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

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

Limbach Price Performance

Shares of NASDAQ LMB traded up $15.13 during midday trading on Wednesday, hitting $92.92. The company had a trading volume of 262,685 shares, compared to its average volume of 162,985. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $74.57 and a two-hundred day simple moving average of $62.45. Limbach has a twelve month low of $29.55 and a twelve month high of $93.07. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 40.82, a price-to-earnings-growth ratio of 2.62 and a beta of 0.97.

Insider Buying and Selling

In other news, Director Joshua Horowitz sold 8,800 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $59.14, for a total transaction of $520,432.00. Following the completion of the transaction, the director now owns 223,272 shares of the company’s stock, valued at $13,204,306.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 40,072 shares of company stock worth $2,418,821 in the last quarter. Company insiders own 10.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LMB. Roth Mkm upped their price target on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com cut shares of Limbach from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th.

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.