GMS Inc. (GMS) Releases Earnings Results, Hits Expectations
GMS Inc. (NYSE:GMS) released its quarterly earnings results on Wednesday. The company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47, Bloomberg Earnings reports. GMS had a net margin of 2.11% and a return on equity of 14.15%. The business had revenue of $642.20 million for the quarter, compared to analysts’ expectations of $645.19 million. During the same period last year, the business earned $0.46 EPS. The company’s revenue was up 16.8% compared to the same quarter last year.
GMS (NYSE:GMS) traded up 2.72% during mid-day trading on Thursday, hitting $34.33. 197,181 shares of the stock were exchanged. GMS has a 12-month low of $20.23 and a 12-month high of $36.99. The firm has a market cap of $1.41 billion, a P/E ratio of 28.85 and a beta of 3.31. The company has a 50 day moving average of $30.03 and a 200 day moving average of $32.08.
A number of research firms have recently weighed in on GMS. Royal Bank Of Canada raised their price target on shares of GMS from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday. Zacks Investment Research upgraded shares of GMS from a “sell” rating to a “hold” rating in a report on Monday. Stephens lowered their price target on shares of GMS from $40.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, July 3rd. Northcoast Research upgraded shares of GMS from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Monday, July 3rd. Finally, ValuEngine upgraded shares of GMS from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $36.33.
Several institutional investors have recently made changes to their positions in GMS. Citadel Advisors LLC grew its position in shares of GMS by 294.7% during the first quarter. Citadel Advisors LLC now owns 1,162,177 shares of the company’s stock worth $40,722,000 after buying an additional 867,736 shares in the last quarter. Vanguard Group Inc. grew its position in shares of GMS by 71.6% during the first quarter. Vanguard Group Inc. now owns 1,973,231 shares of the company’s stock worth $69,142,000 after buying an additional 822,997 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of GMS by 1,659.1% during the second quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock worth $23,250,000 after buying an additional 780,368 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of GMS by 13,592.0% during the first quarter. Wells Fargo & Company MN now owns 669,950 shares of the company’s stock worth $23,476,000 after buying an additional 665,057 shares in the last quarter. Finally, FMR LLC acquired a new position in shares of GMS during the first quarter worth about $20,972,000. 55.51% of the stock is owned by institutional investors and hedge funds.
GMS Company Profile
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.
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.