GMS Inc (NYSE:GMS) Expected to Announce Quarterly Sales of $837.13 Million

Wall Street brokerages predict that GMS Inc (NYSE:GMS) will announce $837.13 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for GMS’s earnings, with the lowest sales estimate coming in at $829.00 million and the highest estimate coming in at $847.00 million. GMS posted sales of $778.14 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7.6%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, August 29th.

On average, analysts expect that GMS will report full year sales of $3.27 billion for the current fiscal year, with estimates ranging from $3.20 billion to $3.32 billion. For the next financial year, analysts forecast that the business will report sales of $3.40 billion, with estimates ranging from $3.33 billion to $3.49 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for GMS.

GMS (NYSE:GMS) last released its earnings results on Thursday, June 27th. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.03). The firm had revenue of $780.10 million during the quarter, compared to analyst estimates of $784.40 million. GMS had a net margin of 1.80% and a return on equity of 18.94%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the business posted $0.56 earnings per share.

Several equities research analysts have recently commented on GMS shares. Royal Bank of Canada set a $23.00 target price on GMS and gave the company a “buy” rating in a research note on Friday, June 28th. Zacks Investment Research cut GMS from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. TheStreet raised GMS from a “d+” rating to a “c-” rating in a research note on Thursday, May 2nd. Finally, Nomura reissued a “neutral” rating and issued a $20.00 target price (down from $27.00) on shares of GMS in a research note on Thursday, May 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $24.22.

Shares of NYSE GMS traded up $0.77 during midday trading on Friday, hitting $22.07. The stock had a trading volume of 223,200 shares, compared to its average volume of 335,399. The company’s 50-day simple moving average is $22.39 and its 200 day simple moving average is $19.08. The firm has a market cap of $891.19 million, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 1.00 and a beta of 2.40. GMS has a fifty-two week low of $13.61 and a fifty-two week high of $28.47. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.24 and a quick ratio of 1.43.

In other news, CEO G Michael Callahan, Jr. sold 28,950 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $22.61, for a total value of $654,559.50. Following the transaction, the chief executive officer now directly owns 428,314 shares in the company, valued at approximately $9,684,179.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in shares of GMS by 69.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,735 shares of the company’s stock worth $26,000 after purchasing an additional 714 shares during the last quarter. Royce & Associates LP bought a new position in shares of GMS in the 1st quarter worth $36,000. Glen Harbor Capital Management LLC bought a new position in shares of GMS in the 2nd quarter worth $70,000. Bank of Montreal Can lifted its holdings in GMS by 419.9% during the second quarter. Bank of Montreal Can now owns 3,296 shares of the company’s stock worth $73,000 after acquiring an additional 2,662 shares in the last quarter. Finally, Riverhead Capital Management LLC bought a new position in GMS during the second quarter worth about $77,000. Institutional investors and hedge funds own 72.05% of the company’s stock.

GMS Company Profile

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings.

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Earnings History and Estimates for GMS (NYSE:GMS)

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