Zacks: Analysts Expect GMS (GMS) Will Announce Earnings of $0.67 Per Share

Analysts forecast that GMS (NYSE:GMS) will post earnings of $0.67 per share for the current quarter, according to Zacks. Five analysts have made estimates for GMS’s earnings, with estimates ranging from $0.61 to $0.73. GMS posted earnings per share of $0.48 during the same quarter last year, which would indicate a positive year over year growth rate of 39.6%. The company is expected to report its next quarterly earnings results on Thursday, July 5th.

According to Zacks, analysts expect that GMS will report full year earnings of $2.02 per share for the current fiscal year, with EPS estimates ranging from $1.98 to $2.08. For the next fiscal year, analysts expect that the firm will post earnings of $2.80 per share, with EPS estimates ranging from $2.70 to $2.97. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover GMS.

GMS (NYSE:GMS) last posted its quarterly earnings results on Tuesday, March 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.22). The company had revenue of $585.60 million for the quarter, compared to analyst estimates of $602.08 million. GMS had a return on equity of 12.75% and a net margin of 2.70%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share.

Several brokerages recently weighed in on GMS. Instinet began coverage on shares of GMS in a research report on Tuesday, March 13th. They set a “buy” rating and a $40.00 price objective on the stock. Nomura began coverage on shares of GMS in a research report on Tuesday, March 13th. They set a “buy” rating and a $40.00 price objective on the stock. Northcoast Research set a $41.00 price objective on shares of GMS and gave the company a “buy” rating in a research report on Wednesday, March 7th. Royal Bank of Canada set a $38.00 price objective on shares of GMS and gave the company a “buy” rating in a research report on Wednesday, March 7th. Finally, Barclays reaffirmed a “buy” rating and set a $42.00 price objective on shares of GMS in a research report on Wednesday, March 7th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $39.09.

In other news, insider G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $31.77, for a total value of $397,125.00. Following the transaction, the insider now owns 461,752 shares of the company’s stock, valued at $14,669,861.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider G Michael Callahan, Jr. sold 33,333 shares of GMS stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $33.65, for a total transaction of $1,121,655.45. Following the completion of the transaction, the insider now directly owns 428,419 shares in the company, valued at approximately $14,416,299.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,271 shares of company stock worth $3,388,463. Insiders own 5.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its position in shares of GMS by 213.7% in the third quarter. Great West Life Assurance Co. Can now owns 2,823 shares of the company’s stock valued at $100,000 after purchasing an additional 1,923 shares during the period. SG Americas Securities LLC bought a new position in shares of GMS in the fourth quarter valued at approximately $129,000. Two Sigma Securities LLC bought a new position in shares of GMS in the fourth quarter valued at approximately $225,000. California Public Employees Retirement System bought a new position in shares of GMS in the third quarter valued at approximately $234,000. Finally, Paloma Partners Management Co increased its position in GMS by 42.1% during the fourth quarter. Paloma Partners Management Co now owns 8,719 shares of the company’s stock worth $328,000 after acquiring an additional 2,583 shares during the period. 72.76% of the stock is currently owned by institutional investors.

Shares of GMS opened at $31.69 on Monday. The company has a market cap of $1,286.73, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 2.22 and a beta of 1.56. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 2.91. GMS has a twelve month low of $27.20 and a twelve month high of $39.98.

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About GMS

GMS Inc distributes wallboards, suspended ceilings systems, and complementary interior construction products in North America. The company offers wallboard products; and ceilings products, such as suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and other commercial and institutional buildings.

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