GMS Inc. Expected to Earn Q2 2018 Earnings of $0.57 Per Share (GMS)
GMS Inc. (NYSE:GMS) – Equities researchers at Seaport Global Securities lifted their Q2 2018 earnings per share estimates for shares of GMS in a research report issued on Wednesday. Seaport Global Securities analyst M. Mccall now expects that the company will post earnings per share of $0.57 for the quarter, up from their previous estimate of $0.55. Seaport Global Securities also issued estimates for GMS’s Q4 2018 earnings at $0.61 EPS.
GMS (NYSE:GMS) last released its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $642.20 million during the quarter, compared to the consensus estimate of $645.19 million. GMS had a return on equity of 14.33% and a net margin of 2.28%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS.
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Other equities analysts have also recently issued research reports about the company. ValuEngine upgraded GMS from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Royal Bank Of Canada restated a “buy” rating and set a $38.00 price objective on shares of GMS in a report on Monday, June 19th. Zacks Investment Research cut GMS from a “hold” rating to a “sell” rating in a report on Monday, July 3rd. Northcoast Research upgraded GMS from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Monday, July 3rd. Finally, Stephens dropped their price target on shares of GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, July 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $36.33.
Shares of GMS (NYSE GMS) opened at 34.00 on Friday. GMS has a 1-year low of $20.23 and a 1-year high of $36.99. The stock’s 50 day moving average price is $30.15 and its 200 day moving average price is $32.10. The company has a market cap of $1.39 billion, a P/E ratio of 28.57 and a beta of 3.31.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of GMS by 17.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,312,282 shares of the company’s stock worth $64,976,000 after purchasing an additional 339,051 shares in the last quarter. Citadel Advisors LLC increased its stake in GMS by 3.2% in the 2nd quarter. Citadel Advisors LLC now owns 1,199,845 shares of the company’s stock valued at $33,716,000 after buying an additional 37,668 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in GMS by 6.2% in the 1st 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. Wells Fargo & Company MN increased its stake in GMS by 43.4% in the 2nd quarter. Wells Fargo & Company MN now owns 960,661 shares of the company’s stock valued at $26,994,000 after buying an additional 290,711 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in GMS by 1,659.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock valued at $23,250,000 after buying an additional 780,368 shares during the last quarter. 55.51% of the stock is currently owned by institutional investors.
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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