Limbach (NASDAQ:LMB) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Limbach (NASDAQ:LMB) posted its quarterly earnings results on Tuesday. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.13, Zacks reports. The firm had revenue of $122.24 million for the quarter, compared to analysts’ expectations of $123.50 million. Limbach had a net margin of 4.93% and a return on equity of 21.75%. During the same period in the prior year, the company posted $0.46 earnings per share. Limbach updated its FY 2024 guidance to EPS.

Limbach Stock Performance

LMB stock traded up $1.68 during trading on Thursday, hitting $61.47. 164,663 shares of the company’s stock traded hands, compared to its average volume of 174,755. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.15. Limbach has a 52 week low of $26.76 and a 52 week high of $66.64. The stock has a fifty day moving average price of $58.23 and a two-hundred day moving average price of $49.77. The stock has a market capitalization of $687.42 million, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Limbach from a “hold” rating to a “buy” rating in a report on Tuesday.

Insider Buying and Selling at Limbach

In related news, Director Joshua Horowitz sold 7,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $57.07, for a total value of $399,490.00. Following the sale, the director now owns 249,672 shares of the company’s stock, valued at approximately $14,248,781.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Joshua Horowitz sold 7,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $57.07, for a total value of $399,490.00. Following the sale, the director now owns 249,672 shares of the company’s stock, valued at approximately $14,248,781.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael M. Mccann bought 2,099 shares of the stock in a transaction on Friday, May 17th. The shares were bought at an average cost of $47.77 per share, for a total transaction of $100,269.23. Following the purchase, the chief executive officer now owns 44,233 shares in the company, valued at approximately $2,113,010.41. The disclosure for this purchase can be found here. 10.20% of the stock is owned by insiders.

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.