$300.70 Million in Sales Expected for Gibraltar Industries, Inc. (NASDAQ:ROCK) This Quarter

Brokerages expect that Gibraltar Industries, Inc. (NASDAQ:ROCKGet Rating) will post $300.70 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Gibraltar Industries’ earnings, with estimates ranging from $298.60 million to $302.80 million. Gibraltar Industries posted sales of $287.59 million in the same quarter last year, which suggests a positive year over year growth rate of 4.6%. The company is expected to issue its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Gibraltar Industries will report full-year sales of $1.42 billion for the current financial year, with estimates ranging from $1.41 billion to $1.42 billion. For the next financial year, analysts expect that the company will post sales of $1.50 billion, with estimates ranging from $1.49 billion to $1.50 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Gibraltar Industries.

Gibraltar Industries (NASDAQ:ROCKGet Rating) last issued its quarterly earnings data on Wednesday, February 23rd. The construction company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.24). The business had revenue of $334.40 million for the quarter, compared to the consensus estimate of $333.00 million. Gibraltar Industries had a net margin of 5.64% and a return on equity of 11.55%. Gibraltar Industries’s revenue was up 26.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 EPS.

Several brokerages have commented on ROCK. StockNews.com began coverage on Gibraltar Industries in a report on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet downgraded Gibraltar Industries from a “b-” rating to a “c+” rating in a report on Tuesday, February 8th. Zacks Investment Research downgraded Gibraltar Industries from a “hold” rating to a “strong sell” rating and set a $41.00 price target on the stock. in a report on Thursday, March 3rd. Finally, KeyCorp lowered their price target on Gibraltar Industries from $85.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, March 1st.

A number of hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new position in shares of Gibraltar Industries during the fourth quarter valued at $26,000. Baystate Wealth Management LLC raised its holdings in shares of Gibraltar Industries by 167.0% in the fourth quarter. Baystate Wealth Management LLC now owns 510 shares of the construction company’s stock valued at $34,000 after buying an additional 319 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Gibraltar Industries by 1,286.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 513 shares of the construction company’s stock valued at $34,000 after buying an additional 476 shares during the last quarter. CWM LLC bought a new position in shares of Gibraltar Industries in the fourth quarter valued at about $37,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Gibraltar Industries in the fourth quarter valued at about $216,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

Shares of ROCK stock opened at $38.73 on Wednesday. Gibraltar Industries has a 12 month low of $38.35 and a 12 month high of $96.33. The company has a quick ratio of 0.94, a current ratio of 1.56 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $45.46 and its two-hundred day moving average is $59.42. The company has a market cap of $1.27 billion, a PE ratio of 16.91 and a beta of 1.07.

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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