$101.58 Million in Sales Expected for Thermon Group Holdings Inc (THR) This Quarter

Wall Street brokerages forecast that Thermon Group Holdings Inc (NYSE:THR) will post $101.58 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Thermon Group’s earnings. The lowest sales estimate is $101.56 million and the highest is $101.60 million. Thermon Group posted sales of $102.58 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1%. The firm is scheduled to report its next quarterly earnings results on Thursday, April 4th.

According to Zacks, analysts expect that Thermon Group will report full-year sales of $399.99 million for the current year, with estimates ranging from $399.97 million to $400.00 million. For the next financial year, analysts forecast that the firm will post sales of $409.62 million, with estimates ranging from $408.10 million to $411.14 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Thermon Group.

Thermon Group (NYSE:THR) last released its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $119.36 million for the quarter, compared to analyst estimates of $100.28 million. Thermon Group had a net margin of 5.50% and a return on equity of 10.70%. Thermon Group’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share.

THR has been the topic of several analyst reports. TheStreet lowered shares of Thermon Group from a “b-” rating to a “c+” rating in a research note on Wednesday, December 19th. Zacks Investment Research upgraded shares of Thermon Group from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. Finally, ValuEngine upgraded shares of Thermon Group from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $28.50.

THR opened at $24.51 on Monday. The stock has a market cap of $799.08 million, a P/E ratio of 24.76 and a beta of 1.35. Thermon Group has a fifty-two week low of $18.37 and a fifty-two week high of $27.95. The company has a current ratio of 3.35, a quick ratio of 2.38 and a debt-to-equity ratio of 0.62.

Large investors have recently made changes to their positions in the business. Rehmann Capital Advisory Group increased its stake in shares of Thermon Group by 1,662.0% in the third quarter. Rehmann Capital Advisory Group now owns 2,784 shares of the technology company’s stock valued at $108,000 after purchasing an additional 2,626 shares during the period. Legal & General Group Plc boosted its holdings in shares of Thermon Group by 13.6% in the fourth quarter. Legal & General Group Plc now owns 6,040 shares of the technology company’s stock valued at $122,000 after acquiring an additional 722 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Thermon Group by 16.3% in the fourth quarter. Citigroup Inc. now owns 10,881 shares of the technology company’s stock valued at $221,000 after acquiring an additional 1,528 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Thermon Group by 416.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,018 shares of the technology company’s stock valued at $223,000 after acquiring an additional 8,886 shares in the last quarter. Finally, OLD National Bancorp IN boosted its holdings in shares of Thermon Group by 11.3% in the fourth quarter. OLD National Bancorp IN now owns 15,761 shares of the technology company’s stock valued at $320,000 after acquiring an additional 1,599 shares in the last quarter.

About Thermon Group

Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.

Further Reading: How accurate is the Rule of 72?

Get a free copy of the Zacks research report on Thermon Group (THR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Thermon Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermon Group and related companies with MarketBeat.com's FREE daily email newsletter.