Limbach (NASDAQ:LMB) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Limbach (NASDAQ:LMB) released its earnings results on Tuesday. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05, Briefing.com reports. Limbach had a net margin of 5.08% and a return on equity of 21.06%. The company had revenue of $133.90 million for the quarter, compared to analyst estimates of $129.50 million. During the same period in the prior year, the business earned $0.61 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Limbach updated its FY 2024 guidance to EPS.

Limbach Stock Performance

NASDAQ:LMB traded up $15.80 during midday trading on Wednesday, reaching $93.59. The stock had a trading volume of 291,353 shares, compared to its average volume of 163,118. 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 stock has a market cap of $1.06 billion, a P/E ratio of 40.82, a P/E/G ratio of 2.62 and a beta of 0.97. The firm has a fifty day simple moving average of $74.57 and a two-hundred day simple moving average of $62.45. Limbach has a 12-month low of $29.55 and a 12-month high of $93.59.

Analyst Upgrades and Downgrades

LMB has been the topic of a number of analyst reports. Roth Mkm raised their price objective on shares of Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a report on Monday. StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th.

Insider Activity

In related news, Director Joshua Horowitz sold 12,000 shares of Limbach stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $59.17, for a total value of $710,040.00. Following the sale, the director now directly owns 237,672 shares in the company, valued at $14,063,052.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 40,072 shares of company stock valued at $2,418,821 over the last quarter. Corporate insiders own 10.20% of the company’s stock.

About Limbach

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.