Wall Street brokerages expect that Thermon Group Holdings, Inc. (NYSE:THR) will announce $63.30 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Thermon Group Holdings’ earnings, with estimates ranging from $57.80 million to $66.20 million. Thermon Group Holdings reported sales of $68.81 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 8%. The business is scheduled to issue its next earnings results on Wednesday, November 1st.

According to Zacks, analysts expect that Thermon Group Holdings will report full year sales of $63.30 million for the current fiscal year, with estimates ranging from $238.79 million to $254.70 million. For the next financial year, analysts forecast that the firm will post sales of $270.73 million per share, with estimates ranging from $269.50 million to $272.70 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Thermon Group Holdings.

Thermon Group Holdings (NYSE:THR) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The company had revenue of $51.70 million for the quarter, compared to analyst estimates of $58.35 million. Thermon Group Holdings had a return on equity of 3.88% and a net margin of 4.99%. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period last year, the firm earned $0.08 EPS.

A number of brokerages recently weighed in on THR. BidaskClub lowered shares of Thermon Group Holdings from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Wolfe Research lowered shares of Thermon Group Holdings from a “market perform” rating to an “underperform” rating in a research note on Friday, August 18th. Zacks Investment Research lowered shares of Thermon Group Holdings from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. ValuEngine upgraded shares of Thermon Group Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets decreased their target price on shares of Thermon Group Holdings from $23.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.50.

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Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Thermon Group Holdings during the first quarter worth $109,000. Victory Capital Management Inc. raised its stake in shares of Thermon Group Holdings by 32.5% in the first quarter. Victory Capital Management Inc. now owns 6,719 shares of the technology company’s stock worth $140,000 after buying an additional 1,647 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Thermon Group Holdings by 4.1% in the second quarter. Legal & General Group Plc now owns 8,143 shares of the technology company’s stock worth $155,000 after buying an additional 320 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Thermon Group Holdings during the first quarter worth $215,000. Finally, Wrapmanager Inc. bought a new stake in shares of Thermon Group Holdings during the first quarter worth $223,000.

Thermon Group Holdings (THR) opened at 16.15 on Friday. Thermon Group Holdings has a 52-week low of $15.74 and a 52-week high of $21.48. The firm has a market cap of $523.29 million, a price-to-earnings ratio of 42.61 and a beta of 0.98. The firm’s 50 day moving average price is $17.70 and its 200 day moving average price is $19.31.

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Earnings History and Estimates for Thermon Group Holdings (NYSE:THR)

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