Brokerages predict that Thermon Group Holdings Inc (NYSE:THR) will post $87.34 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Thermon Group’s earnings, with the highest sales estimate coming in at $88.40 million and the lowest estimate coming in at $86.28 million. Thermon Group reported sales of $61.63 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 41.7%. The business is expected to announce its next quarterly earnings results on Monday, October 22nd.
According to Zacks, analysts expect that Thermon Group will report full-year sales of $384.32 million for the current year, with estimates ranging from $381.84 million to $386.80 million. For the next fiscal year, analysts expect that the business will post sales of $405.62 million per share, with estimates ranging from $400.94 million to $410.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Thermon Group.
Thermon Group (NYSE:THR) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. The company had revenue of $88.90 million for the quarter, compared to analyst estimates of $78.65 million. Thermon Group had a net margin of 4.19% and a return on equity of 9.55%. The firm’s revenue was up 71.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS.
Several brokerages recently issued reports on THR. Zacks Investment Research raised shares of Thermon Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. BMO Capital Markets lifted their price target on shares of Thermon Group from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 2nd. SunTrust Banks reaffirmed a “hold” rating and set a $26.00 price target on shares of Thermon Group in a report on Tuesday, August 7th. Finally, TheStreet raised shares of Thermon Group from a “c+” rating to a “b” rating in a report on Friday, May 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $27.80.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Van Berkom & Associates Inc. grew its holdings in Thermon Group by 0.7% during the 2nd quarter. Van Berkom & Associates Inc. now owns 2,532,067 shares of the technology company’s stock worth $57,908,000 after acquiring an additional 16,930 shares during the last quarter. BlackRock Inc. grew its holdings in Thermon Group by 3.9% during the 2nd quarter. BlackRock Inc. now owns 2,053,805 shares of the technology company’s stock worth $46,971,000 after acquiring an additional 77,602 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in Thermon Group by 3.5% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,899,170 shares of the technology company’s stock worth $43,434,000 after acquiring an additional 64,894 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Thermon Group by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,717,147 shares of the technology company’s stock worth $39,271,000 after acquiring an additional 28,635 shares during the last quarter. Finally, Carillon Tower Advisers Inc. grew its holdings in Thermon Group by 1.6% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,616,313 shares of the technology company’s stock worth $36,965,000 after acquiring an additional 25,000 shares during the last quarter.
Shares of Thermon Group stock traded up $0.25 during midday trading on Friday, hitting $26.07. 38,753 shares of the company traded hands, compared to its average volume of 83,511. The firm has a market capitalization of $843.32 million, a PE ratio of 26.70 and a beta of 1.12. The company has a current ratio of 3.93, a quick ratio of 2.66 and a debt-to-equity ratio of 0.64. Thermon Group has a 12 month low of $17.16 and a 12 month high of $27.95.
Thermon Group Company Profile
Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.
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