Gibraltar Industries (NASDAQ:ROCK) Issues FY 2024 Earnings Guidance

Gibraltar Industries (NASDAQ:ROCK) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 4.570-4.820 for the period, compared to the consensus EPS estimate of 4.680. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Gibraltar Industries also updated its FY24 guidance to $4.57-4.82 EPS.

Gibraltar Industries Stock Down 2.2 %

Shares of NASDAQ:ROCK traded down $1.54 during trading on Wednesday, hitting $69.92. 54,149 shares of the company traded hands, compared to its average volume of 171,219. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 19.91 and a beta of 1.17. The business’s fifty day moving average is $76.25 and its 200-day moving average is $74.79. Gibraltar Industries has a one year low of $48.76 and a one year high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Wednesday, February 21st. The construction company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $328.80 million for the quarter, compared to the consensus estimate of $331.40 million. Gibraltar Industries had a net margin of 8.02% and a return on equity of 14.50%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. On average, analysts forecast that Gibraltar Industries will post 4.73 EPS for the current year.

Analysts Set New Price Targets

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

About Gibraltar Industries

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.