Limbach (NASDAQ:LMB) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Limbach (NASDAQ:LMB) announced its quarterly earnings data on Tuesday. The construction company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05, Briefing.com reports. Limbach had a net margin of 5.08% and a return on equity of 21.06%. The firm had revenue of $133.90 million for the quarter, compared to analyst estimates of $129.50 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Limbach updated its FY 2024 guidance to EPS.

Limbach Price Performance

NASDAQ LMB traded down $0.04 on Thursday, hitting $93.75. The stock had a trading volume of 211,792 shares, compared to its average volume of 164,109. The firm has a 50-day moving average of $75.75 and a 200-day moving average of $62.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 42.81, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97. Limbach has a 52-week low of $29.55 and a 52-week high of $95.26.

Insider Activity

In other Limbach news, Director Joshua Horowitz sold 12,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $59.17, for a total value of $710,040.00. Following the completion of the sale, the director now directly owns 237,672 shares of the company’s stock, valued at $14,063,052.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 40,072 shares of company stock worth $2,418,821. 10.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Roth Mkm upped their price objective on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com raised shares of Limbach from a “hold” rating to a “buy” rating in a report on Wednesday.

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.