FGI Industries (NASDAQ:FGI) Releases Quarterly Earnings Results, Beats Expectations By $0.50 EPS

FGI Industries (NASDAQ:FGI) announced its earnings results on Wednesday. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.50, FiscalAI reports. FGI Industries had a negative return on equity of 4.56% and a negative net margin of 5.07%.The company had revenue of $31.89 million for the quarter, compared to analyst estimates of $33.85 million.

FGI Industries Stock Up 4.0%

Shares of FGI Industries stock traded up $0.18 during midday trading on Wednesday, hitting $4.73. The company’s stock had a trading volume of 1,084,845 shares, compared to its average volume of 102,162. FGI Industries has a 1-year low of $3.14 and a 1-year high of $12.62. The firm has a market capitalization of $9.13 million, a P/E ratio of -1.40 and a beta of 2.20. The stock has a 50-day simple moving average of $4.69 and a 200-day simple moving average of $5.18.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FGI shares. Wall Street Zen cut FGI Industries from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Zacks Research cut shares of FGI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of FGI Industries in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, FGI Industries currently has a consensus rating of “Reduce”.

FGI Industries Company Profile

FGI Industries ltd. supplies kitchen and bath products in the United States, Canada, Europe, and internationally. The company sells sanitaryware products, such as toilets, sinks, pedestals, and toilet seats; wood and wood-substitute furniture for bathrooms, including vanities, mirrors, laundry, medicine cabinets, and other storage systems; shower systems; and customer kitchen cabinetry and other accessory items under the Foremost, avenue, contrac, Jetcoat, rosenberg, and Covered Bridge Cabinetry brand names.