GMS (NYSE:GMS) Releases Quarterly Earnings Results, Misses Estimates By $0.24 EPS

GMS (NYSE:GMS) issued its quarterly earnings results on Thursday. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.24), Zacks reports. GMS had a net margin of 4.45% and a return on equity of 22.02%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned $2.30 earnings per share. GMS’s revenue was up 3.5% compared to the same quarter last year.

GMS Trading Down 0.5 %

GMS stock opened at $102.20 on Thursday. GMS has a 52-week low of $68.13 and a 52-week high of $105.54. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The company has a market cap of $4.01 billion, a P/E ratio of 16.86 and a beta of 1.68. The business has a 50-day simple moving average of $95.38 and a two-hundred day simple moving average of $90.96.

Insider Activity

In other news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $102.13, for a total transaction of $510,650.00. Following the transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at $2,427,834.36. The trade was a 17.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GMS shares. Robert W. Baird raised their price target on GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial reduced their price objective on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Loop Capital lifted their price objective on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, November 25th. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, DA Davidson downgraded GMS from a “buy” rating to a “neutral” rating and set a $97.00 price objective for the company. in a report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.50.

GMS Company Profile

GMS Inc distributes wallboard, ceilings, steel framing and complementary construction products in the United States and Canada. The company 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.