Gibraltar Industries, Inc. (NASDAQ:ROCK – Get Rating) – Stock analysts at Seaport Res Ptn cut their Q3 2023 earnings estimates for shares of Gibraltar Industries in a research note issued to investors on Tuesday, June 21st. Seaport Res Ptn analyst W. Liptak now expects that the construction company will post earnings per share of $1.11 for the quarter, down from their prior estimate of $1.18. The consensus estimate for Gibraltar Industries’ current full-year earnings is $3.30 per share. Seaport Res Ptn also issued estimates for Gibraltar Industries’ Q4 2023 earnings at $0.85 EPS and FY2023 earnings at $3.55 EPS.
Gibraltar Industries (NASDAQ:ROCK – Get Rating) last posted its earnings results on Wednesday, May 4th. The construction company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.15. The business had revenue of $317.90 million for the quarter, compared to the consensus estimate of $307.88 million. Gibraltar Industries had a net margin of 5.72% and a return on equity of 11.55%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS.
NASDAQ ROCK opened at $39.11 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.69. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 16.50 and a beta of 1.07. The company’s 50-day simple moving average is $40.88 and its two-hundred day simple moving average is $49.92. Gibraltar Industries has a one year low of $36.86 and a one year high of $79.40.
Several institutional investors have recently modified their holdings of the company. Systematic Financial Management LP boosted its stake in Gibraltar Industries by 2.3% in the 4th quarter. Systematic Financial Management LP now owns 117,610 shares of the construction company’s stock worth $7,842,000 after purchasing an additional 2,610 shares in the last quarter. Bank of America Corp DE boosted its stake in Gibraltar Industries by 61.8% in the 4th quarter. Bank of America Corp DE now owns 54,873 shares of the construction company’s stock worth $3,658,000 after purchasing an additional 20,959 shares in the last quarter. Keybank National Association OH acquired a new stake in Gibraltar Industries in the 4th quarter worth approximately $582,000. First Eagle Investment Management LLC boosted its stake in Gibraltar Industries by 101.1% in the 4th quarter. First Eagle Investment Management LLC now owns 16,506 shares of the construction company’s stock worth $1,101,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in Gibraltar Industries by 7.4% in the 4th quarter. Schroder Investment Management Group now owns 790,673 shares of the construction company’s stock worth $52,722,000 after purchasing an additional 54,414 shares in the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Linda Kristine Myers acquired 1,600 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were purchased at an average price of $38.16 per share, with a total value of $61,056.00. Following the transaction, the director now directly owns 12,683 shares in the company, valued at $483,983.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is owned by insiders.
About Gibraltar Industries (Get Rating)
Gibraltar Industries, Inc manufactures and distributes building products for the renewable energy, residential, agtech, and infrastructure markets in North America and Asia. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems.
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