Federal Signal Corporation (NYSE:FSS) Hits New 52-Week High After Earnings Beat
Federal Signal Corporation (NYSE:FSS)’s share price hit a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $19.48 and last traded at $19.41, with a volume of 499,381 shares changing hands. The stock had previously closed at $18.51.
The conglomerate reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Federal Signal Corporation had a net margin of 5.26% and a return on equity of 9.75%. The company had revenue of $224.40 million during the quarter, compared to analysts’ expectations of $206.53 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. Federal Signal Corporation’s quarterly revenue was up 30.2% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Tuesday, August 15th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, August 11th. Federal Signal Corporation’s dividend payout ratio (DPR) is presently 45.16%.
Several research analysts recently weighed in on FSS shares. TheStreet upgraded shares of Federal Signal Corporation from a “c” rating to a “b-” rating in a research report on Thursday, April 27th. Zacks Investment Research cut shares of Federal Signal Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Finally, BidaskClub upgraded shares of Federal Signal Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $19.00.
In related news, VP Samuel Miceli sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $16.05, for a total value of $32,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul W. Jones sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $15.96, for a total transaction of $798,000.00. Following the completion of the transaction, the director now owns 72,901 shares of the company’s stock, valued at approximately $1,163,499.96. The disclosure for this sale can be found here. Insiders sold a total of 52,900 shares of company stock valued at $844,662 in the last 90 days. 4.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Guggenheim Capital LLC raised its stake in Federal Signal Corporation by 5.9% in the fourth quarter. Guggenheim Capital LLC now owns 64,124 shares of the conglomerate’s stock worth $1,001,000 after buying an additional 3,588 shares in the last quarter. Norges Bank acquired a new stake in Federal Signal Corporation during the fourth quarter worth approximately $12,920,000. Teachers Advisors LLC raised its stake in Federal Signal Corporation by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 103,602 shares of the conglomerate’s stock worth $1,617,000 after buying an additional 2,015 shares in the last quarter. Macquarie Group Ltd. raised its stake in Federal Signal Corporation by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,045,540 shares of the conglomerate’s stock worth $16,321,000 after buying an additional 73,183 shares in the last quarter. Finally, Alpha Windward LLC raised its stake in Federal Signal Corporation by 7.4% in the first quarter. Alpha Windward LLC now owns 31,500 shares of the conglomerate’s stock worth $435,000 after buying an additional 2,160 shares in the last quarter. 83.15% of the stock is owned by hedge funds and other institutional investors.
The company has a 50 day moving average price of $17.72 and a 200-day moving average price of $15.81. The firm has a market capitalization of $1.13 billion, a PE ratio of 30.85 and a beta of 1.37.
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About Federal Signal Corporation
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.
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