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

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

Limbach Stock Down 0.1 %

Shares of NASDAQ:LMB traded down $0.07 during midday trading on Thursday, reaching $93.72. The company’s stock had a trading volume of 60,617 shares, compared to its average volume of 163,352. Limbach has a 12-month low of $29.55 and a 12-month high of $95.26. The firm has a 50 day moving average of $75.17 and a 200-day moving average of $62.67. The firm has a market capitalization of $1.06 billion, a P/E ratio of 42.83, a PEG ratio of 2.52 and a beta of 0.97. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.15.

Analyst Upgrades and Downgrades

LMB has been the subject of several research reports. StockNews.com upgraded shares of Limbach from a “hold” rating to a “buy” rating in a research report on Wednesday. Roth Mkm raised their price target on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday.

Insider Activity

In related news, Director Joshua Horowitz sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 190,000 shares of the company’s stock, valued at $12,163,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 40,072 shares of company stock worth $2,418,821. Insiders own 10.20% of the company’s stock.

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.