Brokers Set Expectations for Gibraltar Industries, Inc.’s Q3 2024 Earnings (NASDAQ:ROCK)

by · The Markets Daily

Gibraltar Industries, Inc. (NASDAQ:ROCK – Free Report) – Stock analysts at Seaport Res Ptn cut their Q3 2024 earnings estimates for shares of Gibraltar Industries in a report released on Monday, October 14th. Seaport Res Ptn analyst W. Liptak now forecasts that the construction company will post earnings of $1.26 per share for the quarter, down from their previous forecast of $1.39. The consensus estimate for Gibraltar Industries’ current full-year earnings is $4.60 per share. Seaport Res Ptn also issued estimates for Gibraltar Industries’ FY2024 earnings at $4.18 EPS, Q1 2025 earnings at $0.94 EPS, Q3 2025 earnings at $1.46 EPS and FY2025 earnings at $4.86 EPS.

Separately, StockNews.com raised shares of Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a report on Monday.

Check Out Our Latest Report on Gibraltar Industries

Gibraltar Industries Stock Up 1.7 %

NASDAQ ROCK opened at $68.27 on Tuesday. The company has a market capitalization of $2.08 billion, a P/E ratio of 18.35 and a beta of 1.14. Gibraltar Industries has a 12-month low of $59.66 and a 12-month high of $87.40. The firm has a 50-day moving average price of $68.08 and a two-hundred day moving average price of $71.26.

Gibraltar Industries (NASDAQ:ROCK – Get Free Report) last announced its earnings results on Wednesday, July 31st. The construction company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.08). The company had revenue of $353.00 million for the quarter, compared to the consensus estimate of $373.60 million. Gibraltar Industries had a return on equity of 13.91% and a net margin of 8.49%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 EPS.

Hedge Funds Weigh In On Gibraltar Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROCK. Vanguard Group Inc. increased its position in Gibraltar Industries by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,819,914 shares of the construction company’s stock valued at $222,717,000 after acquiring an additional 60,950 shares during the period. HighPoint Advisor Group LLC bought a new position in Gibraltar Industries during the fourth quarter worth $219,000. Contravisory Investment Management Inc. boosted its stake in Gibraltar Industries by 1,755.2% during the first quarter. Contravisory Investment Management Inc. now owns 3,228 shares of the construction company’s stock worth $260,000 after acquiring an additional 3,054 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Gibraltar Industries by 49.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,099 shares of the construction company’s stock worth $974,000 after acquiring an additional 4,008 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Gibraltar Industries by 1.5% during the first quarter. Principal Financial Group Inc. now owns 168,582 shares of the construction company’s stock worth $13,576,000 after acquiring an additional 2,526 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

About Gibraltar Industries

(Get Free Report)

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. 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 for commercial and distributed generation scale solar installations.

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