Wall Street brokerages forecast that GMS Inc (NYSE:GMS) will report sales of $837.13 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for GMS’s earnings. The highest sales estimate is $847.00 million and the lowest is $829.00 million. GMS posted sales of $778.14 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.6%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, August 29th.

According to Zacks, analysts expect that GMS will report full-year sales of $3.27 billion for the current year, with estimates ranging from $3.20 billion to $3.32 billion. For the next financial year, analysts expect that the firm will post sales of $3.40 billion, with estimates ranging from $3.33 billion to $3.49 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow GMS.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, June 27th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). GMS had a return on equity of 18.94% and a net margin of 1.80%. The business had revenue of $780.10 million for the quarter, compared to the consensus estimate of $784.40 million. During the same period last year, the firm earned $0.56 earnings per share. The company’s quarterly revenue was up 22.7% compared to the same quarter last year.

Several brokerages have commented on GMS. Nomura reissued a “neutral” rating and set a $20.00 price target (down from $27.00) on shares of GMS in a research report on Thursday, May 16th. TheStreet raised shares of GMS from a “d+” rating to a “c-” rating in a research report on Thursday, May 2nd. Royal Bank of Canada set a $23.00 price target on shares of GMS and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research cut shares of GMS from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $24.22.

In other news, CEO G Michael Callahan, Jr. sold 28,950 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $22.61, for a total value of $654,559.50. Following the sale, the chief executive officer now directly owns 428,314 shares of the company’s stock, valued at approximately $9,684,179.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.90% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in shares of GMS by 69.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,735 shares of the company’s stock valued at $26,000 after purchasing an additional 714 shares during the period. Royce & Associates LP acquired a new position in shares of GMS during the 1st quarter worth approximately $36,000. Glen Harbor Capital Management LLC acquired a new position in shares of GMS during the 2nd quarter worth approximately $70,000. Bank of Montreal Can grew its position in shares of GMS by 419.9% during the 2nd quarter. Bank of Montreal Can now owns 3,296 shares of the company’s stock worth $73,000 after purchasing an additional 2,662 shares in the last quarter. Finally, Riverhead Capital Management LLC acquired a new position in shares of GMS during the 2nd quarter worth approximately $77,000. 72.05% of the stock is currently owned by institutional investors.

NYSE:GMS traded down $0.07 on Friday, hitting $21.30. 295,663 shares of the company’s stock were exchanged, compared to its average volume of 544,930. The business has a 50-day simple moving average of $22.27. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.24. GMS has a 52 week low of $13.61 and a 52 week high of $28.47. The stock has a market capitalization of $880.98 million, a P/E ratio of 7.61, a P/E/G ratio of 1.03 and a beta of 2.40.

GMS Company Profile

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.

Further Reading: Net Income

Get a free copy of the Zacks research report on GMS (GMS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for GMS (NYSE:GMS)

Receive News & Ratings for GMS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GMS and related companies with MarketBeat.com's FREE daily email newsletter.