FreightCar America (NASDAQ:RAIL) Issues Quarterly Earnings Results

FreightCar America (NASDAQ:RAIL – Get Rating) issued its earnings results on Tuesday. The transportation company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.14), Fidelity Earnings reports. FreightCar America had a negative return on equity of 3,048.14% and a negative net margin of 19.23%. During the same quarter last year, the company posted ($0.48) EPS. FreightCar America updated its FY 2022 guidance to EPS.

RAIL stock traded up $0.25 on Thursday, hitting $3.86. 433,569 shares of the company were exchanged, compared to its average volume of 215,524. The business’s fifty day moving average is $5.14 and its two-hundred day moving average is $4.37. FreightCar America has a twelve month low of $3.06 and a twelve month high of $7.69. The stock has a market capitalization of $63.63 million, a price-to-earnings ratio of -1.97 and a beta of 2.23.

A number of brokerages recently commented on RAIL. Zacks Investment Research lowered FreightCar America from a “buy” rating to a “hold” rating in a report on Saturday, March 19th. StockNews.com upgraded shares of FreightCar America from a “sell” rating to a “hold” rating in a research report on Thursday, March 24th.

A number of hedge funds have recently made changes to their positions in the stock. Morgan Stanley raised its position in FreightCar America by 246.1% in the 1st quarter. Morgan Stanley now owns 8,974 shares of the transportation company’s stock valued at $59,000 after buying an additional 6,381 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of FreightCar America by 293.7% in the 2nd quarter. Wells Fargo & Company MN now owns 8,779 shares of the transportation company’s stock worth $52,000 after purchasing an additional 6,549 shares in the last quarter. Geode Capital Management LLC increased its stake in FreightCar America by 30.0% during the 3rd quarter. Geode Capital Management LLC now owns 132,860 shares of the transportation company’s stock worth $601,000 after buying an additional 30,664 shares in the last quarter. Invesco Ltd. increased its holdings in FreightCar America by 3.6% in the third quarter. Invesco Ltd. now owns 90,750 shares of the transportation company’s stock valued at $411,000 after buying an additional 3,177 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of FreightCar America during the 3rd quarter worth approximately $289,000. 86.59% of the stock is currently owned by institutional investors and hedge funds.

About FreightCar America (Get Rating)

FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars and railcar components for the transportation of bulk commodities and containerized freight products primarily in North America. It operates in two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers; covered hopper cars; gondolas; triple hoppers and hybrid aluminum/stainless steel railcars; ore hopper and gondola railcars; ballast hopper cars; aggregate hopper cars; intermodal flats; and non-intermodal flat cars.

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