Analysts Expect GMS Inc. (NYSE:GMS) Will Post Quarterly Sales of $1.06 Billion

Wall Street brokerages expect GMS Inc. (NYSE:GMS) to report $1.06 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for GMS’s earnings. GMS posted sales of $812.86 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 30.4%. The company is scheduled to issue its next earnings results on Thursday, December 2nd.

On average, analysts expect that GMS will report full-year sales of $4.14 billion for the current fiscal year, with estimates ranging from $4.07 billion to $4.22 billion. For the next financial year, analysts anticipate that the firm will report sales of $4.30 billion, with estimates ranging from $4.07 billion to $4.53 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow GMS.

GMS (NYSE:GMS) last posted its quarterly earnings data on Wednesday, September 1st. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.41. GMS had a return on equity of 23.44% and a net margin of 3.94%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $973.78 million. During the same period in the previous year, the business earned $0.94 EPS. GMS’s revenue for the quarter was up 29.8% compared to the same quarter last year.

GMS has been the subject of several research reports. Robert W. Baird lifted their target price on GMS from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, September 3rd. Truist lifted their target price on GMS from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Barclays boosted their price objective on GMS from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 8th. Zacks Investment Research upgraded GMS from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Monday, September 6th. Finally, Stephens upgraded GMS from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $43.00 to $56.00 in a research report on Friday, June 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $59.29.

GMS stock traded up $1.30 during midday trading on Monday, hitting $45.69. 1,303 shares of the company’s stock were exchanged, compared to its average volume of 267,260. The company has a current ratio of 2.06, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. GMS has a 12-month low of $22.07 and a 12-month high of $53.85. The firm has a 50 day moving average price of $47.72 and a 200-day moving average price of $45.95. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 14.20 and a beta of 2.09.

In other news, major shareholder Coliseum Capital Management, L acquired 111,482 shares of the company’s stock in a transaction dated Thursday, September 2nd. The shares were bought at an average price of $50.57 per share, with a total value of $5,637,644.74. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John J. Gavin sold 6,160 shares of the business’s stock in a transaction on Monday, September 27th. The stock was sold at an average price of $47.86, for a total value of $294,817.60. The disclosure for this sale can be found here. Insiders have acquired a total of 240,729 shares of company stock valued at $11,501,175 in the last quarter. 1.40% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Coliseum Capital Management LLC raised its position in GMS by 9.1% during the second quarter. Coliseum Capital Management LLC now owns 4,963,943 shares of the company’s stock valued at $238,964,000 after buying an additional 414,950 shares during the period. FMR LLC raised its position in GMS by 34.7% during the second quarter. FMR LLC now owns 3,325,169 shares of the company’s stock valued at $160,074,000 after buying an additional 857,486 shares during the period. Federated Hermes Inc. raised its position in GMS by 31.1% during the second quarter. Federated Hermes Inc. now owns 1,931,887 shares of the company’s stock valued at $93,001,000 after buying an additional 458,110 shares during the period. American Century Companies Inc. raised its position in GMS by 35.4% during the second quarter. American Century Companies Inc. now owns 1,487,027 shares of the company’s stock valued at $71,585,000 after buying an additional 388,429 shares during the period. Finally, State Street Corp raised its position in GMS by 3.5% during the second quarter. State Street Corp now owns 1,390,363 shares of the company’s stock valued at $66,932,000 after buying an additional 46,419 shares during the period. 98.35% of the stock is currently owned by institutional investors.

About GMS

GMS, Inc is a holding company, which engages in the distribution of wallboard and suspended ceilings systems and complementary interior construction products. It operates through the following segments: Geographic Divisions, Other, and Corporate. The firm offers ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings.

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Earnings History and Estimates for GMS (NYSE:GMS)

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