Brokers Set Expectations for Limbach Holdings, Inc.’s Q3 2024 Earnings (NASDAQ:LMB)

Limbach Holdings, Inc. (NASDAQ:LMB) – Equities research analysts at Roth Capital upped their Q3 2024 earnings estimates for Limbach in a report released on Tuesday, September 3rd. Roth Capital analyst G. Sweeney now expects that the construction company will post earnings per share of $0.57 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.

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

LMB stock opened at $63.97 on Thursday. The firm has a market cap of $715.38 million, a P/E ratio of 29.75, a price-to-earnings-growth ratio of 2.39 and a beta of 1.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63. Limbach has a 1 year low of $26.76 and a 1 year high of $66.64. The stock has a 50-day simple moving average of $60.26 and a 200-day simple moving average of $52.37.

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

Insider Buying and Selling at Limbach

In related news, Director Joshua Horowitz sold 12,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $59.17, for a total value of $710,040.00. Following the completion of the transaction, the director now owns 237,672 shares of the company’s stock, valued at $14,063,052.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 35,072 shares of company stock valued at $2,065,191 in the last ninety days. Insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Limbach

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Truist Financial Corp lifted its stake in Limbach by 21.0% during the second quarter. Truist Financial Corp now owns 9,049 shares of the construction company’s stock worth $515,000 after purchasing an additional 1,569 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Limbach during the 2nd quarter valued at about $223,000. Thrivent Financial for Lutherans bought a new position in Limbach in the 2nd quarter worth about $2,653,000. Brighton Jones LLC boosted its position in shares of Limbach by 7.2% during the second quarter. Brighton Jones LLC now owns 14,106 shares of the construction company’s stock worth $803,000 after buying an additional 943 shares during the period. Finally, Renaissance Technologies LLC increased its position in Limbach by 6.4% in the 2nd quarter. Renaissance Technologies LLC now owns 394,871 shares of the construction company’s stock valued at $22,480,000 after acquiring an additional 23,700 shares during the period. Institutional investors own 55.85% of the company’s stock.

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.