What is Roth Capital’s Forecast for Limbach FY2024 Earnings?

Limbach Holdings, Inc. (NASDAQ:LMB) – Equities researchers at Roth Capital boosted their FY2024 earnings per share estimates for Limbach in a research note issued to investors on Thursday, November 7th. Roth Capital analyst G. Sweeney now anticipates that the construction company will post earnings per share of $2.58 for the year, up from their previous estimate of $2.43. The consensus estimate for Limbach’s current full-year earnings is $2.43 per share. Roth Capital also issued estimates for Limbach’s Q4 2024 earnings at $0.82 EPS, FY2025 earnings at $3.13 EPS and FY2026 earnings at $3.64 EPS.

LMB has been the topic of a number of other reports. Roth Mkm lifted their price target on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. StockNews.com upgraded Limbach from a “hold” rating to a “buy” rating in a research note on Wednesday.

Limbach Stock Performance

Shares of LMB stock opened at $96.94 on Friday. The company’s 50 day moving average is $76.40 and its 200 day moving average is $63.43. The company has a quick ratio of 1.63, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 44.06, a PEG ratio of 3.22 and a beta of 0.97. Limbach has a 52-week low of $31.18 and a 52-week high of $97.40.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The business had revenue of $133.90 million for the quarter, compared to the consensus estimate of $129.50 million. During the same quarter last year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis.

Insider Activity at Limbach

In other news, Director Joshua Horowitz sold 5,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $64.02, for a total value of $320,100.00. Following the completion of the sale, the director now owns 190,000 shares of the company’s stock, valued at $12,163,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 40,072 shares of company stock valued at $2,418,821 over the last 90 days. Insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its stake in Limbach by 6.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock valued at $207,000 after acquiring an additional 162 shares during the period. SummerHaven Investment Management LLC raised its position in Limbach by 0.9% during the second quarter. SummerHaven Investment Management LLC now owns 28,963 shares of the construction company’s stock valued at $1,649,000 after acquiring an additional 261 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Limbach by 7.7% in the second quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock valued at $232,000 after acquiring an additional 292 shares during the period. American Capital Advisory LLC purchased a new stake in Limbach in the 3rd quarter worth approximately $25,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Limbach by 0.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 46,987 shares of the construction company’s stock worth $3,560,000 after purchasing an additional 382 shares during the period. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Company Profile

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.