FGI Industries (NASDAQ:FGI) Releases Quarterly Earnings Results, Misses Estimates By $0.33 EPS

FGI Industries (NASDAQ:FGI) released its quarterly earnings data on Thursday. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.33), FiscalAI reports. FGI Industries had a negative net margin of 3.07% and a positive return on equity of 10.02%. The firm had revenue of $31.69 million during the quarter, compared to analyst estimates of $37.41 million.

FGI Industries Trading Up 6.2%

FGI Industries stock traded up $0.49 during midday trading on Thursday, hitting $8.42. The stock had a trading volume of 30,421 shares, compared to its average volume of 11,279. The business has a fifty day moving average price of $7.85 and a 200 day moving average price of $6.06. FGI Industries has a 12 month low of $3.14 and a 12 month high of $19.93. The stock has a market cap of $16.25 million, a P/E ratio of 9.55 and a beta of 2.26.

Wall Street Analysts Forecast Growth

FGI has been the topic of several research reports. Benchmark reissued a “speculative buy” rating and issued a $13.00 price objective (up from $8.00) on shares of FGI Industries in a research report on Friday, August 14th. Wall Street Zen raised shares of FGI Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. UBS Group set a $13.00 price target on shares of FGI Industries in a research note on Friday, August 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of FGI Industries in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.00.

About FGI Industries

FGI Industries Ltd. is a global manufacturer and distributor of bathroom and kitchen products. The company supplies products for residential, hospitality, commercial and multifamily construction applications through retail, wholesale and e-commerce channels. Its product portfolio includes bathroom vanities and furniture, bathtubs, shower systems and enclosures, toilets, sinks, faucets, mirrors and related accessories. FGI markets products under brands that include Foremost, Jetcoat and Bootz, serving customers across North America and other international markets.