45 days have passed by since the last earnings report for H.B. Fuller Company (NYSE:FUL) and the new quarterly results look set to arrive in 48 days. The shares of FUL at the moment are trading at a volume of 0.18 million, which compares with its normal daily standard volume of 325515 shares. This has led to the shares of the company declining by -2.89%, currently exchanging hands at $44.65 a share. FUL stock has been up by $14.93 (-25.06%) ever since it reached its 52-week high of $59.58 back in August 27, 2018. It has progressed below its 50-day moving average of $46.74 and is down -2.47% over the past week. The stock has added 2.3% since the last one arrived so the question here is that will the upbeat trend in that time frame continue leading up to its next earnings release, or is the FUL share price due for a correction?
H.B. Fuller Company (FUL) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Friday, Sep 27, 2019, 8 analysts who are covering the company are estimating that it will record a profit of $0.9 per share, with analysts having different outlooks from $0.81 to $0.96. The current agreed outlook, when compared to the profit recorded last year, is at $0.86 a share, thus an increase of 4.65% is expected. The profit view for a complete financial year for H.B. Fuller Company is expected to be around $3.17 in current year, a decline of nearly 5.67% from last year which was $3.
Let’s now look at their sales section, FUL’s revenue is estimated to be $770.11M, a figure which is less than the $770.11M recorded for Q3 last year. Their sequential sales though are expected to fall by -1.22% from their Q2’s sales which were $759.58M. Their full-year outlook is pegged at $2.96B, implying that there would be a drop of -2.63% over the $3.04B they recorded last year in revenue. H.B. Fuller Company is projected to get sales lifted by 3.38% in the next quarter, with a revenue target of $3.06B.
Analyzing The Earnings History Of H.B. Fuller Company (NYSE:FUL)
In the past few years, the FUL stock has been known to miss the Wall Street’s earnings projection. The company missed 75% of the time, according to the data pulled on their earnings, was able to meet predictions on 2 occasions and topped expectations 1 times. Looking at the past trend, the price of H.B. Fuller Company shares had sank following the release of their earnings in 20 of the last 38 quarters.
Looking back, here is how H.B. Fuller Company (FUL) stock reacted to earnings misses and beats. It gave investors reason to be bullish with the price going down after 1 of the last four earnings reports. The shares of H.B. Fuller Company recorded 2.25%, 3.28%, 4.29% and -7.11%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were 4.23%, 4.47%, 4.08% and -10.45%. Their post-earnings price movements have resulted in an average increase of 0.68% and an average increase of 0.58% in H.B. Fuller Company on next day and 7th day, sequentially. FUL’s one month stock performance led to its shares declining by -2.68% with a return of -21.8% witnessed over the last 52 weeks.
The lower number of analysts at Reuters has assigned a buy or better ratings (5) on the H.B. Fuller Company stock, while 5 of them have a rating of a Hold with the 11-year target price suggested by the analysts standing at $53.63. This price target implies potential upside of 20.11 percent over the next 12 months based on the current share price.
H.B. Fuller Company (FUL) Post Earnings Announcement Drift (PEAD)
Back on June 26, 2019, H.B. Fuller Company (NYSE:FUL) released its Q2 results, in which it recorded EPS of $0.88 that fell short of consensus estimates of $0.89. After the earnings were reported, the price of FUL stock kicked off the session at $42.8 and remained in a range of $43.5 to $46 on the first day. The shares were priced at $45.94 at the close with a total volume of shares being 821008.
On March 27, 2019, the Q1 earnings report was disclosed with EPS of $0.34. This was same as the estimation of $0.34 per share. The stock price range of FUL was between $47.69 and $49.73 on the first-day post announcement, after opening the day at $47.03. The session came to close at $48.76 and there was a total volume of 788695 shares.
January 16, 2019 was the day when its Q4 results were unveiled. The earnings came in at $0.9, missing the projected $0.98 per share. The very next day, FUL stock opened at $41.92 while staying in a range of $41.98 to $45.81. At the end, it moved to $45.26 a total volume of shares been 1731376.
In the year-ago Q3 earnings on September 26, 2018, the company saw profit per share of $0.86. That was worse than the $0.9 analysts had expected. H.B. Fuller Company share price started at $52.12 on the first full trading day post-earning and then exchanged hands between $53.4 and $54.94 throughout the session. The closing price of $52.89 came on the back of 1345365 shares in volume.