Gibraltar Industries (NASDAQ:ROCK) Updates FY 2022 Earnings Guidance

Gibraltar Industries (NASDAQ:ROCK – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.20-$3.40 for the period, compared to the consensus earnings per share estimate of $3.28. The company issued revenue guidance of $1.38 billion-$1.43 billion, compared to the consensus revenue estimate of $1.42 billion.

Shares of ROCK opened at $38.47 on Wednesday. The firm has a market capitalization of $1.26 billion, a PE ratio of 16.23 and a beta of 1.08. The company has a quick ratio of 0.94, a current ratio of 1.69 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $43.51 and a 200 day moving average price of $56.90. Gibraltar Industries has a 52-week low of $37.57 and a 52-week high of $81.58.

Gibraltar Industries (NASDAQ:ROCK – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The construction company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. Gibraltar Industries had a net margin of 5.72% and a return on equity of 11.55%. The company had revenue of $317.90 million during the quarter, compared to analyst estimates of $307.88 million. During the same period in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts expect that Gibraltar Industries will post 3.27 EPS for the current year.

ROCK has been the topic of a number of research reports. KeyCorp dropped their price objective on Gibraltar Industries from $85.00 to $60.00 and set an overweight rating on the stock in a research note on Tuesday, March 1st. Zacks Investment Research upgraded shares of Gibraltar Industries from a sell rating to a hold rating and set a $44.00 price target on the stock in a research report on Tuesday. StockNews.com started coverage on shares of Gibraltar Industries in a report on Thursday, March 31st. They set a hold rating for the company. Finally, TheStreet lowered Gibraltar Industries from a b- rating to a c+ rating in a research report on Tuesday, February 8th.

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new position in shares of Gibraltar Industries during the 3rd quarter worth $229,000. Squarepoint Ops LLC raised its holdings in Gibraltar Industries by 29.4% during the fourth quarter. Squarepoint Ops LLC now owns 10,017 shares of the construction company’s stock valued at $668,000 after buying an additional 2,273 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Gibraltar Industries by 4.4% in the fourth quarter. Deutsche Bank AG now owns 21,679 shares of the construction company’s stock worth $1,446,000 after buying an additional 911 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Gibraltar Industries during the fourth quarter valued at approximately $1,687,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Gibraltar Industries by 0.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 26,595 shares of the construction company’s stock valued at $1,773,000 after purchasing an additional 215 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

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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