Roth Capital Research Analysts Raise Earnings Estimates for Limbach Holdings, Inc. (NASDAQ:LMB)

Limbach Holdings, Inc. (NASDAQ:LMB) – Analysts at Roth Capital increased their Q3 2024 earnings estimates for shares of Limbach in a research report issued on Tuesday, September 3rd. Roth Capital analyst G. Sweeney now expects that the construction company will earn $0.57 per share for the quarter, up from their previous estimate of $0.55. The consensus estimate for Limbach’s current full-year earnings is $2.25 per share. Roth Capital also issued estimates for Limbach’s FY2024 earnings at $2.43 EPS and FY2026 earnings at $3.34 EPS.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.13. The business had revenue of $122.24 million for the quarter, compared to analysts’ expectations of $123.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. During the same period in the prior year, the firm posted $0.46 EPS.

Separately, StockNews.com lowered shares of Limbach from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Limbach Price Performance

NASDAQ LMB opened at $60.93 on Thursday. Limbach has a one year low of $26.76 and a one year high of $66.64. The stock has a 50-day moving average of $60.44 and a 200 day moving average of $52.55. 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 company has a market capitalization of $681.38 million, a price-to-earnings ratio of 28.34, a PEG ratio of 2.39 and a beta of 1.05.

Insider Buying and Selling at Limbach

In other Limbach news, Director Joshua Horowitz sold 7,000 shares of the firm’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 transaction, the director now directly owns 249,672 shares of the company’s stock, valued at $14,248,781.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 35,072 shares of company stock worth $2,065,191. Insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Limbach

A number of hedge funds have recently modified their holdings of LMB. Grizzlyrock Capital LLC bought a new stake in shares of Limbach during the 4th quarter valued at $602,000. Vanguard Group Inc. raised its position in shares of Limbach by 6.0% during the first quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock valued at $23,464,000 after buying an additional 32,030 shares during the last quarter. Navellier & Associates Inc. bought a new position in shares of Limbach during the fourth quarter worth $267,000. Russell Investments Group Ltd. boosted its position in shares of Limbach by 368.5% during the first quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock worth $2,977,000 after acquiring an additional 56,535 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Limbach during the second quarter valued at $3,532,000. Institutional investors own 55.85% 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.