FreightCar America (NASDAQ:RAIL) Releases Earnings Results, Meets Expectations

FreightCar America (NASDAQ:RAIL) issued its earnings results on Monday. The transportation company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05, Yahoo Finance reports. FreightCar America had a negative net margin of 6.88% and a negative return on equity of 20.71%. The firm had revenue of $147.42 million during the quarter, compared to the consensus estimate of $127.09 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. FreightCar America updated its FY 2024 guidance to EPS.

FreightCar America Price Performance

Shares of RAIL traded up $0.53 during midday trading on Wednesday, reaching $4.70. 207,373 shares of the stock were exchanged, compared to its average volume of 39,225. The company has a market capitalization of $87.94 million, a price-to-earnings ratio of -2.94 and a beta of 1.97. FreightCar America has a twelve month low of $2.25 and a twelve month high of $4.80. The business’s 50-day moving average price is $3.41 and its 200 day moving average price is $3.43.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Noble Financial upgraded FreightCar America to a “strong-buy” rating in a report on Friday, June 28th. StockNews.com began coverage on shares of FreightCar America in a report on Sunday. They issued a “hold” rating for the company.

About FreightCar America

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.