These Analysts Cut Their Forecasts On GMS Following Q4 Results
Portfolio Pulse from Avi Kapoor
GMS Inc (NYSE:GMS) reported mixed Q4 fiscal 2024 results, with net sales beating expectations but adjusted EPS missing estimates. Gross profit rose, but margins contracted. Analysts from Baird and Truist Securities lowered their price targets on GMS following the results.
June 21, 2024 | 1:24 pm
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GMS Inc reported mixed Q4 results with net sales of $1.413 billion beating expectations but adjusted EPS of $1.93 missing estimates. Gross profit rose, but margins contracted. Analysts from Baird and Truist Securities lowered their price targets on GMS.
The mixed financial results, particularly the miss on adjusted EPS and contraction in margins, have led analysts to lower their price targets. This is likely to put downward pressure on GMS's stock price in the short term.
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