What is B. Riley’s Estimate for L.B. Foster FY2024 Earnings?

L.B. Foster (NASDAQ:FSTR) – Stock analysts at B. Riley upped their FY2024 earnings estimates for L.B. Foster in a report issued on Wednesday, November 13th. B. Riley analyst A. Rygiel now anticipates that the basic materials company will post earnings per share of $1.19 for the year, up from their prior forecast of $1.17. B. Riley currently has a “Neutral” rating and a $25.00 target price on the stock. The consensus estimate for L.B. Foster’s current full-year earnings is $1.20 per share. B. Riley also issued estimates for L.B. Foster’s Q4 2024 earnings at $0.32 EPS.

Other analysts also recently issued reports about the company. StockNews.com raised L.B. Foster from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th. Singular Research raised L.B. Foster to a “strong-buy” rating in a research report on Monday, August 12th.

L.B. Foster Price Performance

Shares of NASDAQ FSTR opened at $26.49 on Friday. The stock has a market cap of $286.89 million, a price-to-earnings ratio of 6.81 and a beta of 0.83. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.30 and a current ratio of 2.27. L.B. Foster has a fifty-two week low of $14.23 and a fifty-two week high of $30.77. The firm’s 50-day simple moving average is $20.25 and its 200 day simple moving average is $22.05.

Hedge Funds Weigh In On L.B. Foster

A number of hedge funds and other institutional investors have recently modified their holdings of FSTR. Lazard Asset Management LLC lifted its holdings in L.B. Foster by 760.1% during the first quarter. Lazard Asset Management LLC now owns 1,789 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 1,581 shares during the period. MetLife Investment Management LLC raised its stake in shares of L.B. Foster by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 5,329 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 3,003 shares during the period. Finally, De Lisle Partners LLP raised its stake in shares of L.B. Foster by 11.9% during the 3rd quarter. De Lisle Partners LLP now owns 46,944 shares of the basic materials company’s stock worth $961,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 80.63% of the company’s stock.

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.