Gibraltar Industries, Inc. (NASDAQ:ROCK) – Seaport Global Securities decreased their Q3 2017 earnings estimates for Gibraltar Industries in a report issued on Thursday. Seaport Global Securities analyst W. Liptak now anticipates that the construction company will post earnings per share of $0.58 for the quarter, down from their prior forecast of $0.65. Seaport Global Securities also issued estimates for Gibraltar Industries’ Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.60 EPS, Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.61 EPS, Q4 2018 earnings at $0.44 EPS and FY2018 earnings at $1.84 EPS.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Thursday, July 27th. The construction company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03. The firm had revenue of $247.63 million for the quarter, compared to the consensus estimate of $251.97 million. Gibraltar Industries had a net margin of 2.38% and a return on equity of 10.14%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. ILLEGAL ACTIVITY NOTICE: “Seaport Global Securities Analysts Cut Earnings Estimates for Gibraltar Industries, Inc. (ROCK)” was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://theolympiareport.com/2017/08/12/seaport-global-securities-analysts-cut-earnings-estimates-for-gibraltar-industries-inc-rock-updated.html.

Several other research firms also recently weighed in on ROCK. BidaskClub upgraded Gibraltar Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded Gibraltar Industries from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Finally, KeyCorp restated an “overweight” rating and issued a $19.00 price objective (down from $49.00) on shares of Gibraltar Industries in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.00.

Shares of Gibraltar Industries (NASDAQ:ROCK) opened at 30.20 on Monday. The stock has a 50 day moving average of $33.55 and a 200-day moving average of $37.35. Gibraltar Industries has a 52-week low of $28.05 and a 52-week high of $48.05. The stock has a market capitalization of $957.58 million, a P/E ratio of 43.20 and a beta of 1.86.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Gibraltar Industries by 81,038.7% in the first quarter. BlackRock Inc. now owns 3,777,007 shares of the construction company’s stock valued at $155,611,000 after buying an additional 3,772,352 shares during the last quarter. Vanguard Group Inc. increased its stake in Gibraltar Industries by 12.1% in the first quarter. Vanguard Group Inc. now owns 2,192,418 shares of the construction company’s stock valued at $90,327,000 after buying an additional 236,562 shares during the last quarter. Meridian Management Co. purchased a new stake in Gibraltar Industries during the first quarter valued at $1,719,000. Goldman Sachs Group Inc. increased its stake in Gibraltar Industries by 15.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,331,564 shares of the construction company’s stock valued at $54,860,000 after buying an additional 177,981 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK increased its stake in Gibraltar Industries by 20.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,110,626 shares of the construction company’s stock valued at $45,757,000 after buying an additional 189,929 shares during the last quarter. Hedge funds and other institutional investors own 99.06% of the company’s stock.

About Gibraltar Industries

Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.

Earnings History and Estimates for Gibraltar Industries (NASDAQ:ROCK)

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