FGI Industries (NASDAQ:FGI) Posts Quarterly Earnings Results

FGI Industries (NASDAQ:FGI) posted its quarterly earnings results on Thursday. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.33), FiscalAI reports. FGI Industries had a positive return on equity of 10.02% and a negative net margin of 3.07%. The company had revenue of $31.69 million for the quarter, compared to analyst estimates of $37.41 million.

FGI Industries Price Performance

FGI stock traded up $0.49 during midday trading on Thursday, reaching $8.42. 30,421 shares of the company were exchanged, compared to its average volume of 11,279. The business has a 50-day moving average price of $7.85 and a two-hundred day moving average price of $6.06. FGI Industries has a one year low of $3.14 and a one year high of $19.93. The firm has a market capitalization of $16.25 million, a price-to-earnings ratio of 9.55 and a beta of 2.26.

Analysts Set New Price Targets

Several research firms recently weighed in on FGI. Wall Street Zen raised shares of FGI Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a report on Monday, September 21st. UBS Group set a $13.00 price target on shares of FGI Industries in a research report on Friday, August 14th. Finally, Benchmark reaffirmed a “speculative buy” rating and set a $13.00 price target (up from $8.00) on shares of FGI Industries in a research report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, FGI Industries currently has a consensus rating of “Hold” and a consensus price target of $13.00.

About FGI Industries

FGI Industries Ltd. is a global manufacturer and distributor of bathroom and kitchen products. The company supplies products for residential, hospitality, commercial and multifamily construction applications through retail, wholesale and e-commerce channels. Its product portfolio includes bathroom vanities and furniture, bathtubs, shower systems and enclosures, toilets, sinks, faucets, mirrors and related accessories. FGI markets products under brands that include Foremost, Jetcoat and Bootz, serving customers across North America and other international markets.