Roth Capital Has Strong Estimate for Limbach FY2024 Earnings

Limbach Holdings, Inc. (NASDAQ:LMB) – Analysts at Roth Capital upped their FY2024 EPS estimates for Limbach in a research note issued on Thursday, November 7th. Roth Capital analyst G. Sweeney now expects that the construction company will post earnings of $2.58 per share 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.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share (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 21.06%. The company had revenue of $133.90 million for the quarter, compared to the consensus estimate of $129.50 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Limbach’s revenue was up 4.9% on a year-over-year basis.

Other analysts have also recently issued reports about the stock. Roth Mkm lifted their target price on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com raised shares of Limbach from a “hold” rating to a “buy” rating in a research note on Wednesday.

Limbach Trading Down 0.0 %

NASDAQ LMB opened at $93.75 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.15. Limbach has a 12 month low of $29.55 and a 12 month high of $95.26. The company’s 50-day moving average price is $75.75 and its 200-day moving average price is $62.88. The stock has a market cap of $1.06 billion, a PE ratio of 42.81, a PEG ratio of 2.52 and a beta of 0.97.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LMB. Vanguard Group Inc. increased its holdings in shares of Limbach by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock valued at $23,464,000 after acquiring an additional 32,030 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Limbach by 6.0% in the second quarter. American Century Companies Inc. now owns 208,223 shares of the construction company’s stock valued at $11,854,000 after buying an additional 11,782 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Limbach by 368.5% in the first quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock valued at $2,977,000 after buying an additional 56,535 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Limbach by 34.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 83,385 shares of the construction company’s stock valued at $6,317,000 after buying an additional 21,346 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of Limbach during the second quarter worth $2,653,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

About Limbach

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.