors have recently modified their holdings of RAIL. Dimensional Fund Advisors LP raised 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. Renaissance Technologies LLC increased its stake in FreightCar America by 43.4% during 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 in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of FreightCar America in the third quarter worth $1,067,000. Finally, Vanguard Group Inc. lifted 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. Hedge funds and other institutional investors own 31.96% of the company’s stock.

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.