Shares of Federal Signal Corporation (NYSE:FSS – Get Free Report) hit a new 52-week high during trading on Monday after Raymond James Financial raised their price target on the stock from $100.00 to $120.00. Raymond James Financial currently has an outperform rating on the stock. Federal Signal traded as high as $106.33 and last traded at $106.12, with a volume of 91980 shares. The stock had previously closed at $104.45.
A number of other analysts have also commented on the company. KeyCorp raised Federal Signal from a “sector weight” rating to an “overweight” rating and set a $110.00 price target for the company in a research note on Monday, May 12th. DA Davidson raised their price target on Federal Signal from $84.00 to $96.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 24th.
Read Our Latest Report on Federal Signal
Hedge Funds Weigh In On Federal Signal
Federal Signal Stock Performance
The business has a fifty day simple moving average of $93.57 and a 200-day simple moving average of $89.49. The company has a quick ratio of 1.09, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. The firm has a market cap of $6.50 billion, a P/E ratio of 31.15, a P/E/G ratio of 1.95 and a beta of 1.26.
Federal Signal (NYSE:FSS – Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. Federal Signal had a return on equity of 18.44% and a net margin of 11.10%. The firm had revenue of $463.80 million during the quarter, compared to the consensus estimate of $462.63 million. During the same period last year, the company earned $0.64 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts predict that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.
Federal Signal Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, May 16th. This represents a $0.56 annualized dividend and a dividend yield of 0.53%. Federal Signal’s payout ratio is presently 16.37%.
Federal Signal declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 22nd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the conglomerate to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
About Federal Signal
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.
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