Thermon Group Holdings Inc (THR) Expected to Post Quarterly Sales of $103.54 Million

Brokerages predict that Thermon Group Holdings Inc (NYSE:THR) will report sales of $103.54 million for the current quarter, Zacks reports. Two analysts have made estimates for Thermon Group’s earnings. The highest sales estimate is $103.78 million and the lowest is $103.30 million. Thermon Group reported sales of $92.66 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The company is scheduled to announce its next earnings results on Thursday, February 14th.

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

Thermon Group (NYSE:THR) last issued its earnings results on Wednesday, January 30th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.05. The firm had revenue of $119.36 million during 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%. The business’s revenue was up 28.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share.

A number of brokerages have recently issued reports on THR. 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 raised shares of Thermon Group from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. BMO Capital Markets lowered their price objective on shares of Thermon Group from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. SunTrust Banks raised shares of Thermon Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $26.00 to $28.00 in a research note on Thursday, November 1st. Finally, ValuEngine raised shares of Thermon Group from a “hold” rating to a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Thermon Group currently has a consensus rating of “Buy” and a consensus target price of $28.50.

Shares of THR traded down $0.21 during trading hours on Thursday, reaching $24.93. 126,600 shares of the company traded hands, compared to its average volume of 110,321. The firm has a market capitalization of $819.61 million, a P/E ratio of 25.18 and a beta of 1.24. Thermon Group has a 12-month low of $18.37 and a 12-month 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.

In other Thermon Group news, CFO Jay Peterson acquired 2,000 shares of the stock in a transaction that occurred on Friday, November 30th. The stock was bought at an average cost of $22.57 per share, with a total value of $45,140.00. Following the completion of the purchase, the chief financial officer now directly owns 34,474 shares in the company, valued at $778,078.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group lifted its position in shares of Thermon Group by 1,662.0% during the third quarter. Rehmann Capital Advisory Group now owns 2,784 shares of the technology company’s stock valued at $108,000 after buying an additional 2,626 shares during the last quarter. Vanguard Group Inc boosted its position in Thermon Group by 1.9% during the third quarter. Vanguard Group Inc now owns 2,830,455 shares of the technology company’s stock valued at $72,968,000 after purchasing an additional 53,777 shares during the last quarter. Blair William & Co. IL acquired a new stake in Thermon Group during the third quarter valued at $1,105,000. California Public Employees Retirement System boosted its position in Thermon Group by 34.7% during the second quarter. California Public Employees Retirement System now owns 74,961 shares of the technology company’s stock valued at $1,714,000 after purchasing an additional 19,306 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its position in Thermon Group by 90.2% during the third quarter. GW&K Investment Management LLC now owns 193,699 shares of the technology company’s stock valued at $4,994,000 after purchasing an additional 91,850 shares during 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.

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

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