Federal Signal Q2 sales slightly beat on Environmental Solutions Group growth
FSS•Analyst coverage and valuation
The current average analyst rating on the shares is buy, with 5 strong buy or buy ratings, 2 hold ratings, and no sell or strong sell ratings.
Wall Street's median 12-month price target for Federal Signal Corp is $140.00, about 25.2% above its July 29 closing price of $111.86. The stock recently traded at 21 times next-12-month earnings, versus 22 times three months ago.
Q2 sales and earnings beat estimates
Federal Signal said second-quarter sales rose 19%, slightly beating analyst expectations, while adjusted earnings per share increased 21% and also beat estimates.
The US environmental and safety equipment maker reported Q2 sales of $670.20 million versus a consensus estimate of $667.09 million from seven analysts. Adjusted EPS came in at $1.42, above the $1.29 estimate. Net income was $86.10 million.
Environmental Solutions Group drove the quarter
Federal Signal said net sales and adjusted EBITDA in Environmental Solutions Group rose due to recent acquisitions, higher aftermarket sales, and proactive price/cost management.
