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

Thermon Group (NYSE:THRGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of $1.07-$1.19 for the period. The company issued revenue guidance of $380.00 million-$405.00 million, compared to the consensus revenue estimate of $364.19 million.

Thermon Group Trading Up 3.5 %

THR traded up $0.55 during midday trading on Thursday, reaching $16.39. 98,037 shares of the company’s stock traded hands, compared to its average volume of 102,580. The stock has a market capitalization of $548.54 million, a price-to-earnings ratio of 25.14 and a beta of 1.34. The firm has a fifty day moving average of $15.04 and a two-hundred day moving average of $16.07. Thermon Group has a 52 week low of $13.26 and a 52 week high of $20.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.02 and a quick ratio of 2.13.

Thermon Group (NYSE:THRGet Rating) last announced its earnings results on Thursday, May 26th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $102.58 million for the quarter, compared to analysts’ expectations of $93.12 million. Thermon Group had a net margin of 5.99% and a return on equity of 7.51%. During the same quarter in the previous year, the business posted $0.03 EPS. On average, equities analysts anticipate that Thermon Group will post 1.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on THR. TheStreet downgraded shares of Thermon Group from a b- rating to a c rating in a research note on Monday, June 6th. StockNews.com upgraded shares of Thermon Group from a buy rating to a strong-buy rating in a research note on Wednesday, June 15th.

Insider Buying and Selling at Thermon Group

In other Thermon Group news, Director John T. Nesser III purchased 3,500 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were bought at an average cost of $16.35 per share, for a total transaction of $57,225.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $817,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Bruce Thames bought 3,150 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The shares were purchased at an average cost of $15.49 per share, for a total transaction of $48,793.50. Following the completion of the purchase, the chief executive officer now owns 209,267 shares of the company’s stock, valued at $3,241,545.83. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John T. Nesser III bought 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The shares were purchased at an average price of $16.35 per share, for a total transaction of $57,225.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $817,500. The disclosure for this purchase can be found here. Insiders bought a total of 11,867 shares of company stock valued at $186,906 in the last three months. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Thermon Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Thermon Group by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,445,440 shares of the technology company’s stock worth $23,417,000 after purchasing an additional 30,190 shares during the period. PDT Partners LLC acquired a new stake in shares of Thermon Group during the first quarter worth $369,000. State Street Corp raised its position in Thermon Group by 2.9% in the first quarter. State Street Corp now owns 661,166 shares of the technology company’s stock worth $10,711,000 after acquiring an additional 18,799 shares in the last quarter. Engineers Gate Manager LP raised its position in Thermon Group by 45.1% in the first quarter. Engineers Gate Manager LP now owns 47,141 shares of the technology company’s stock worth $764,000 after acquiring an additional 14,656 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Thermon Group by 8.7% in the first quarter. Goldman Sachs Group Inc. now owns 183,529 shares of the technology company’s stock worth $2,973,000 after acquiring an additional 14,649 shares in the last quarter. 93.81% of the stock is owned by institutional investors and hedge funds.

About Thermon Group

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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, tubing bundles, and system accessories, as well as strip, tubular, immersion, and process heaters; and gas heating products, including enclosure and explosion proof gas catalytic heaters, gas fired blowers, and gas 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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