Freightcar America Inc. (RAIL) Stock Price Down 3.1%
Freightcar America Inc. (NASDAQ:RAIL)’s share price dropped 3.1% during trading on Tuesday . The stock traded as low as $14.07 and last traded at $14.21, with a volume of 68,697 shares changing hands. The stock had previously closed at $14.67.
RAIL has been the topic of several recent analyst reports. Longbow Research lowered shares of Freightcar America from a “buy” rating to a “neutral” rating in a report on Wednesday, May 4th. Zacks Investment Research raised shares of Freightcar America from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 27th. Stifel Nicolaus lowered shares of Freightcar America from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Cowen and Company initiated coverage on shares of Freightcar America in a report on Wednesday, June 22nd. They set a “market perform” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Freightcar America currently has a consensus rating of “Hold” and an average target price of $17.67.
The company has a market cap of $176.02 million and a P/E ratio of 4.53. The stock’s 50 day moving average is $14.31 and its 200 day moving average is $15.52.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.47. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business had revenue of $126.20 million for the quarter, compared to analyst estimates of $163.43 million. The firm’s revenue was down 46.4% on a year-over-year basis. On average, equities research analysts anticipate that Freightcar America Inc. will post $0.60 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Thursday, August 18th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Tuesday, August 16th.
An institutional investor recently raised its position in Freightcar America stock. New York State Common Retirement Fund raised its stake in shares of Freightcar America Inc. (NASDAQ:RAIL) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 135,619 shares of the company’s stock after buying an additional 9,924 shares during the period. New York State Common Retirement Fund owned approximately 1.10% of Freightcar America worth $2,635,000 at the end of the most recent reporting period.
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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