SunTrust Banks Equities Analysts Boost Earnings Estimates for GMS Inc. (GMS)
GMS Inc. (NYSE:GMS) – Research analysts at SunTrust Banks lifted their Q4 2018 earnings per share estimates for GMS in a report issued on Monday. SunTrust Banks analyst K. Hughes now expects that the brokerage will earn $0.61 per share for the quarter, up from their prior forecast of $0.60. SunTrust Banks has a “Buy” rating and a $28.00 price target on the stock.
A number of other brokerages also recently weighed in on GMS. Royal Bank Of Canada lifted their price target on GMS from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, July 13th. Robert W. Baird reiterated a “neutral” rating and set a $25.00 price target on shares of GMS in a report on Thursday, September 1st. Zacks Investment Research upgraded GMS from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Thursday, September 15th. RBC Capital Markets reiterated an “outperform” rating and set a $26.00 price target (down previously from $28.00) on shares of GMS in a report on Wednesday, September 14th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of GMS in a report on Tuesday, June 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $26.00.
Shares of GMS (NYSE:GMS) traded down 0.7026% during midday trading on Tuesday, hitting $22.1731. The company had a trading volume of 2,925 shares. The company’s 50 day moving average is $23.11 and its 200 day moving average is $23.20. The firm has a market cap of $907.81 million and a price-to-earnings ratio of 40.5358. GMS has a one year low of $19.28 and a one year high of $26.42.
GMS (NYSE:GMS) last released its quarterly earnings data on Tuesday, September 13th. The company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The firm earned $549.80 million during the quarter. The company’s quarterly revenue was up 21.5% compared to the same quarter last year.
Several hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new stake in shares of GMS during the second quarter worth $16,736,000. American Century Companies Inc. bought a new stake in shares of GMS during the second quarter worth $13,442,000. Citadel Advisors LLC bought a new stake in shares of GMS during the second quarter worth $11,090,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of GMS during the second quarter worth $10,583,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of GMS during the second quarter worth $10,404,000. 19.72% of the stock is owned by institutional investors.
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.
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