GMS (NYSE:GMS) Posts Earnings Results, Beats Expectations By $0.14 EPS

GMS (NYSE:GMS) posted its quarterly earnings results on Wednesday. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.14, RTT News reports. GMS had a net margin of 2.61% and a return on equity of 18.77%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company posted $1.93 earnings per share.

GMS Trading Down 3.9%

Shares of GMS stock opened at $73.18 on Wednesday. The company’s fifty day simple moving average is $74.56 and its 200-day simple moving average is $79.31. The stock has a market capitalization of $2.81 billion, a PE ratio of 20.27 and a beta of 1.62. GMS has a 1-year low of $65.77 and a 1-year high of $105.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.30 and a quick ratio of 1.38.

Insider Transactions at GMS

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

Institutional Trading of GMS

Several institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio bought a new stake in shares of GMS during the 1st quarter valued at $73,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 valued at $7,863,000 after purchasing an additional 13,084 shares during the period. Goldman Sachs Group Inc. increased its holdings in GMS by 105.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 373,738 shares of the company’s stock valued at $27,346,000 after acquiring an additional 191,737 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in GMS by 3.4% in the 1st 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. 95.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GMS has been the topic of several research reports. Robert W. Baird set a $93.00 target price on shares of GMS in a report on Tuesday. Barclays restated an “equal weight” rating on shares of GMS in a report on Tuesday. UBS Group set a $80.00 target price on shares of GMS in a report on Friday, March 7th. Royal Bank Of Canada restated a “sector perform” rating on shares of GMS in a report on Tuesday. Finally, DA Davidson dropped their target price on shares of GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, GMS currently has an average rating of “Hold” and an average price target of $80.50.

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.