GMR Solutions (NYSE:GMRS) Releases Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• GMR Solutions reported quarterly EPS of $0.64, beating analysts’ consensus estimate of $0.47 by $0.17.
• Shares fell $1.19 to $11.25 during Monday trading. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $18.78.
• Insiders sold 2.35 million shares worth about $28.7 million over the past three months; the cited executive sales were to cover tax withholding on vested equity awards.

GMR Solutions (NYSE:GMRS - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.17, Zacks reports.

GMR Solutions Price Performance

NYSE GMRS traded down $1.19 during trading hours on Monday, reaching $11.25. 3,022,648 shares of the stock traded hands, compared to its average volume of 886,917. The firm has a 50 day moving average price of $11.38. GMR Solutions has a 1 year low of $8.99 and a 1 year high of $15.98. The company has a debt-to-equity ratio of 5.50, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market cap of $607.73 million and a P/E ratio of -7.21.

Analyst Ratings Changes

Several research analysts recently weighed in on GMRS shares. Weiss Ratings assumed coverage on shares of GMR Solutions in a research report on Friday, August 14th. They issued a "sell (d)" rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of GMR Solutions from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Friday, September 11th. Finally, The Goldman Sachs Group set a $30.00 target price on shares of GMR Solutions in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.78.

Insider Transactions at GMR Solutions

In other news, EVP Thomas A. A Cook sold 251,882 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.20, for a total value of $3,072,960.40. Following the completion of the transaction, the executive vice president directly owned 675,686 shares in the company, valued at approximately $8,243,369.20. This represents a 27.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Horne Edward Van sold 262,278 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $3,199,791.60. Following the transaction, the chief operating officer owned 575,004 shares in the company, valued at $7,015,048.80. This trade represents a 31.32% decrease in their ownership of the stock. 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. In the last three months, insiders sold 2,353,423 shares of company stock worth $28,711,761.

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.

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