Gibraltar Industries (NASDAQ:ROCK) Updates FY 2022 Earnings Guidance

Gibraltar Industries (NASDAQ:ROCKGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.20-$3.40 for the period, compared to the consensus earnings per share estimate of $3.28. The company issued revenue guidance of $1.38 billion-$1.43 billion, compared to the consensus revenue estimate of $1.42 billion.

Several research firms have weighed in on ROCK. StockNews.com began coverage on Gibraltar Industries in a report on Thursday, March 31st. They set a hold rating on the stock. Zacks Investment Research upgraded Gibraltar Industries from a sell rating to a hold rating and set a $44.00 price objective on the stock in a research note on Tuesday. TheStreet lowered Gibraltar Industries from a b- rating to a c+ rating in a research note on Tuesday, February 8th. Finally, KeyCorp dropped their price objective on Gibraltar Industries from $85.00 to $60.00 and set an overweight rating on the stock in a research note on Tuesday, March 1st.

Gibraltar Industries stock opened at $38.57 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.69. The business’s 50-day simple moving average is $42.93 and its 200-day simple moving average is $56.19. The firm has a market capitalization of $1.26 billion, a PE ratio of 16.27 and a beta of 1.08. Gibraltar Industries has a 52 week low of $36.86 and a 52 week high of $81.58.

Gibraltar Industries (NASDAQ:ROCKGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.15. Gibraltar Industries had a return on equity of 11.55% and a net margin of 5.72%. The firm had revenue of $317.90 million for the quarter, compared to analyst estimates of $307.88 million. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts forecast that Gibraltar Industries will post 3.3 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC acquired a new stake in Gibraltar Industries during the first quarter valued at approximately $67,000. US Bancorp DE boosted its holdings in Gibraltar Industries by 60.8% during the first quarter. US Bancorp DE now owns 2,160 shares of the construction company’s stock valued at $93,000 after purchasing an additional 817 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Gibraltar Industries by 23.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,199 shares of the construction company’s stock valued at $138,000 after purchasing an additional 614 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Gibraltar Industries during the third quarter valued at approximately $229,000. Finally, Sei Investments Co. boosted its holdings in Gibraltar Industries by 2.5% during the first quarter. Sei Investments Co. now owns 11,473 shares of the construction company’s stock valued at $493,000 after purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

About Gibraltar Industries (Get Rating)

Gibraltar Industries, Inc manufactures and distributes building products for the renewable energy, residential, agtech, and infrastructure markets in North America and Asia. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems.

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Earnings History and Estimates for Gibraltar Industries (NASDAQ:ROCK)

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