Q1 2018 Earnings Forecast for GMS Inc. (GMS) Issued By SunTrust Banks
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.
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.
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