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

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

Limbach Trading Down 3.4 %

Shares of LMB stock traded down $2.10 during mid-day trading on Friday, reaching $59.37. The stock had a trading volume of 142,125 shares, compared to its average volume of 174,541. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $58.23 and its two-hundred day moving average price is $49.77. The firm has a market capitalization of $663.93 million, a PE ratio of 28.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05. Limbach has a 52-week low of $26.76 and a 52-week high of $66.64.

Insider Transactions at Limbach

In related 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 transaction of $399,490.00. Following the transaction, the director now owns 249,672 shares in the company, valued at approximately $14,248,781.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Michael F. Mcnally sold 7,973 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $50.16, for a total value of $399,925.68. Following the completion of the sale, the director now directly owns 56,509 shares of the company’s stock, valued at approximately $2,834,491.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joshua Horowitz sold 7,000 shares of Limbach stock in a transaction dated 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 approximately $14,248,781.04. The disclosure for this sale can be found here. 10.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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