In its upcoming report, GMS (GMS) is predicted by Wall Street analysts to post quarterly earnings of $1.15 per share, reflecting a decline of 40.4% compared to the same period last year. Revenues are forecasted to be $1.3 billion, representing a year-over-year decrease of 8.2%.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific GMS metrics that are commonly monitored and projected by Wall Street analysts.
Analysts predict that the 'Organic net sales - Wallboard' will reach -15.3%. The estimate is in contrast to the year-ago figure of 6%.
Based on the collective assessment of analysts, 'Organic net sales - Ceilings' should arrive at -0.9%. The estimate is in contrast to the year-ago figure of 11.4%.
According to the collective judgment of analysts, 'Organic net sales - Other product/Complementary products' should come in at -4.1%. Compared to the present estimate, the company reported 3.5% in the same quarter last year.
View all Key Company Metrics for GMS here>>>
Shares of GMS have experienced a change of +2.7% in the past month compared to the +3.6% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), GMS is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
GMS Inc. (GMS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
