Q1 2023 EPS Estimates for Federal Signal Co. Increased by Seaport Res Ptn (NYSE:FSS)

Federal Signal Co. (NYSE:FSSGet Rating) – Seaport Res Ptn raised their Q1 2023 earnings per share (EPS) estimates for shares of Federal Signal in a research note issued to investors on Tuesday, May 3rd. Seaport Res Ptn analyst W. Liptak now forecasts that the conglomerate will post earnings per share of $0.46 for the quarter, up from their previous estimate of $0.44. Seaport Res Ptn also issued estimates for Federal Signal’s Q2 2023 earnings at $0.59 EPS, Q3 2023 earnings at $0.55 EPS, Q4 2023 earnings at $0.71 EPS and FY2023 earnings at $2.30 EPS.

Federal Signal (NYSE:FSSGet Rating) last announced its earnings results on Tuesday, March 1st. The conglomerate reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $301.40 million during the quarter, compared to analyst estimates of $301.64 million. Federal Signal had a net margin of 8.29% and a return on equity of 14.38%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share.

A number of other brokerages have also recently weighed in on FSS. Zacks Investment Research cut shares of Federal Signal from a “hold” rating to a “sell” rating in a report on Monday, January 17th. StockNews.com initiated coverage on shares of Federal Signal in a report on Thursday, March 31st. They issued a “hold” rating on the stock. KeyCorp dropped their target price on shares of Federal Signal from $48.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, March 18th. Finally, Raymond James decreased their price target on shares of Federal Signal from $46.00 to $45.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $46.20.

Shares of NYSE:FSS opened at $34.63 on Wednesday. Federal Signal has a 12 month low of $32.02 and a 12 month high of $48.88. The company has a market capitalization of $2.11 billion, a P/E ratio of 21.64 and a beta of 0.98. The company’s 50-day moving average price is $34.14. The company has a current ratio of 2.53, a quick ratio of 1.18 and a debt-to-equity ratio of 0.36.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be issued a $0.09 dividend. The ex-dividend date is Thursday, May 19th. This represents a $0.36 annualized dividend and a dividend yield of 1.04%. Federal Signal’s dividend payout ratio is currently 22.50%.

In other news, CEO Jennifer L. Sherman acquired 2,800 shares of Federal Signal stock in a transaction that occurred on Thursday, March 3rd. The stock was purchased at an average price of $34.60 per share, for a total transaction of $96,880.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. State of New Jersey Common Pension Fund D grew its position in shares of Federal Signal by 11.5% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 68,973 shares of the conglomerate’s stock valued at $2,328,000 after acquiring an additional 7,136 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Federal Signal by 2.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,062,330 shares of the conglomerate’s stock valued at $35,854,000 after buying an additional 25,330 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Federal Signal by 6.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 211,519 shares of the conglomerate’s stock valued at $7,139,000 after buying an additional 13,657 shares during the period. Hudson Value Partners LLC raised its position in shares of Federal Signal by 12.2% during the 1st quarter. Hudson Value Partners LLC now owns 8,760 shares of the conglomerate’s stock valued at $296,000 after buying an additional 950 shares during the period. Finally, Norges Bank purchased a new stake in Federal Signal in the fourth quarter valued at approximately $26,654,000. 91.53% of the stock is owned by institutional investors.

About Federal Signal (Get Rating)

Federal Signal Corp. engages in the design and manufacture of products and integrated solutions for municipal, governmental, industrial, and commercial customers. It operates through the Environmental Solutions Group and Safety and Security Systems Group segments. The Environment Solutions Group segment is involved in the manufacture and supply of street sweeper vehicles, sewer cleaners, vacuum loader trucks, hydro-excavation trucks, and water blasting equipment.

Further Reading

Earnings History and Estimates for Federal Signal (NYSE:FSS)

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