Federal Signal Corporation (NYSE:FSS - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $103.13 and last traded at $102.97, with a volume of 46806 shares changing hands. The stock had previously closed at $101.45.
Analyst Ratings Changes
A number of brokerages have recently issued reports on FSS. Raymond James Financial dropped their target price on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. KeyCorp raised shares of Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price objective for the company in a research note on Monday, May 12th. DA Davidson lifted their price target on Federal Signal from $82.00 to $84.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, Wall Street Zen downgraded Federal Signal from a "buy" rating to a "hold" rating in a report on Saturday, March 1st.
Read Our Latest Research Report on Federal Signal
Federal Signal Price Performance
The business has a 50-day moving average of $88.50 and a 200 day moving average of $89.20. The firm has a market capitalization of $6.23 billion, a P/E ratio of 29.96, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. The company has a current ratio of 2.39, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22.
Federal Signal (NYSE:FSS - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. Federal Signal had a net margin of 11.10% and a return on equity of 18.44%. The firm had revenue of $463.80 million for the quarter, compared to analyst estimates of $462.63 million. During the same period last year, the firm earned $0.64 earnings per share. The business's quarterly revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts predict that Federal Signal Corporation will post 3.34 earnings per share for the current fiscal year.
Federal Signal Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Friday, May 16th. Federal Signal's payout ratio is currently 16.37%.
Federal Signal declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 22nd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the conglomerate to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Hedge Funds Weigh In On Federal Signal
Institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its holdings in Federal Signal by 0.6% in the 4th quarter. California Public Employees Retirement System now owns 89,654 shares of the conglomerate's stock worth $8,283,000 after acquiring an additional 514 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Federal Signal by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 780,513 shares of the conglomerate's stock valued at $72,112,000 after purchasing an additional 11,466 shares in the last quarter. Victory Capital Management Inc. lifted its position in Federal Signal by 84.1% in the 4th quarter. Victory Capital Management Inc. now owns 219,147 shares of the conglomerate's stock worth $20,247,000 after buying an additional 100,135 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Federal Signal in the 4th quarter valued at $36,636,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Federal Signal by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 502,173 shares of the conglomerate's stock valued at $46,396,000 after buying an additional 36,616 shares during the last quarter. Institutional investors own 92.73% of the company's stock.
About Federal Signal
(
Get Free Report)
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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