Gibraltar Industries, Inc. (NASDAQ:ROCK) Releases Earnings Results, Beats Estimates By $0.03 EPS
Gibraltar Industries, Inc. (NASDAQ:ROCK) issued its earnings results on Thursday. The construction company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03, Briefing.com reports. The business had revenue of $247.63 million for the quarter, compared to analysts’ expectations of $251.97 million. Gibraltar Industries had a return on equity of 10.49% and a net margin of 2.77%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. Gibraltar Industries updated its Q3 guidance to $0.58-0.65 EPS and its FY17 guidance to $1.57-1.70 EPS.
Gibraltar Industries (NASDAQ ROCK) traded down 0.733% during mid-day trading on Thursday, reaching $30.475. The company had a trading volume of 783,166 shares. The stock has a market cap of $965.66 million, a PE ratio of 34.280 and a beta of 1.86. The firm’s 50-day moving average price is $34.06 and its 200-day moving average price is $37.78. Gibraltar Industries has a 12 month low of $28.05 and a 12 month high of $48.05.
A number of institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Gibraltar Industries during the first quarter worth about $112,000. LS Investment Advisors LLC boosted its position in Gibraltar Industries by 175.4% in the first quarter. LS Investment Advisors LLC now owns 3,368 shares of the construction company’s stock worth $139,000 after buying an additional 2,145 shares during the period. State of Alaska Department of Revenue boosted its position in Gibraltar Industries by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 3,490 shares of the construction company’s stock worth $143,000 after buying an additional 100 shares during the period. GW&K Investment Management LLC purchased a new position in Gibraltar Industries during the first quarter worth about $209,000. Finally, BNP Paribas Arbitrage SA boosted its position in Gibraltar Industries by 14.1% in the first quarter. BNP Paribas Arbitrage SA now owns 6,223 shares of the construction company’s stock worth $256,000 after buying an additional 771 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Gibraltar Industries, Inc. (NASDAQ:ROCK) Releases Earnings Results, Beats Estimates By $0.03 EPS” was posted by American Banking News and is the property of of American Banking News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/07/27/gibraltar-industries-inc-nasdaqrock-releases-earnings-results-beats-estimates-by-0-03-eps.html.
A number of research analysts have recently weighed in on ROCK shares. BidaskClub downgraded Gibraltar Industries from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research upgraded Gibraltar Industries from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, KeyCorp reiterated an “overweight” rating and set a $19.00 price target (down previously from $49.00) on shares of Gibraltar Industries in a report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $37.00.
Gibraltar Industries Company Profile
Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.
Receive News & Ratings for Gibraltar Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gibraltar Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.