Analysts Expect Gibraltar Industries Inc (ROCK) Will Announce Quarterly Sales of $223.00 Million

Wall Street analysts forecast that Gibraltar Industries Inc (NASDAQ:ROCK) will announce sales of $223.00 million for the current quarter, Zacks reports. Two analysts have provided estimates for Gibraltar Industries’ earnings. Gibraltar Industries posted sales of $215.34 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.6%. The company is expected to report its next quarterly earnings results on Friday, May 3rd.

According to Zacks, analysts expect that Gibraltar Industries will report full-year sales of $1.05 billion for the current financial year. For the next year, analysts forecast that the firm will post sales of $1.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Gibraltar Industries.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Thursday, February 21st. The construction company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.07. Gibraltar Industries had a return on equity of 12.23% and a net margin of 6.37%. The firm had revenue of $240.91 million during the quarter, compared to analysts’ expectations of $244.45 million. During the same period last year, the firm posted $0.41 EPS. The business’s revenue was down 6.7% on a year-over-year basis.

ROCK has been the topic of a number of recent research reports. Zacks Investment Research upgraded Gibraltar Industries from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday, January 2nd. BidaskClub upgraded Gibraltar Industries from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Sidoti initiated coverage on Gibraltar Industries in a research report on Tuesday, January 8th. They issued a “neutral” rating and a $40.00 price objective on the stock. Finally, ValuEngine upgraded Gibraltar Industries from a “sell” rating to a “hold” rating in a research report on Friday, December 21st.

A number of institutional investors and hedge funds have recently made changes to their positions in ROCK. PNC Financial Services Group Inc. boosted its position in Gibraltar Industries by 99.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,849 shares of the construction company’s stock valued at $173,000 after buying an additional 2,418 shares during the last quarter. Whittier Trust Co. bought a new position in Gibraltar Industries in the 4th quarter valued at $187,000. Laurion Capital Management LP bought a new position in Gibraltar Industries in the 3rd quarter valued at $201,000. Ibex Investors LLC bought a new position in Gibraltar Industries in the 3rd quarter valued at $201,000. Finally, Amalgamated Bank bought a new position in shares of Gibraltar Industries in the 3rd quarter worth $211,000.

ROCK stock traded up $0.19 during midday trading on Friday, reaching $40.61. 164,924 shares of the company’s stock traded hands, compared to its average volume of 144,448. Gibraltar Industries has a 1-year low of $31.96 and a 1-year high of $49.10. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 18.98 and a beta of 1.53.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and distributes building products in North America and Asia. It operates through three segments: Residential Products, Industrial and Infrastructure Products, and Renewable Energy and Conservation. The Residential Products segment offers roof and foundation ventilation products and accessories, such as solar powered units; mail and electronic package solutions, including single mailboxes, cluster style mail and parcel boxes for single and multi-family housing, and electronic package locker systems; roof edgings and flashings; soffits and trims; drywall corner beads; metal roofing products and accessories; rain dispersion products comprising gutters and accessories; and exterior retractable awnings.

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