Analysts Anticipate GMS Inc. (GMS) Will Post Quarterly Sales of $649.71 Million
Wall Street analysts predict that GMS Inc. (NYSE:GMS) will report $649.71 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for GMS’s earnings, with estimates ranging from $645.40 million to $653.45 million. GMS reported sales of $549.80 million during the same quarter last year, which indicates a positive year-over-year growth rate of 18.2%. The company is expected to issue its next earnings report on Tuesday, September 12th.
According to Zacks, analysts expect that GMS will report full-year sales of $649.71 million for the current year, with estimates ranging from $2.55 billion to $2.60 billion. For the next financial year, analysts expect that the firm will report sales of $2.75 billion per share, with estimates ranging from $2.72 billion to $2.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover GMS.
GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, June 29th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. GMS had a return on equity of 14.15% and a net margin of 2.11%. The firm had revenue of $615 million during the quarter, compared to analysts’ expectations of $614.93 million. During the same period in the prior year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 16.7% on a year-over-year basis.
A number of brokerages have issued reports on GMS. Zacks Investment Research downgraded GMS from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Seaport Global Securities began coverage on GMS in a report on Thursday, March 16th. They set a “neutral” rating for the company. Barclays PLC reaffirmed an “overweight” rating and set a $37.00 price target (up from $36.00) on shares of GMS in a report on Saturday, March 11th. Stephens decreased their price target on GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. Finally, Northcoast Research raised GMS from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $36.17.
GMS (NYSE:GMS) traded up 1.26% during midday trading on Friday, reaching $28.05. The company’s stock had a trading volume of 780,178 shares. The stock’s 50-day moving average price is $32.51 and its 200 day moving average price is $31.95. GMS has a 1-year low of $20.23 and a 1-year high of $36.99. The firm has a market capitalization of $1.15 billion, a PE ratio of 23.57 and a beta of 3.49.
In other GMS news, major shareholder Investors Lp Aea sold 2,902,129 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 transaction of $91,939,446.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard Alan Adams sold 83,950 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total value of $2,659,536.00. Following the completion of the sale, the senior vice president now directly owns 170,000 shares of the company’s stock, valued at $5,385,600. The disclosure for this sale can be found here. Insiders have sold a total of 3,986,079 shares of company stock valued at $126,278,983 over the last ninety days.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in GMS by 71.6% in the first quarter. Vanguard Group Inc. now owns 1,973,231 shares of the company’s stock valued at $69,142,000 after buying an additional 822,997 shares during the last quarter. Citadel Advisors LLC increased its stake in GMS by 294.7% in the first quarter. Citadel Advisors LLC now owns 1,162,177 shares of the company’s stock valued at $40,722,000 after buying an additional 867,736 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in GMS by 6.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,143,477 shares of the company’s stock valued at $40,067,000 after buying an additional 66,383 shares during the last quarter. Emerald Advisers Inc. PA increased its stake in GMS by 7.8% in the first quarter. Emerald Advisers Inc. PA now owns 704,465 shares of the company’s stock valued at $24,684,000 after buying an additional 50,683 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in GMS by 13,592.0% in the first quarter. Wells Fargo & Company MN now owns 669,950 shares of the company’s stock valued at $23,476,000 after buying an additional 665,057 shares during the last quarter. 39.13% of the stock is owned by institutional investors and hedge funds.
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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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