Installed Building Products, Inc. (NYSE:IBP) is expected to report third quarter earnings results, before market open, on Thursday 5th November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 1.18 per share.
Looking ahead, the full year income are expected at $ 4.27 per share on the revenues of $ 1664.44 million.
Previous Quarter Performance
Installed Building Products, Inc. recorded income for the second quarter of $ 1.12 per share, from the revenue of $ 393.94 million. The quarterly earnings expanded 28.74 percent while revenues up 5.95 percent compared with the same quarter last year.
Street analysts expected Installed Building Products, Inc. to report income of $ 0.75 per share on revenue of $ 372.80 million for the second quarter. The bottom line results beat street analysts by $ 0.37 or 49.33 percent, at the same time, top line results outshined analysts by $ 21.14 million or 5.67 percent.
Stock Performance
Shares of Installed Building Products, Inc. traded up $ 8.60 or 9.11 percent on Wednesday, reaching $ 102.97 with volume of 229.60 thousand shares. Installed Building Products, Inc. has traded high as $ 103.35 and has cracked $ 93.81 on the downward trend
The closing price of $ 102.97, representing a 225.19 % increase from the 52 week low of $ 29.02 and a 22.44 % decrease over the 52 week high of $ 121.67.
The company has a market capital of $ 3.07 billion and is part of the Basic Materials sector and Building Materials industry.
Recent Analyst recommendations
- On 26th October 2020, upgraded by KeyBanc to Overweight from Sector Weight rating
- On 5th October 2020, downgraded by Benchmark to Hold from Buy rating.
- On 22nd September 2020, maintained by Deutsche Bank at Buy rating, with $ 110.00 target price.
Conference Call
Installed Building Products, Inc. will be hosting a conference call at 10:00 AM eastern time on 5th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.installedbuildingproducts.com
Installed Building Products, Inc., together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials. The company is also involved in the installation of insulation and sealant materials in various areas of a structure, which includes basement and crawl space, building envelope, attic, and acoustical.
