Brokerages expect Federal Signal Co. (NYSE:FSS) to report $304.27 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Federal Signal’s earnings, with estimates ranging from $299.00 million to $310.90 million. Federal Signal posted sales of $269.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.9%. The business is expected to announce its next earnings results on Tuesday, November 5th.
According to Zacks, analysts expect that Federal Signal will report full year sales of $1.21 billion for the current fiscal year, with estimates ranging from $1.20 billion to $1.22 billion. For the next year, analysts forecast that the firm will report sales of $1.29 billion, with estimates ranging from $1.29 billion to $1.30 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Federal Signal.
Federal Signal (NYSE:FSS) last posted its earnings results on Wednesday, July 31st. The conglomerate reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09. Federal Signal had a return on equity of 17.99% and a net margin of 9.11%. The firm had revenue of $324.30 million for the quarter, compared to analyst estimates of $305.40 million. During the same quarter in the prior year, the company earned $0.45 EPS. Federal Signal’s revenue was up 11.4% on a year-over-year basis.
FSS has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Federal Signal from a “hold” rating to a “strong-buy” rating and set a $36.00 price target for the company in a report on Friday, August 2nd. ValuEngine cut Federal Signal from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.
FSS traded down $1.02 during trading on Wednesday, hitting $29.79. The company’s stock had a trading volume of 209,505 shares, compared to its average volume of 288,165. The stock has a market cap of $1.82 billion, a PE ratio of 20.83 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.17 and a current ratio of 2.21. The business has a 50 day simple moving average of $28.10. Federal Signal has a twelve month low of $18.59 and a twelve month high of $32.80.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Tuesday, August 13th. Federal Signal’s dividend payout ratio is 22.38%.
In other Federal Signal news, Director Richard R. Mudge sold 10,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $29.50, for a total value of $295,000.00. Following the transaction, the director now owns 87,678 shares of the company’s stock, valued at $2,586,501. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis J. Martin sold 47,734 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $30.37, for a total value of $1,449,681.58. Following the completion of the transaction, the director now directly owns 206,518 shares in the company, valued at approximately $6,271,951.66. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Federal Signal by 1.3% in the 2nd quarter. BlackRock Inc. now owns 8,840,860 shares of the conglomerate’s stock valued at $236,493,000 after buying an additional 117,326 shares during the last quarter. Vanguard Group Inc. raised its holdings in Federal Signal by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,886,632 shares of the conglomerate’s stock valued at $103,967,000 after acquiring an additional 64,945 shares in the last quarter. Investment Counselors of Maryland LLC raised its holdings in Federal Signal by 1.1% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,039,732 shares of the conglomerate’s stock valued at $27,813,000 after acquiring an additional 11,242 shares in the last quarter. Norges Bank acquired a new position in Federal Signal in the 4th quarter valued at $19,996,000. Finally, Bank of New York Mellon Corp raised its holdings in Federal Signal by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 882,527 shares of the conglomerate’s stock valued at $23,608,000 after acquiring an additional 16,665 shares in the last quarter. 89.49% of the stock is currently owned by institutional investors.
About Federal Signal
Federal Signal Corporation, together with its subsidiaries, designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally. It operates through two segments, Environmental Solutions Group and Safety and Security Systems Group.
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