GMS Inc (GMS) Expected to Post Earnings of $0.96 Per Share

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Wall Street analysts predict that GMS Inc (NYSE:GMS) will announce earnings per share of $0.96 for the current quarter, Zacks reports. Four analysts have provided estimates for GMS’s earnings, with the highest EPS estimate coming in at $1.01 and the lowest estimate coming in at $0.93. GMS posted earnings of $0.51 per share during the same quarter last year, which would indicate a positive year over year growth rate of 88.2%. The company is expected to announce its next earnings results on Thursday, December 6th.

On average, analysts expect that GMS will report full year earnings of $3.30 per share for the current fiscal year, with EPS estimates ranging from $3.21 to $3.35. For the next financial year, analysts forecast that the firm will report earnings of $3.78 per share, with EPS estimates ranging from $3.63 to $3.98. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover GMS.

GMS (NYSE:GMS) last issued its earnings results on Thursday, August 30th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. GMS had a return on equity of 15.18% and a net margin of 2.13%. The business had revenue of $778.10 million during the quarter, compared to analysts’ expectations of $768.61 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year.

GMS has been the subject of a number of recent research reports. Raymond James upped their target price on GMS from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, August 31st. TheStreet lowered GMS from a “b-” rating to a “c” rating in a research report on Thursday, June 28th. Zacks Investment Research lowered GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 3rd. ValuEngine lowered GMS from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. Finally, Barclays began coverage on GMS in a research report on Friday, June 29th. They issued an “overweight” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. GMS currently has an average rating of “Buy” and an average target price of $36.40.

In related news, Director John J. Gavin purchased 4,150 shares of GMS stock in a transaction on Monday, September 10th. The shares were purchased at an average price of $24.13 per share, for a total transaction of $100,139.50. Following the transaction, the director now owns 16,966 shares of the company’s stock, valued at approximately $409,389.58. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Richard Alan Adams purchased 3,000 shares of GMS stock in a transaction on Wednesday, September 5th. The stock was bought at an average price of $24.14 per share, for a total transaction of $72,420.00. Following the transaction, the vice president now directly owns 175,000 shares in the company, valued at approximately $4,224,500. The disclosure for this purchase can be found here. Insiders acquired a total of 9,211 shares of company stock worth $222,559 in the last quarter. Corporate insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GMS. BlackRock Inc. boosted its position in shares of GMS by 13.7% during the 2nd quarter. BlackRock Inc. now owns 2,176,031 shares of the company’s stock valued at $58,949,000 after purchasing an additional 262,423 shares in the last quarter. Millennium Management LLC boosted its position in shares of GMS by 28.9% during the 1st quarter. Millennium Management LLC now owns 1,540,256 shares of the company’s stock valued at $47,070,000 after purchasing an additional 345,121 shares in the last quarter. FMR LLC boosted its position in shares of GMS by 1.0% during the 2nd quarter. FMR LLC now owns 1,134,700 shares of the company’s stock valued at $30,739,000 after purchasing an additional 10,700 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of GMS by 0.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 983,380 shares of the company’s stock valued at $26,640,000 after purchasing an additional 4,675 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of GMS by 33.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 891,608 shares of the company’s stock valued at $24,151,000 after purchasing an additional 225,233 shares in the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.

GMS traded down $0.30 on Friday, reaching $17.63. The stock had a trading volume of 533,174 shares, compared to its average volume of 530,359. GMS has a fifty-two week low of $17.52 and a fifty-two week high of $39.98. The company has a quick ratio of 1.93, a current ratio of 3.08 and a debt-to-equity ratio of 2.05. The stock has a market cap of $737.62 million, a PE ratio of 8.77, a PEG ratio of 0.78 and a beta of 1.25.

About GMS

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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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