Thermon Group Holdings (THR) Announces Quarterly Earnings Results, Meets Expectations
Thermon Group Holdings (NYSE:THR) announced its earnings results on Thursday. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26, American Banking News reports. The company had revenue of $67.70 million for the quarter, compared to the consensus estimate of $65.90 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis.
Thermon Group Holdings (NYSE:THR) traded up 5.09% on Thursday, hitting $25.83. 50,505 shares of the company’s stock traded hands. Thermon Group Holdings has a 1-year low of $19.01 and a 1-year high of $29.06. The stock has a 50-day moving average of $25.30 and a 200-day moving average of $24.81. The company has a market cap of $824.8 million and a P/E ratio of 30.73.
A number of analysts have recently weighed in on THR shares. Analysts at Jefferies Group cut their price target on shares of Thermon Group Holdings from $32.00 to $30.00 in a research note on Wednesday, May 28th. They now have a “buy” rating on the stock. Analysts at KeyCorp downgraded shares of Thermon Group Holdings from a “buy” rating to a “hold” rating in a research note on Monday, May 19th. They now have a $29.50 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $28.18.
Thermon Group Holdings, Inc provides thermal solutions for process industries. The Company provides a range of products, including heating cables, tubing bundles and control systems, and services, including design optimization, engineering, installation and maintenance services.
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