$857.81 Million in Sales Expected for GMS Inc (NYSE:GMS) This Quarter

Equities analysts expect GMS Inc (NYSE:GMS) to report $857.81 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for GMS’s earnings, with the highest sales estimate coming in at $875.10 million and the lowest estimate coming in at $839.95 million. GMS posted sales of $833.84 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The business is scheduled to report its next quarterly earnings results on Tuesday, December 3rd.

According to Zacks, analysts expect that GMS will report full-year sales of $3.28 billion for the current year, with estimates ranging from $3.23 billion to $3.32 billion. For the next year, analysts forecast that the business will post sales of $3.42 billion, with estimates ranging from $3.35 billion to $3.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow GMS.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. GMS had a return on equity of 18.99% and a net margin of 2.27%. The business had revenue of $847.20 million for the quarter, compared to the consensus estimate of $837.65 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. GMS’s revenue for the quarter was up 8.9% compared to the same quarter last year.

A number of brokerages have recently weighed in on GMS. SunTrust Banks lifted their price target on GMS from $23.00 to $32.00 and gave the company a “buy” rating in a report on Friday, August 30th. TheStreet upgraded GMS from a “c+” rating to a “b-” rating in a report on Friday, September 27th. Raymond James set a $31.00 price target on GMS and gave the company a “buy” rating in a report on Friday, August 30th. Zacks Investment Research downgraded GMS from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, ValuEngine downgraded GMS from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. GMS has an average rating of “Buy” and an average price target of $29.90.

Shares of GMS stock traded down $0.75 on Friday, reaching $29.98. 318,200 shares of the company’s stock traded hands, compared to its average volume of 613,996. GMS has a 12-month low of $13.61 and a 12-month high of $30.98. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.46 and a current ratio of 2.29. The company has a market capitalization of $1.25 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 1.38 and a beta of 2.17. The business’s 50 day moving average price is $28.34 and its two-hundred day moving average price is $22.25.

In other GMS news, Director Ronald R. Ross sold 30,474 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $27.97, for a total value of $852,357.78. Following the transaction, the director now owns 285,365 shares in the company, valued at $7,981,659.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Investors Fund V. Lp Aea sold 6,825,058 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $26.93, for a total value of $183,798,811.94. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of GMS. FMR LLC boosted its stake in shares of GMS by 27.6% during the 1st quarter. FMR LLC now owns 1,568,460 shares of the company’s stock worth $23,715,000 after acquiring an additional 338,959 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of GMS by 48.2% during the 1st quarter. First Trust Advisors LP now owns 137,357 shares of the company’s stock worth $2,077,000 after acquiring an additional 44,700 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of GMS during the 2nd quarter worth about $415,000. Louisiana State Employees Retirement System bought a new stake in shares of GMS during the 2nd quarter worth about $275,000. Finally, New York State Teachers Retirement System bought a new stake in shares of GMS during the 2nd quarter worth about $472,000. Hedge funds and other institutional investors own 71.86% of the company’s stock.

About GMS

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings.

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Earnings History and Estimates for GMS (NYSE:GMS)

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