$1.53 EPS expected for Installed Building Products, Inc. (NYSE: IBP) this quarter
Brokers expect Installed Building Products, Inc. (NYSE:IBP) to post earnings of $1.53 per share for the current fiscal quarter, Zacks reports. Four analysts released earnings estimates for Installed Building Products, with estimates ranging from $1.50 to $1.58. Installed Building Products reported earnings of $1.23 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 24.4%. The company is expected to release its next quarterly earnings report on Wednesday, February 23.
According to Zacks, analysts expect Installed Building Products to report annual earnings of $5.50 per share for the current fiscal year, with EPS estimates ranging from $5.46 to $5.56. For the next fiscal year, analysts expect the company to post earnings of $6.81 per share, with EPS estimates ranging from $6.64 to $6.98. Zacks EPS calculations are an average based on a survey of sell-side research analysts who track Installed Building Products.
Installed Building Products (NYSE:IBP) last reported quarterly results on Thursday, November 4. The construction company reported EPS of $1.49 for the quarter, missing the consensus estimate of $1.63 per ($0.14). Installed Building Products posted a net margin of 6.25% and a return on equity of 43.68%. The company posted revenue of $509.76 million for the quarter, versus analyst estimates of $512.13 million. In the same quarter last year, the company achieved EPS of $1.21. The company’s revenue for the quarter increased 21.2% year over year.
Several equity analysts have commented on IBP shares. KeyCorp raised its price target on installed building products from $145.00 to $155.00 and gave the company an “overweight” rating in a Friday, Nov. 5, report. Evercore ISI reiterated a “hold” rating on Installed Building Products stock in a Sunday, Nov. 7, report. Royal Bank of Canada upgraded Installed Building Products from an “outperform” rating to an “industry performer” rating and set a price target of $132.00 for the company. in a research report on Friday, November 5. Zelman & Associates upgraded Installed Building Products from a “hold” rating to a “buy” rating in a Thursday, December 23 research report. Finally, Zacks Investment Research upgraded Installed Building Products from a “hold” rating to a “buy” rating and set a price target of $135.00 for the company in a Tuesday, January 11 research report. Three research analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat.com, Installed Building Products has a consensus rating of “Buy” and an average price target of $147.43.
In other Installed Building Products news, Director Janet E. Jackson sold 2,000 shares of Installed Building Products in a trade on Thursday, November 11. The stock was sold at an average price of $131.97, for a total transaction of $263,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CEO Jeffrey W. Edwards sold 30,000 shares of Installed Building Products in a trade on Wednesday, November 10. The shares were sold at an average price of $131.43, for a total value of $3,942,900.00. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 187,500 shares of the company valued at $24,997,505. 20.80% of the shares are held by insiders of the company.
Several hedge funds and other institutional investors have recently changed their holdings in the company. BlackRock Inc. increased its holdings of Installed Building Products shares by 1.8% during the third quarter. BlackRock Inc. now owns 3,749,070 shares of the construction company valued at $401,713,000 after acquiring an additional 65,335 shares during the period. Vanguard Group Inc. increased its stake in Installed Building Products shares by 1.3% in the second quarter. Vanguard Group Inc. now owns 2,489,757 shares of the construction company valued at $304,647,000 after buying 31,525 additional shares last quarter. Invesco Ltd. increased its stake in Installed Building Products shares by 1.2% in the third quarter. Invesco Ltd. now owns 1,556,958 shares of the construction company valued at $166,829,000 after purchasing an additional 18,924 shares last quarter. Findlay Park Partners LLP increased its stake in shares of Installed Building Products by 28.7% in the third quarter. Findlay Park Partners LLP now owns 1,205,720 shares of the construction company valued at $129,193,000 after buying an additional 268,672 shares last quarter. Finally, State Street Corp increased its stake in Installed Building Products shares by 9.4% in the second quarter. State Street Corp now owns 902,511 shares of the construction company valued at $110,431,000 after buying an additional 77,505 shares last quarter. 80.37% of the shares are held by institutional investors.
IBP stock traded at $0.61 midday Wednesday, hitting $113.26. 207,683 shares of the company were traded, against an average volume of 185,724. Installed Building Products has a 12-month low of $99.36 and a 12-month high of $141.43. The company has a quick ratio of 1.95, a current ratio of 2.36 and a leverage ratio of 1.39. The company has a 50-day simple moving average of $132.60 and a 200-day simple moving average of $123.82. The stock has a market capitalization of $3.36 billion, a price-earnings ratio of 28.60 and a beta of 1.82.
The company also recently announced a quarterly dividend, which was paid on Friday, December 31. Investors of record on Wednesday, December 15 received a dividend of $0.30. The ex-dividend date was Tuesday, December 14. This represents an annualized dividend of $1.20 and a yield of 1.06%. Installed Building Products’ dividend payout ratio (DPR) is currently 30.30%.
About installed building products
Installed Building Products, Inc. is dedicated to installing insulation for the new residential construction market. Its products include garage doors, gutters, shower doors, closet shelves and mirrors. The company was founded in 1977 and is based in Columbus, OH.
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