Revenue Update on FreightCar America(NASDAQ:RAIL)

FreightCar America(NASDAQ:RAIL) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $126.16M. Analysts estimated a revenue of $162.82M. Earnings per share were $-0.04. Analysts had estimated an EPS of $0.43.

In a different note, On Jul 13, 2016, Stifel Nicolaus said it Downgrades its rating on FreightCar America. The shares have been rated ‘Hold’ by the firm. Cowen & Company said it Initiates Coverage on FreightCar America, according to a research note issued on Jun 22, 2016. The shares have been rated ‘Market Perform’ by the firm. On May 4, 2016, Longbow Research said it Downgrades its rating on FreightCar America. The shares have been rated ‘Neutral’ by the firm.

FreightCar America (RAIL) made into the market gainers list on Mondays trading session with the shares advancing 1.31% or 0.19 points. Due to strong positive momentum, the stock ended at $14.67, which is also near the day’s high of $14.84. The stock began the session at $14.56 and the volume stood at 1,39,828 shares. The 52-week high of the shares is $24.95 and the 52 week low is $12.56. The company has a current market capitalization of $187 M and it has 1,27,31,678 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 1, 2016, Joseph E Mcneely (CEO) purchased 6,686 shares at $14.88 per share price.Also, On May 27, 2015, Joseph J Maliekel (VP, Corp Controller and PAO) purchased 1,000 shares at $22.31 per share price.On May 7, 2015, Charles F Jr Avery (CFO) purchased 425 shares at $23.75 per share price, according to the Form-4 filing with the securities and exchange commission.

FreightCar America Inc. is engaged in manufacturing of aluminum-bodied railcars in North America. The Company is also a manufacturer of coal cars. The Company also refurbishes and rebuilds railcars and sells forged cast and fabricated parts for all of the railcars it produces as well as those manufactured by others. It offers railcar leasing and refurbishment alternatives to its customers. Through its newly formed subsidiary FreightCar Rail Services LLC (FCRS) it provides railcar repair and maintenance inspections and railcar fleet management services for all types of freight railcars. Its railcar manufacturing facilities are located in Danville Illinois and Roanoke Virginia. The Company operates in two segments: Manufacturing which includes new railcar manufacturing used railcar sales railcar leasing and railcar rebuilds and Services which includes general railcar repair and maintenance inspections parts sales and railcar fleet management services.

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