FGI Industries (NASDAQ:FGI) Releases Earnings Results, Misses Expectations By $0.33 EPS

FGI Industries (NASDAQ:FGI) released its earnings results on Thursday. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.33), FiscalAI reports. FGI Industries had a positive return on equity of 10.02% and a negative net margin of 3.07%. The firm had revenue of $31.69 million for the quarter, compared to analyst estimates of $37.41 million.

FGI Industries Price Performance

NASDAQ:FGI traded down $2.15 during trading hours on Friday, reaching $6.28. The company had a trading volume of 24,020 shares, compared to its average volume of 566,822. FGI Industries has a 1-year low of $3.14 and a 1-year high of $19.93. The business’s 50 day moving average price is $7.85 and its 200-day moving average price is $6.06. The firm has a market cap of $12.11 million, a PE ratio of -3.02 and a beta of 2.26.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a research note on Monday, September 21st. UBS Group set a $13.00 price objective on shares of FGI Industries in a report on Friday, August 14th. Benchmark reiterated a “speculative buy” rating and issued a $13.00 price objective (up from $8.00) on shares of FGI Industries in a research note on Friday, August 14th. Finally, Wall Street Zen raised shares of FGI Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, FGI Industries presently has a consensus rating of “Hold” and an average target price of $13.00.

FGI Industries Company Profile

FGI Industries Ltd. is a global manufacturer and distributor of bathroom and kitchen products. The company supplies products for residential, hospitality, commercial and multifamily construction applications through retail, wholesale and e-commerce channels. Its product portfolio includes bathroom vanities and furniture, bathtubs, shower systems and enclosures, toilets, sinks, faucets, mirrors and related accessories. FGI markets products under brands that include Foremost, Jetcoat and Bootz, serving customers across North America and other international markets.