GMS (GMS) Scheduled to Post Earnings on Thursday

Posted by Defense World Staff on Jun 15th, 2023

GMS (NYSE:GMS – Get Rating) will release its earnings data before the market opens on Thursday, June 22nd. Analysts expect GMS to post earnings of $1.91 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

GMS Stock Performance

Shares of NYSE GMS opened at $66.67 on Thursday. GMS has a 12 month low of $36.10 and a 12 month high of $68.86. The company has a market cap of $2.75 billion, a P/E ratio of 8.59 and a beta of 1.85. The business’s 50 day moving average is $60.70 and its two-hundred day moving average is $57.05. The company has a quick ratio of 1.58, a current ratio of 2.53 and a debt-to-equity ratio of 0.95.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Barclays lifted their price objective on GMS from $60.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, March 6th. StockNews.com raised GMS from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 30th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GMS currently has an average rating of “Moderate Buy” and an average target price of $62.00.

Insider Activity at GMS

In related news, major shareholder Coliseum Capital Management, L sold 201,213 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $67.93, for a total value of $13,668,399.09. Following the sale, the insider now owns 6,135,360 shares of the company’s stock, valued at approximately $416,775,004.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Coliseum Capital Management, L sold 201,213 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $67.93, for a total value of $13,668,399.09. Following the sale, the insider now owns 6,135,360 shares of the company’s stock, valued at approximately $416,775,004.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO George T. Hendren sold 800 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $60.00, for a total value of $48,000.00. Following the completion of the sale, the chief operating officer now directly owns 23,437 shares in the company, valued at approximately $1,406,220. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On GMS

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in GMS by 3.0% in the third quarter. Vanguard Group Inc. now owns 5,242,989 shares of the company’s stock worth $209,773,000 after purchasing an additional 154,926 shares in the last quarter. State Street Corp raised its position in shares of GMS by 0.5% during the first quarter. State Street Corp now owns 1,596,626 shares of the company’s stock worth $92,429,000 after acquiring an additional 7,235 shares during the last quarter. Geode Capital Management LLC raised its position in shares of GMS by 3.3% during the first quarter. Geode Capital Management LLC now owns 777,524 shares of the company’s stock worth $45,011,000 after acquiring an additional 24,791 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of GMS by 21.9% during the first quarter. JPMorgan Chase & Co. now owns 613,047 shares of the company’s stock worth $35,489,000 after acquiring an additional 110,185 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of GMS during the first quarter worth $28,532,000. Institutional investors and hedge funds own 96.34% of the company’s stock.

GMS Company Profile

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GMS, Inc is a holding company, which engages in the distribution of wallboard and suspended ceilings systems and complementary interior construction products. It operates through the following segments: Geographic Divisions, Other, and Corporate. The firm offers ceiling 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.

Earnings History for GMS (NYSE:GMS)

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