Limbach (NASDAQ:LMB) Issues Quarterly Earnings Results

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. The company had revenue of $133.90 million for the quarter, compared to analyst estimates of $129.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. Limbach updated its FY 2024 guidance to EPS.

Limbach Price Performance

Shares of Limbach stock traded up $2.22 during trading on Friday, reaching $95.97. The company’s stock had a trading volume of 67,495 shares, compared to its average volume of 163,663. The business has a 50 day moving average price of $75.75 and a 200-day moving average price of $62.88. 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 capitalization of $1.08 billion, a P/E ratio of 42.81, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97. Limbach has a 12-month low of $31.18 and a 12-month high of $96.08.

Wall Street Analyst Weigh In

Several research firms have commented on LMB. Roth Mkm lifted their price target on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com upgraded Limbach from a “hold” rating to a “buy” rating in a research note on Wednesday.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 5,000 shares of the business’s 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 sale, the director now directly owns 190,000 shares in the company, valued at approximately $12,163,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 40,072 shares of company stock worth $2,418,821. 10.20% of the stock is owned by corporate insiders.

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.