Wall Street brokerages expect that Limbach Holdings, Inc. (NASDAQ:LMB) will report $118.00 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Limbach’s earnings. The lowest sales estimate is $114.00 million and the highest is $120.00 million. Limbach reported sales of $133.72 million during the same quarter last year, which indicates a negative year over year growth rate of 11.8%. The business is expected to announce its next earnings report on Monday, April 16th.
On average, analysts expect that Limbach will report full year sales of $118.00 million for the current fiscal year, with estimates ranging from $468.33 million to $474.33 million. For the next financial year, analysts forecast that the business will report sales of $515.67 million per share, with estimates ranging from $510.00 million to $519.00 million. Zacks’ sales averages are an average based on a survey of research analysts that follow Limbach.
Separately, Zacks Investment Research upgraded Limbach from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LMB. Arbor Wealth Management LLC lifted its position in Limbach by 393.3% during the fourth quarter. Arbor Wealth Management LLC now owns 80,308 shares of the construction company’s stock valued at $1,110,000 after purchasing an additional 64,027 shares in the last quarter. Macquarie Group Ltd. purchased a new position in Limbach during the fourth quarter valued at $112,000. Finally, Steward Partners Investment Advisory LLC lifted its position in Limbach by 108.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,846 shares of the construction company’s stock valued at $122,000 after purchasing an additional 4,604 shares in the last quarter. Institutional investors own 27.95% of the company’s stock.
Limbach Holdings, Inc provides commercial specialty contractor services in the United States. It operates in two segments, Construction and Service. The company provides services in the areas of HVAC (heating, ventilation, and air-conditioning), plumbing, electrical, and building controls for the design and construction of new and renovated buildings; maintenance services; and equipment upgrades.
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