Gibraltar Industries (NASDAQ:ROCK) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Gibraltar Industries (NASDAQ:ROCK) released its quarterly earnings results on Wednesday. The construction company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.04, Briefing.com reports. The firm had revenue of $292.51 million during the quarter, compared to the consensus estimate of $296.29 million. Gibraltar Industries had a net margin of 8.02% and a return on equity of 14.50%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 EPS. Gibraltar Industries updated its FY24 guidance to $4.57-4.82 EPS and its FY 2024 guidance to 4.570-4.820 EPS.

Gibraltar Industries Stock Up 2.3 %

ROCK stock traded up $1.58 during midday trading on Thursday, hitting $70.44. The company’s stock had a trading volume of 98,758 shares, compared to its average volume of 173,514. Gibraltar Industries has a 52-week low of $50.12 and a 52-week high of $87.40. The firm has a market capitalization of $2.15 billion, a P/E ratio of 19.18 and a beta of 1.20. The firm has a 50-day simple moving average of $75.87 and a 200-day simple moving average of $74.81.

Analysts Set New Price Targets

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

Gibraltar Industries Company Profile

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.