Wall Street analysts expect that Gibraltar Industries, Inc. (NASDAQ:ROCK) will post $0.90 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Gibraltar Industries’ earnings. The highest EPS estimate is $0.94 and the lowest is $0.86. Gibraltar Industries reported earnings per share of $0.84 during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.1%. The company is expected to announce its next earnings report before the market opens on Tuesday, August 3rd.
According to Zacks, analysts expect that Gibraltar Industries will report full-year earnings of $3.41 per share for the current financial year, with EPS estimates ranging from $3.36 to $3.46. For the next fiscal year, analysts anticipate that the business will post earnings of $3.93 per share, with EPS estimates ranging from $3.85 to $4.01. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Gibraltar Industries.
Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, May 5th. The construction company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. The firm had revenue of $287.60 million during the quarter, compared to analyst estimates of $274.75 million. Gibraltar Industries had a return on equity of 13.46% and a net margin of 5.59%. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS.
Separately, Zacks Investment Research upgraded shares of Gibraltar Industries from a “sell” rating to a “hold” rating and set a $97.00 price target on the stock in a report on Tuesday, May 4th.
In other news, Director Linda Kristine Myers purchased 962 shares of the business’s stock in a transaction on Thursday, May 20th. The shares were acquired at an average cost of $77.71 per share, with a total value of $74,757.02. Following the completion of the acquisition, the director now owns 3,122 shares of the company’s stock, valued at $242,610.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.40% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Gibraltar Industries by 2.6% during the first quarter. BlackRock Inc. now owns 5,331,129 shares of the construction company’s stock worth $487,854,000 after acquiring an additional 135,944 shares during the last quarter. Swiss National Bank boosted its stake in Gibraltar Industries by 1.1% in the 1st quarter. Swiss National Bank now owns 74,300 shares of the construction company’s stock worth $6,799,000 after purchasing an additional 800 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in Gibraltar Industries during the 1st quarter worth approximately $15,227,000. Russell Investments Group Ltd. acquired a new position in Gibraltar Industries during the 1st quarter valued at approximately $294,000. Finally, Royce & Associates LP increased its stake in Gibraltar Industries by 11.1% during the 1st quarter. Royce & Associates LP now owns 316,997 shares of the construction company’s stock valued at $29,008,000 after purchasing an additional 31,740 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.
ROCK opened at $72.64 on Wednesday. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 36.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.36 and a quick ratio of 0.95. The company has a 50-day moving average of $76.42. Gibraltar Industries has a 1 year low of $50.43 and a 1 year high of $103.02.
About Gibraltar Industries
Gibraltar Industries, Inc manufactures and distributes building products for the renewable energy, conservation, residential, and infrastructure markets in North America and Asia. It operates through three segments: Renewable Energy and Conservation, Residential Products, and Infrastructure Products.
Featured Article: What is the CBOE Russell 2000® Volatility Index?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What is the price-sales ratio?
Like any group of stocks related to travel and tourism, hotel stocks saw a steep drop in share prices in 2020. The leisure and hospitality sector that once had 15 million employees has lost 4 million jobs since February.
Many major cities will be feeling the ripple effects of the Covid-19 pandemic for years. However, there is ample evidence that shows the pandemic may be coming to an end. The number of new cases is dropping. The number of those getting vaccinated is rising. And even in the cities with the most restrictive mitigation measures, the slow process of reopening is beginning.
All of this can’t come fast enough for individuals who rely on the travel and tourism industry for their livelihood. Hotel chains had at least some revenue coming in the door. And when earnings season concludes, the more budget-friendly hotel chains may realize revenue that is 75% of its 2019 numbers. But that is not enough to bring the hotels to anywhere near full employment. Particularly with hotels that have bars and restaurants that have remained closed or open at limited capacity.
Many economists are optimistic that travel may begin to look more normal by the summer of this year. And the global economy may deliver 6.4% GDP growth this year. With that in mind, the hotel chains with the best fundamentals and the broadest footprint will be in the best position as the economy reopens.