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

Limbach (NASDAQ:LMB) announced its earnings results on Tuesday. The construction company reported $0.62 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $133.90 million during the quarter, compared to the consensus estimate of $129.50 million. During the same quarter in the previous year, the company posted $0.61 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Limbach updated its FY 2024 guidance to EPS.

Limbach Trading Up 20.3 %

Limbach stock traded up $15.80 during trading on Wednesday, reaching $93.59. The company had a trading volume of 291,353 shares, compared to its average volume of 163,118. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 2.62 and a beta of 0.97. Limbach has a 12-month low of $29.55 and a 12-month high of $93.59. The stock’s 50 day moving average price is $74.57 and its two-hundred day moving average price is $62.45.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Limbach

In other Limbach news, Director Joshua Horowitz sold 12,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $59.17, for a total transaction of $710,040.00. Following the completion of the sale, the director now owns 237,672 shares of the company’s stock, valued at approximately $14,063,052.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 40,072 shares of company stock worth $2,418,821 in the last quarter. 10.20% of the stock is owned by insiders.

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.