Zacks: Brokerages Expect GMS Inc. (GMS) Will Post Quarterly Sales of $601.17 Million
Equities analysts expect that GMS Inc. (NYSE:GMS) will announce sales of $601.17 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for GMS’s earnings. The lowest sales estimate is $592.70 million and the highest is $610.70 million. GMS reported sales of $527.18 million in the same quarter last year, which indicates a positive year over year growth rate of 14%. The business is scheduled to issue its next earnings report on Tuesday, July 11th.
According to Zacks, analysts expect that GMS will report full year sales of $601.17 million for the current fiscal year, with estimates ranging from $2.30 billion to $2.31 billion. For the next financial year, analysts expect that the firm will post sales of $2.57 billion per share, with estimates ranging from $2.55 billion to $2.60 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for GMS.
GMS has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated a “buy” rating and issued a $38.00 price target (up previously from $32.00) on shares of GMS in a research report on Monday, March 6th. Robert W. Baird upgraded GMS from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $32.00 to $36.00 in a research report on Wednesday, March 1st. ValuEngine upgraded GMS from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded GMS from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Thursday, March 2nd. Finally, Seaport Global Securities initiated coverage on GMS in a research report on Thursday, March 16th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. GMS currently has a consensus rating of “Buy” and an average price target of $32.43.
GMS (NYSE GMS) traded down 1.58% during midday trading on Wednesday, hitting $32.45. 94,893 shares of the stock traded hands. The firm’s 50 day moving average is $34.02 and its 200-day moving average is $31.54. GMS has a 12-month low of $19.28 and a 12-month high of $36.99. The stock has a market capitalization of $1.33 billion and a PE ratio of 29.00.
In other GMS news, SVP Richard Alan Adams sold 83,950 shares of GMS stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $31.68, for a total value of $2,659,536.00. Following the transaction, the senior vice president now owns 170,000 shares in the company, valued at $5,385,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard K. Mueller sold 1,000,000 shares of GMS stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total value of $31,680,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,986,079 shares of company stock worth $126,278,983.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its position in GMS by 7.0% in the first quarter. American International Group Inc. now owns 4,377 shares of the company’s stock worth $153,000 after buying an additional 288 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in GMS by 386.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 5,190 shares of the company’s stock worth $182,000 after buying an additional 4,123 shares in the last quarter. Alambic Investment Management L.P. acquired a new position in GMS during the first quarter worth about $203,000. TFS Capital LLC acquired a new position in GMS during the first quarter worth about $221,000. Finally, Ngam Advisors L.P. acquired a new position in GMS during the first quarter worth about $481,000. Hedge funds and other institutional investors own 39.42% of the company’s stock.
GMS Company Profile
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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