GMS (NYSE:GMS) Issues Quarterly Earnings Results

GMS (NYSE:GMS - Get Free Report) released its earnings results on Wednesday. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.18, RTT News reports. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. GMS had a return on equity of 18.77% and a net margin of 2.61%. The company's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 earnings per share.

GMS Price Performance

NYSE:GMS opened at $73.18 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.38 and a current ratio of 2.30. The stock's 50-day simple moving average is $74.56 and its 200 day simple moving average is $79.31. The company has a market cap of $2.81 billion, a P/E ratio of 20.27 and a beta of 1.62. GMS has a 52-week low of $65.77 and a 52-week high of $105.54.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GMS. Loop Capital decreased their target price on GMS from $93.00 to $80.00 and set a "hold" rating for the company in a research report on Monday, March 10th. Truist Financial set a $80.00 price target on shares of GMS in a report on Tuesday. DA Davidson cut their price objective on GMS from $94.00 to $80.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. UBS Group set a $80.00 target price on GMS in a report on Friday, March 7th. Finally, Barclays reiterated an "equal weight" rating on shares of GMS in a research report on Tuesday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, GMS has a consensus rating of "Hold" and a consensus price target of $80.50.

Insider Transactions at GMS

In other GMS news, CEO John C. Turner, Jr. purchased 3,650 shares of GMS stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the acquisition, the chief executive officer now owns 66,928 shares of the company's stock, valued at approximately $4,684,960. This trade represents a 5.77% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Theron I. Gilliam sold 12,474 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the sale, the director now owns 31,507 shares in the company, valued at $2,314,504.22. This represents a 28.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On GMS

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of GMS by 105.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 373,738 shares of the company's stock worth $27,346,000 after acquiring an additional 191,737 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in GMS by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,464 shares of the company's stock worth $7,863,000 after buying an additional 13,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in GMS by 3.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,229 shares of the company's stock valued at $1,700,000 after acquiring an additional 755 shares during the last quarter. Finally, Strs Ohio bought a new stake in GMS in the first quarter valued at $73,000. Institutional investors own 95.28% of the company's stock.

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.