$1.06 Billion in Sales Expected for GMS Inc. (NYSE:GMS) This Quarter

Wall Street brokerages expect GMS Inc. (NYSE:GMS) to announce $1.06 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for GMS’s earnings. GMS posted sales of $812.86 million during the same quarter last year, which suggests a positive year over year growth rate of 30.4%. The firm is scheduled to announce its next earnings results on Thursday, December 2nd.

On average, analysts expect that GMS will report full year sales of $4.14 billion for the current financial year, with estimates ranging from $4.07 billion to $4.22 billion. For the next year, analysts expect that the firm will report sales of $4.30 billion, with estimates ranging from $4.07 billion to $4.53 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover GMS.

GMS (NYSE:GMS) last announced its earnings results on Wednesday, September 1st. The company reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.41. GMS had a net margin of 3.94% and a return on equity of 23.44%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $973.78 million. During the same quarter last year, the firm earned $0.94 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis.

A number of research firms have recently commented on GMS. Zacks Investment Research upgraded shares of GMS from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Monday, September 6th. Truist increased their price target on shares of GMS from $52.00 to $62.00 and gave the company a “buy” rating in a report on Friday, September 3rd. Barclays increased their price target on shares of GMS from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 8th. Stephens upgraded shares of GMS from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $43.00 to $56.00 in a report on Friday, June 25th. Finally, Royal Bank of Canada upgraded shares of GMS from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $60.00 in a report on Friday, June 25th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $59.29.

In related news, major shareholder Coliseum Capital Management, L purchased 113,050 shares of GMS stock in a transaction on Thursday, June 24th. The shares were bought at an average cost of $44.17 per share, for a total transaction of $4,993,418.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John C. Turner, Jr. sold 3,285 shares of GMS stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $49.78, for a total transaction of $163,527.30. The disclosure for this sale can be found here. Insiders have bought a total of 279,761 shares of company stock worth $13,379,692 over the last 90 days. Insiders own 1.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Blueshift Asset Management LLC purchased a new position in shares of GMS during the 1st quarter worth about $1,012,000. Barclays PLC boosted its position in GMS by 13.6% in the 1st quarter. Barclays PLC now owns 58,488 shares of the company’s stock valued at $2,441,000 after buying an additional 7,020 shares during the period. Swiss National Bank boosted its position in GMS by 1.1% in the 1st quarter. Swiss National Bank now owns 97,700 shares of the company’s stock valued at $4,079,000 after buying an additional 1,100 shares during the period. Janus Henderson Group PLC boosted its position in GMS by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 18,766 shares of the company’s stock valued at $783,000 after buying an additional 4,607 shares during the period. Finally, Profund Advisors LLC purchased a new stake in GMS in the 1st quarter valued at about $229,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

NYSE:GMS opened at $44.13 on Tuesday. The company’s 50 day moving average price is $48.36 and its 200-day moving average price is $45.47. GMS has a 52 week low of $21.41 and a 52 week high of $53.85. The company has a quick ratio of 1.25, a current ratio of 2.06 and a debt-to-equity ratio of 1.16. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 13.83 and a beta of 2.09.

GMS Company Profile

GMS, Inc is a holding company, which engages in the distribution of wallboard and suspended ceilings systems and complementary interior construction products. It operates through the following segments: Geographic Divisions, Other, and Corporate. The firm offers ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings.

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Earnings History and Estimates for GMS (NYSE:GMS)

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