GMR Solutions (NYSE:GMRS) Posts Earnings Results, Beats Estimates By $0.17 EPS

GMR Solutions (NYSE:GMRS) announced its quarterly earnings results on Monday. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.17, Zacks reports. The firm had revenue of $1.60 billion during the quarter.

GMR Solutions Trading Down 9.6%

Shares of GMR Solutions stock traded down $1.19 during trading on Monday, reaching $11.25. The stock had a trading volume of 3,022,648 shares, compared to its average volume of 886,917. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 5.50. The company has a market cap of $607.73 million and a P/E ratio of -7.21. The business’s fifty day simple moving average is $11.38. GMR Solutions has a 52 week low of $8.99 and a 52 week high of $15.98.

Wall Street Analysts Forecast Growth

GMRS has been the topic of several research analyst reports. The Goldman Sachs Group set a $30.00 price objective on GMR Solutions in a research note on Tuesday, August 18th. Weiss Ratings initiated coverage on GMR Solutions in a research note on Friday, August 14th. They issued a “sell (d)” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on GMR Solutions from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.78.

Insider Buying and Selling at GMR Solutions

In related news, CFO Brian Scott Tierney sold 265,794 shares of GMR Solutions stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $12.20, for a total value of $3,242,686.80. Following the sale, the chief financial officer owned 554,955 shares of the company’s stock, valued at approximately $6,770,451. This trade represents a 32.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nicola Loporcaro sold 1,457,102 shares of GMR Solutions stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $17,776,644.40. Following the completion of the sale, the chief executive officer directly owned 2,855,580 shares in the company, valued at approximately $34,838,076. This represents a 33.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 2,353,423 shares of company stock valued at $28,711,761 in the last 90 days.

About GMR Solutions

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.