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

Limbach (NASDAQ:LMB) posted its quarterly earnings data on Tuesday. The construction company reported $0.62 earnings per share (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 firm had revenue of $133.90 million for the quarter, compared to the consensus estimate of $129.50 million. During the same quarter in the previous year, the company earned $0.61 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Limbach updated its FY 2024 guidance to EPS.

Limbach Stock Up 20.4 %

Shares of Limbach stock traded up $15.88 on Wednesday, hitting $93.67. 335,134 shares of the company traded hands, compared to its average volume of 163,322. Limbach has a 12-month low of $29.55 and a 12-month high of $94.46. 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 company has a market cap of $1.06 billion, a PE ratio of 40.82, a PEG ratio of 2.62 and a beta of 0.97. The company has a 50-day moving average price of $74.57 and a 200 day moving average price of $62.45.

Insider Buying and Selling

In other news, Director Joshua Horowitz sold 5,000 shares of Limbach stock in a transaction dated 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 in the company, valued at $12,163,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 40,072 shares of company stock worth $2,418,821. Corporate insiders own 10.20% of the company’s stock.

Wall Street Analyst Weigh In

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

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.