Thermon Group (NYSE:THR) Updates FY 2023 Earnings Guidance

Thermon Group (NYSE:THRGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $0.74-$0.89 for the period, compared to the consensus earnings per share estimate of $1.23. The company issued revenue guidance of $350.00 million-$380.00 million, compared to the consensus revenue estimate of $365.26 million.

Several research firms recently weighed in on THR. TheStreet upgraded Thermon Group from a c rating to a b rating in a report on Friday, February 4th. StockNews.com lowered Thermon Group from a strong-buy rating to a buy rating in a report on Thursday, May 26th. Finally, Zacks Investment Research lowered Thermon Group from a buy rating to a hold rating in a research note on Wednesday, April 6th.

Shares of NYSE THR opened at $15.40 on Thursday. The business has a fifty day simple moving average of $15.66 and a 200 day simple moving average of $16.82. The company has a current ratio of 3.02, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $513.90 million, a price-to-earnings ratio of 24.44 and a beta of 1.34. Thermon Group has a one year low of $14.12 and a one year high of $20.35.

Thermon Group (NYSE:THRGet Rating) last announced its quarterly earnings results on Wednesday, May 25th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Thermon Group had a return on equity of 7.51% and a net margin of 5.99%. During the same period in the previous year, the business earned $0.03 EPS. On average, research analysts anticipate that Thermon Group will post 0.81 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Great West Life Assurance Co. Can grew its holdings in shares of Thermon Group by 134.3% during the first quarter. Great West Life Assurance Co. Can now owns 2,324 shares of the technology company’s stock worth $40,000 after purchasing an additional 1,332 shares during the last quarter. Lazard Asset Management LLC bought a new position in Thermon Group in the first quarter valued at about $45,000. Royal Bank of Canada lifted its stake in Thermon Group by 69.3% in the third quarter. Royal Bank of Canada now owns 4,116 shares of the technology company’s stock valued at $72,000 after buying an additional 1,685 shares during the period. Marshall Wace LLP acquired a new position in Thermon Group in the fourth quarter valued at about $109,000. Finally, Citigroup Inc. lifted its stake in Thermon Group by 105.0% in the fourth quarter. Citigroup Inc. now owns 9,100 shares of the technology company’s stock valued at $154,000 after buying an additional 4,662 shares during the period. Institutional investors own 93.81% of the company’s stock.

Thermon Group Company Profile (Get Rating)

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries worldwide. Its products include electric heating products, such as air heaters and heating accessories, boilers and calorifiers, controlling and monitoring solutions, heat tracing systems, tank heating systems, thermostats, and system accessories, as well as band, strip, tubular, immersion, and process heaters; and gas heating products, including enclosure and explosion proof gas catalytic heaters, gas fired blowers, and has heating accessories that comprise regulators, valves, mounting brackets, and battery cables.

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Earnings History and Estimates for Thermon Group (NYSE:THR)

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