Limbach (NASDAQ:LMB) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Limbach (NASDAQ:LMB) posted its quarterly earnings results on Tuesday. The construction company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.13, Zacks reports. Limbach had a net margin of 4.93% and a return on equity of 21.75%. The business had revenue of $122.24 million during the quarter, compared to the consensus estimate of $123.50 million. During the same period in the previous year, the firm posted $0.46 earnings per share. Limbach updated its FY 2024 guidance to EPS.

Limbach Trading Down 3.4 %

NASDAQ LMB traded down $2.10 during trading on Friday, reaching $59.37. 142,125 shares of the stock traded hands, compared to its average volume of 174,541. Limbach has a fifty-two week low of $26.76 and a fifty-two week high of $66.64. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.15. The firm has a market cap of $663.93 million, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05. The stock’s 50-day moving average price is $58.23 and its 200 day moving average price is $49.77.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 7,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $57.07, for a total value of $399,490.00. Following the completion of the transaction, the director now directly owns 249,672 shares of the company’s stock, valued at $14,248,781.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Joshua Horowitz sold 7,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $57.07, for a total transaction of $399,490.00. Following the sale, the director now directly owns 249,672 shares in the company, valued at $14,248,781.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael M. Mccann acquired 2,099 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average cost of $47.77 per share, for a total transaction of $100,269.23. Following the completion of the transaction, the chief executive officer now directly owns 44,233 shares in the company, valued at approximately $2,113,010.41. The disclosure for this purchase can be found here. Company insiders own 10.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Limbach from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.