Published On: Fri, Sep 16th, 2016

SunTrust Banks Weighs in on GMS Inc’s Q2 2017 Earnings (GMS)

GMS Inc (NYSE:GMS) – SunTrust Banks lifted their Q2 2017 EPS estimates for shares of GMS in a report issued on Tuesday. SunTrust Banks analyst K. Hughes now expects that the firm will post earnings of $0.55 per share for the quarter, up from their prior estimate of $0.45. SunTrust Banks currently has a “Buy” rating and a $28.00 target price on the stock. SunTrust Banks also issued estimates for GMS’s Q3 2017 earnings at $0.32 EPS, Q4 2017 earnings at $0.45 EPS, FY2017 earnings at $1.77 EPS, Q1 2018 earnings at $0.61 EPS, Q2 2018 earnings at $0.65 EPS, Q3 2018 earnings at $0.40 EPS and FY2018 earnings at $2.26 EPS.
GMS has been the topic of a number of other reports. Stephens initiated coverage on GMS in a report on Monday, June 20th. They issued an “overweight” rating on the stock. Credit Suisse Group AG restated a “buy” rating on shares of GMS in a report on Tuesday, June 28th. Royal Bank Of Canada raised their price objective on GMS from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, July 13th. Robert W. Baird initiated coverage on GMS in a report on Monday, June 20th. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, Raymond James Financial Inc. initiated coverage on GMS in a report on Monday, June 20th. They issued an “outperform” rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $26.00.
Shares of GMS (NYSE:GMS) traded down 0.58% during trading on Friday, reaching $22.33. The company had a trading volume of 67,471 shares. GMS has a 52-week low of $19.28 and a 52-week high of $26.42. The firm has a 50-day moving average price of $23.77 and a 200-day moving average price of $23.35. The company has a market capitalization of $914.23 million and a P/E ratio of 40.82.

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GMS (NYSE:GMS) last announced its quarterly earnings results on Tuesday, September 13th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. The business earned $549.80 million during the quarter. GMS’s quarterly revenue was up 21.5% compared to the same quarter last year.
Several large investors have recently made changes to their positions in GMS. Nationwide Fund Advisors bought a new stake in shares of GMS during the second quarter valued at approximately $102,000. Nomura Holdings Inc. acquired a new stake in GMS during the second quarter valued at about $249,000. Schwab Charles Investment Management Inc. acquired a new stake in GMS during the second quarter valued at about $256,000. Bank of New York Mellon Corp acquired a new stake in GMS during the second quarter valued at about $304,000. Finally, California State Teachers Retirement System acquired a new stake in GMS during the second quarter valued at about $332,000.
GMS Company Profile
GMS Inc is a distributor of wallboard and suspended ceilings systems. The Company’s seven segments include Central, Northeast, Southern, Southeast, Southwest and Western, Tool Source Warehouse, Inc and other. It offers wallboard, which is used in building products for interior and exterior walls, and ceilings in residential and commercial structures.

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