Seaport Res Ptn Brokers Boost Earnings Estimates for Gibraltar Industries, Inc. (NASDAQ:ROCK)

Gibraltar Industries, Inc. (NASDAQ:ROCK) – Investment analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of Gibraltar Industries in a report issued on Thursday, May 2nd. Seaport Res Ptn analyst W. Liptak now forecasts that the construction company will post earnings per share of $4.79 for the year, up from their previous estimate of $4.73. The consensus estimate for Gibraltar Industries’ current full-year earnings is $4.79 per share. Seaport Res Ptn also issued estimates for Gibraltar Industries’ Q4 2024 earnings at $1.17 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $1.44 EPS, Q3 2025 earnings at $1.74 EPS, Q4 2025 earnings at $1.31 EPS and FY2025 earnings at $5.41 EPS.

Separately, StockNews.com raised Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th.

Gibraltar Industries Price Performance

Gibraltar Industries stock opened at $71.69 on Monday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.27 and a beta of 1.20. Gibraltar Industries has a 1-year low of $51.36 and a 1-year high of $87.40. The business has a fifty day moving average price of $75.76 and a 200-day moving average price of $74.91.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Wednesday, May 1st. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. The business had revenue of $292.51 million for the quarter, compared to analysts’ expectations of $296.29 million. Gibraltar Industries had a return on equity of 14.39% and a net margin of 8.31%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS.

Hedge Funds Weigh In On Gibraltar Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROCK. New York State Teachers Retirement System raised its stake in Gibraltar Industries by 2.0% in the 3rd quarter. New York State Teachers Retirement System now owns 59,851 shares of the construction company’s stock worth $4,041,000 after acquiring an additional 1,179 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Gibraltar Industries by 15.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,618 shares of the construction company’s stock worth $514,000 after acquiring an additional 1,046 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Gibraltar Industries by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 305,038 shares of the construction company’s stock worth $20,593,000 after acquiring an additional 25,358 shares during the last quarter. Advisor Partners II LLC purchased a new position in Gibraltar Industries in the 3rd quarter worth $204,000. Finally, Park Avenue Securities LLC purchased a new position in Gibraltar Industries in the 3rd quarter worth $301,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Company Profile

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. 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 for commercial and distributed generation scale solar installations.