GMS Inc. (NYSE:GMS) – SunTrust Banks reduced their Q1 2018 earnings estimates for GMS in a research note issued on Friday. SunTrust Banks analyst K. Hughes now expects that the company will earn $0.44 per share for the quarter, down from their previous forecast of $0.54. SunTrust Banks also issued estimates for GMS’s Q2 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.58 EPS, Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.46 EPS, Q4 2019 earnings at $0.66 EPS and FY2019 earnings at $2.29 EPS.

A number of other brokerages have also recently issued reports on GMS. Northcoast Research upgraded GMS from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Monday. Royal Bank Of Canada reiterated a “buy” rating and issued a $38.00 target price on shares of GMS in a report on Monday, June 19th. ValuEngine upgraded GMS from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research cut GMS from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Finally, Seaport Global Securities initiated coverage on GMS in a report on Thursday, March 16th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. GMS currently has an average rating of “Buy” and a consensus price target of $36.17.

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GMS (NYSE GMS) traded down 3.826% during mid-day trading on Monday, hitting $27.525. 272,473 shares of the stock were exchanged. GMS has a 1-year low of $20.23 and a 1-year high of $36.99. The stock has a 50 day moving average price of $32.51 and a 200 day moving average price of $31.95. The company has a market capitalization of $1.13 billion, a PE ratio of 23.130 and a beta of 3.49.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, June 29th. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. GMS had a net margin of 2.11% and a return on equity of 14.35%. The firm had revenue of $615 million for the quarter, compared to analyst estimates of $614.93 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis.

Institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of GMS by 9.6% in the fourth quarter. State Street Corp now owns 123,409 shares of the company’s stock valued at $3,611,000 after buying an additional 10,847 shares during the period. GSA Capital Partners LLP boosted its position in shares of GMS by 9.6% in the fourth quarter. GSA Capital Partners LLP now owns 16,573 shares of the company’s stock valued at $485,000 after buying an additional 1,453 shares during the period. Nationwide Fund Advisors boosted its position in shares of GMS by 1,496.5% in the first quarter. Nationwide Fund Advisors now owns 73,185 shares of the company’s stock valued at $2,564,000 after buying an additional 68,601 shares during the period. Russell Investments Group Ltd. bought a new position in shares of GMS during the first quarter valued at $627,000. Finally, Emerald Mutual Fund Advisers Trust boosted its position in shares of GMS by 3.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 532,113 shares of the company’s stock valued at $18,645,000 after buying an additional 15,870 shares during the period. Institutional investors and hedge funds own 39.13% of the company’s stock.

In other GMS news, Chairman Richard K. Mueller sold 1,000,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $31.68, for a total transaction of $31,680,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Investors Lp Aea sold 2,902,129 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total value of $91,939,446.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,986,079 shares of company stock worth $126,278,983.

About GMS

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.

Earnings History and Estimates for GMS (NYSE:GMS)

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