Limbach (NASDAQ:LMB) Posts Quarterly Earnings Results

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

Limbach Trading Up 2.4 %

NASDAQ:LMB traded up $2.22 during trading hours on Friday, hitting $95.97. The company had a trading volume of 67,495 shares, compared to its average volume of 163,663. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $75.75 and a 200 day moving average of $62.88. The company has a market cap of $1.08 billion, a P/E ratio of 42.81, a P/E/G ratio of 2.52 and a beta of 0.97. Limbach has a 1 year low of $31.18 and a 1 year high of $96.08.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Roth Mkm upped their target price on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com raised Limbach from a “hold” rating to a “buy” rating in a report on Wednesday.

Insider Activity

In related news, Director Joshua Horowitz sold 12,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $59.17, for a total transaction of $710,040.00. Following the transaction, the director now owns 237,672 shares of the company’s stock, valued at approximately $14,063,052.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 40,072 shares of company stock valued at $2,418,821 in the last quarter. Insiders own 10.20% 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.