Seaport Global Securities Comments on FreightCar America, Inc.’s FY2017 Earnings (RAIL)
FreightCar America, Inc. (NASDAQ:RAIL) – Stock analysts at Seaport Global Securities issued their FY2017 earnings estimates for FreightCar America in a report issued on Thursday. Seaport Global Securities analyst W. Milby anticipates that the transportation company will earn ($0.91) per share for the year. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for FreightCar America’s Q4 2017 earnings at ($0.30) EPS, Q1 2018 earnings at ($0.28) EPS, Q2 2018 earnings at ($0.23) EPS, Q3 2018 earnings at ($0.23) EPS, Q4 2018 earnings at ($0.15) EPS, FY2018 earnings at ($0.90) EPS, Q1 2019 earnings at ($0.14) EPS, Q2 2019 earnings at ($0.08) EPS, Q3 2019 earnings at ($0.08) EPS, Q4 2019 earnings at $0.01 EPS and FY2019 earnings at ($0.29) EPS.
FreightCar America (NASDAQ:RAIL) last announced its quarterly earnings results on Wednesday, November 1st. The transportation company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.63). The company had revenue of $72.00 million for the quarter, compared to analyst estimates of $87.20 million. FreightCar America had a negative return on equity of 2.56% and a negative net margin of 2.44%. The company’s revenue was down 36.6% compared to the same quarter last year.
A number of other research firms also recently weighed in on RAIL. Zacks Investment Research upgraded FreightCar America from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Stifel Nicolaus restated a “hold” rating and issued a $14.00 price objective (down from $15.00) on shares of FreightCar America in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. FreightCar America presently has an average rating of “Hold” and a consensus target price of $16.25.
FreightCar America (RAIL) opened at $16.66 on Monday. The stock has a market cap of $206.39, a price-to-earnings ratio of -18.11 and a beta of 1.65. FreightCar America has a 1-year low of $12.07 and a 1-year high of $20.46.
Institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV bought a new stake in FreightCar America during the third quarter valued at $178,000. Alliancebernstein L.P. bought a new stake in FreightCar America during the second quarter valued at $212,000. Virtu KCG Holdings LLC bought a new stake in FreightCar America during the second quarter valued at $258,000. Rhumbline Advisers boosted its position in FreightCar America by 2.5% during the second quarter. Rhumbline Advisers now owns 15,664 shares of the transportation company’s stock valued at $272,000 after acquiring an additional 387 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in FreightCar America during the second quarter valued at $329,000. 84.30% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider James R. Meyer acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired at an average cost of $14.34 per share, for a total transaction of $143,400.00. Following the completion of the acquisition, the insider now directly owns 2,619 shares of the company’s stock, valued at approximately $37,556.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director S Carl Soderstrom, Jr. sold 4,500 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $15.61, for a total transaction of $70,245.00. Following the sale, the director now directly owns 15,704 shares in the company, valued at approximately $245,139.44. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock valued at $179,090 over the last 90 days. 4.13% of the stock is currently owned by company insiders.
About FreightCar America
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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