$662.36 Million in Sales Expected for GMS Inc. (GMS) This Quarter
Brokerages expect GMS Inc. (NYSE:GMS) to announce $662.36 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for GMS’s earnings, with estimates ranging from $656.40 million to $668.66 million. GMS posted sales of $591.85 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.9%. The company is expected to issue its next earnings report on Tuesday, December 12th.
On average, analysts expect that GMS will report full-year sales of $662.36 million for the current fiscal year, with estimates ranging from $2.57 billion to $2.61 billion. For the next fiscal year, analysts expect that the company will report sales of $2.78 billion per share, with estimates ranging from $2.72 billion to $2.82 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow GMS.
GMS (NYSE:GMS) last posted its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. GMS had a net margin of 2.28% and a return on equity of 14.13%. The company had revenue of $642.20 million for the quarter, compared to analyst estimates of $645.19 million. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis.
Several research firms have commented on GMS. Robert W. Baird reaffirmed a “buy” rating and issued a $37.00 price target on shares of GMS in a report on Monday, October 9th. Royal Bank Of Canada reiterated a “buy” rating and issued a $39.00 price objective on shares of GMS in a research report on Tuesday, October 10th. Wells Fargo & Company started coverage on shares of GMS in a research report on Wednesday, October 18th. They issued a “market perform” rating and a $38.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of GMS from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $37.00.
GMS (NYSE:GMS) traded down $1.13 during trading hours on Thursday, reaching $33.45. 267,988 shares of the company’s stock traded hands, compared to its average volume of 345,846. GMS has a one year low of $20.87 and a one year high of $36.99. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.82 and a current ratio of 2.80. The stock has a market capitalization of $1,370.00 and a price-to-earnings ratio of 19.67.
In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $34.73, for a total value of $434,125.00. Following the completion of the transaction, the chief executive officer now owns 528,418 shares in the company, valued at $18,351,957.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lynn Ross sold 1,894 shares of the company’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $34.77, for a total transaction of $65,854.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,894 shares of company stock valued at $931,479. Insiders own 5.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in shares of GMS during the 1st quarter worth about $7,656,000. Canada Pension Plan Investment Board acquired a new position in shares of GMS during the 2nd quarter worth about $1,967,000. Bank of America Corp DE raised its position in shares of GMS by 0.3% during the 1st quarter. Bank of America Corp DE now owns 161,291 shares of the company’s stock worth $5,651,000 after purchasing an additional 489 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of GMS during the 2nd quarter worth about $324,000. Finally, JPMorgan Chase & Co. raised its position in shares of GMS by 415.8% during the 1st quarter. JPMorgan Chase & Co. now owns 44,811 shares of the company’s stock worth $1,570,000 after purchasing an additional 36,124 shares during the last quarter. Hedge funds and other institutional investors own 56.16% of the company’s stock.
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GMS Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GMS Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.