Freightcar America (NASDAQ:RAIL) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Freightcar America (NASDAQ:RAIL) issued its quarterly earnings results on Monday. The transportation company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06), FiscalAI reports. Freightcar America had a negative return on equity of 15.54% and a net margin of 7.61%.The business had revenue of $64.31 million during the quarter, compared to analysts’ expectations of $74.60 million.

Freightcar America Stock Down 2.9%

Freightcar America stock opened at $8.06 on Tuesday. The business has a fifty day moving average of $9.80 and a two-hundred day moving average of $10.07. The firm has a market cap of $153.73 million, a P/E ratio of 7.26 and a beta of 1.55. Freightcar America has a twelve month low of $6.02 and a twelve month high of $14.90.

Hedge Funds Weigh In On Freightcar America

A number of large investors have recently made changes to their positions in RAIL. BNP Paribas Financial Markets increased its position in shares of Freightcar America by 208.6% during the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock worth $29,000 after purchasing an additional 1,984 shares in the last quarter. Royal Bank of Canada increased its position in shares of Freightcar America by 2,843.5% during the fourth quarter. Royal Bank of Canada now owns 4,062 shares of the transportation company’s stock worth $45,000 after purchasing an additional 3,924 shares in the last quarter. Quarry LP acquired a new position in shares of Freightcar America during the third quarter worth $53,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Freightcar America during the first quarter worth $61,000. Finally, State of Wyoming acquired a new position in shares of Freightcar America during the second quarter worth $63,000. 31.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RAIL shares. Weiss Ratings raised Freightcar America from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 23rd. Wall Street Zen lowered Freightcar America from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy”.

About Freightcar America

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.