SunTrust Banks Analysts Reduce Earnings Estimates for GMS Inc. (GMS)
GMS Inc. (NYSE:GMS) – Stock analysts at SunTrust Banks decreased their Q2 2017 earnings per share (EPS) estimates for GMS in a note issued to investors on Monday. SunTrust Banks analyst K. Hughes now forecasts that the brokerage will post earnings per share of $0.50 for the quarter, down from their previous forecast of $0.55. SunTrust Banks has a “Buy” rating and a $28.00 price objective on the stock. SunTrust Banks also issued estimates for GMS’s Q3 2017 earnings at $0.28 EPS, Q4 2017 earnings at $0.46 EPS and FY2017 earnings at $1.70 EPS.
GMS (NYSE:GMS) last issued its quarterly earnings results on Tuesday, September 13th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. The company had revenue of $549.80 million for the quarter. The company’s revenue for the quarter was up 21.5% on a year-over-year basis.
Several other research analysts have also weighed in on GMS. Zacks Investment Research raised shares of GMS from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday. RBC Capital Markets reissued an “outperform” rating and issued a $26.00 price objective (down previously from $28.00) on shares of GMS in a research note on Wednesday, September 14th. Credit Suisse Group AG reissued a “buy” rating on shares of GMS in a research note on Tuesday, June 28th. Robert W. Baird began coverage on shares of GMS in a research note on Monday, June 20th. They issued a “neutral” rating and a $25.00 price objective for the company. Finally, Raymond James Financial Inc. began coverage on shares of GMS in a research note on Monday, June 20th. They issued an “outperform” rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $26.00.
Shares of GMS (NYSE:GMS) traded up 2.369% on Wednesday, reaching $22.685. 71,756 shares of the company’s stock were exchanged. The firm has a market capitalization of $928.77 million and a P/E ratio of 41.472. The firm has a 50 day moving average of $23.14 and a 200 day moving average of $23.21. GMS has a one year low of $19.28 and a one year high of $26.42.
Hedge funds have recently added to or reduced their stakes in the company. Nationwide Fund Advisors bought a new stake in GMS during the second quarter worth $102,000. Nomura Holdings Inc. bought a new stake in GMS during the second quarter worth $249,000. Schwab Charles Investment Management Inc. bought a new stake in GMS during the second quarter worth $256,000. Bank of New York Mellon Corp bought a new stake in GMS during the second quarter worth $304,000. Finally, California State Teachers Retirement System bought a new stake in GMS during the second quarter worth $332,000. 19.72% of the stock is currently owned by institutional investors.
GMS Company Profile
GMS Inc is a distributor of wallboard and suspended ceilings systems. The Company’s seven segments include Central, Northeast, Southern, Southeast, Southwest and Western, Tool Source Warehouse, Inc and other. It offers wallboard, which is used in building products for interior and exterior walls, and ceilings in residential and commercial structures.
Receive News & Stock Ratings for GMS Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GMS Inc. and related stocks with our FREE daily email newsletter.