GMS Inc. (GMS) Expected to Announce Quarterly Sales of $662.36 Million
Equities analysts forecast that GMS Inc. (NYSE:GMS) will announce $662.36 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for GMS’s earnings. The highest sales estimate is $668.66 million and the lowest is $656.40 million. GMS posted sales of $591.85 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.9%. The business is scheduled to announce its next quarterly earnings report on Tuesday, December 12th.
According to Zacks, analysts expect that GMS will report full-year sales of $662.36 million for the current fiscal year, with estimates ranging from $2.57 billion to $2.61 billion. For the next financial year, analysts anticipate that the company will post sales of $2.78 billion per share, with estimates ranging from $2.72 billion to $2.82 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover GMS.
GMS (NYSE:GMS) last announced its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $642.20 million for the quarter, compared to the consensus estimate of $645.19 million. GMS had a net margin of 2.28% and a return on equity of 14.13%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of GMS from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Wednesday. Robert W. Baird restated a “buy” rating and set a $37.00 price objective on shares of GMS in a report on Monday, October 9th. Wells Fargo & Company assumed coverage on shares of GMS in a report on Wednesday, October 18th. They set a “market perform” rating and a $38.00 price objective on the stock. Finally, Royal Bank Of Canada restated a “buy” rating and set a $39.00 price objective on shares of GMS in a report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. GMS has a consensus rating of “Buy” and a consensus price target of $37.00.
In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $34.73, for a total value of $434,125.00. Following the sale, the chief executive officer now owns 528,418 shares in the company, valued at approximately $18,351,957.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lynn Ross sold 1,894 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $34.77, for a total value of $65,854.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,894 shares of company stock worth $931,479. 5.90% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new stake in GMS in the 1st quarter worth approximately $7,656,000. Canada Pension Plan Investment Board purchased a new stake in GMS in the 2nd quarter worth approximately $1,967,000. Bank of America Corp DE boosted its position in GMS by 0.3% in the 1st quarter. Bank of America Corp DE now owns 161,291 shares of the company’s stock worth $5,651,000 after purchasing an additional 489 shares in the last quarter. Koch Industries Inc. purchased a new stake in GMS in the 2nd quarter worth approximately $324,000. Finally, JPMorgan Chase & Co. boosted its position in GMS by 415.8% in the 1st quarter. JPMorgan Chase & Co. now owns 44,811 shares of the company’s stock worth $1,570,000 after purchasing an additional 36,124 shares in the last quarter. Institutional investors and hedge funds own 56.11% of the company’s stock.
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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