GMS (NYSE:GMS) Issues Quarterly Earnings Results

GMS (NYSE:GMS) posted its 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. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. GMS’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.30 EPS.

GMS Trading Down 4.4 %

Shares of GMS opened at $97.78 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31. GMS has a fifty-two week low of $68.13 and a fifty-two week high of $105.54. The firm has a 50 day moving average price of $95.56 and a 200-day moving average price of $91.00. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 16.14 and a beta of 1.68.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the sale, the chief operating officer now owns 23,772 shares in the company, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GMS has been the topic of a number of analyst reports. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Barclays reduced their target price on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. DA Davidson lowered shares of GMS from a “buy” rating to a “neutral” rating and set a $97.00 price objective for the company. in a research report on Tuesday, November 26th. Truist Financial decreased their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Finally, Loop Capital raised their price target on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a report on Monday, November 25th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.50.

About GMS

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.