Analysts predict that GMS Inc. (NYSE:GMS) will report $809.05 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for GMS's earnings, with the highest sales estimate coming in at $815.00 million and the lowest estimate coming in at $802.56 million. GMS posted sales of $861.93 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.1%. The company is scheduled to issue its next earnings results on Thursday, December 3rd.
According to Zacks, analysts expect that GMS will report full-year sales of $3.10 billion for the current fiscal year, with estimates ranging from $3.08 billion to $3.11 billion. For the next financial year, analysts expect that the company will post sales of $3.16 billion, with estimates ranging from $3.06 billion to $3.24 billion. Zacks' sales calculations are an average based on a survey of sell-side research analysts that cover GMS.
GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.13. The firm had revenue of $802.60 million during the quarter, compared to analysts' expectations of $816.40 million. GMS had a net margin of 0.81% and a return on equity of 19.01%. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share.
A number of research analysts have commented on the stock. ValuEngine upgraded shares of GMS from a "strong sell" rating to a "sell" rating in a research note on Tuesday, September 1st. Raymond James raised their price target on shares of GMS from $28.00 to $30.00 and gave the stock a "strong-buy" rating in a research note on Friday, September 4th. Zacks Investment Research cut shares of GMS from a "buy" rating to a "hold" rating in a research note on Thursday, September 10th. Nomura raised their price objective on shares of GMS from $17.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Finally, Nomura Instinet raised their price objective on shares of GMS from $17.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of "Hold" and a consensus price target of $24.78.
Shares of GMS opened at $26.96 on Friday. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 46.48 and a beta of 1.95. The company has a quick ratio of 1.61, a current ratio of 2.39 and a debt-to-equity ratio of 1.46. GMS has a 12 month low of $10.39 and a 12 month high of $32.42. The company has a 50-day moving average price of $24.65 and a two-hundred day moving average price of $21.95.
Institutional investors have recently modified their holdings of the stock. Procyon Private Wealth Partners LLC acquired a new stake in shares of GMS in the first quarter valued at approximately $36,000. Cullen Frost Bankers Inc. acquired a new stake in shares of GMS in the second quarter valued at approximately $49,000. Point72 Hong Kong Ltd increased its holdings in shares of GMS by 136.2% in the second quarter. Point72 Hong Kong Ltd now owns 4,308 shares of the company's stock valued at $106,000 after purchasing an additional 2,484 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of GMS by 132.5% in the second quarter. Bank of Montreal Can now owns 7,123 shares of the company's stock valued at $160,000 after purchasing an additional 4,060 shares in the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of GMS in the second quarter valued at approximately $234,000. 93.88% of the stock is owned by institutional investors and hedge funds.
GMS Company Profile
GMS Inc distributes wallboards, suspended ceilings systems, and complementary building 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.
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7 Tech Stocks To Buy On Sale
This too shall pass. Those four words should be taped to the computer screen of every investor. If you own shares of the tech sector, you’ve seen your portfolio take quite a hit. Tech stocks were largely immune from the effects of the pandemic.
However, as investors are looking to rebalance their portfolios, tech stocks were obvious targets for some profit-taking. And at the end of the day, that’s what I believe the latest tech selloff amounts to. Stocks don’t move in one direction all the time. Sure, there may be some saber-rattling about breaking up big tech. But with an election in less than two months, nobody will have the political will to do anything.
That doesn’t mean that it’s all going to be smooth sailing. Sure, the Federal Reserve did its part by promising low-interest rates until the end of time (or at least through 2023 whatever comes first). But the rest of 2020 is likely to be volatile for stocks.
First, there’s still the novel coronavirus hanging around. It’s not going to simply disappear after election day. That will take some combination of a vaccine and/or therapeutic. And all the likely candidates seem to be getting farther away the deeper into clinical trials they get.
And we have an election. But we are not likely to know the winner of the election on election night. In fact, for those who remember the spectacle of “hanging chads”, this election could make that one look like amateur hour.
The bottom line is there will be uncertainty. But there are always gains to be found, particularly now that their stock price has come down a little bit. Here are seven tech stocks that you can look to add or increase a position in now that they’re trading at a discount.
View the "7 Tech Stocks To Buy On Sale".