$662.96 Million in Sales Expected for GMS Inc. (GMS) This Quarter
Brokerages expect that GMS Inc. (NYSE:GMS) will report $662.96 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for GMS’s earnings, with estimates ranging from $656.40 million to $668.66 million. GMS reported sales of $591.85 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12%. The firm is expected to report its next quarterly earnings report on Tuesday, December 12th.
On average, analysts expect that GMS will report full-year sales of $662.96 million for the current fiscal year, with estimates ranging from $2.57 billion to $2.61 billion. For the next year, analysts anticipate that the business will post sales of $2.78 billion per share, with estimates ranging from $2.72 billion to $2.82 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow GMS.
GMS (NYSE:GMS) last issued its earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. GMS had a return on equity of 14.13% and a net margin of 2.28%. The business had revenue of $642.20 million during the quarter, compared to the consensus estimate of $645.19 million. During the same period last year, the company earned $0.46 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis.
Several research firms have weighed in on GMS. Robert W. Baird reissued 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 reissued a “buy” rating and issued a $39.00 price target on shares of GMS in a report on Tuesday, October 10th. Zacks Investment Research raised shares of GMS from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Stephens lowered their price target on shares of GMS from $40.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, July 3rd. Finally, Northcoast Research raised shares of GMS from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Monday, July 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $36.60.
Shares of GMS (GMS) traded up 0.54% during mid-day trading on Friday, hitting $35.09. The company’s stock had a trading volume of 295,513 shares. GMS has a 12-month low of $20.51 and a 12-month high of $36.99. The company has a market cap of $1.44 billion, a PE ratio of 26.87 and a beta of 3.39. The stock has a 50-day moving average of $34.76 and a 200-day moving average of $34.76.
In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $34.73, for a total transaction of $434,125.00. Following the transaction, the chief executive officer now owns 528,418 shares in the company, valued at approximately $18,351,957.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lynn Ross sold 1,894 shares of the stock in a transaction that occurred on 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. Corporate insiders own 5.90% of the company’s stock.
Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in shares of GMS during the 1st quarter worth approximately $7,656,000. Canada Pension Plan Investment Board acquired a new position in shares of GMS during the 2nd quarter worth approximately $1,967,000. Bank of America Corp DE grew 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 in the last quarter. Bank of New York Mellon Corp grew its position in shares of GMS by 49.4% during the 1st quarter. Bank of New York Mellon Corp now owns 45,055 shares of the company’s stock worth $1,578,000 after purchasing an additional 14,893 shares in the last quarter. Finally, JPMorgan Chase & Co. grew 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 in the last quarter. Hedge funds and other institutional investors own 55.51% 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.
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