Gibraltar Industries (NASDAQ:ROCK) Updates FY24 Earnings Guidance

Gibraltar Industries (NASDAQ:ROCK) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.11-4.25 for the period, compared to the consensus estimate of $4.15. The company issued revenue guidance of $1.31-1.33 billion, compared to the consensus revenue estimate of $1.32 billion.

Gibraltar Industries Stock Performance

Shares of Gibraltar Industries stock traded down $0.54 during midday trading on Friday, hitting $66.95. The company had a trading volume of 278,280 shares, compared to its average volume of 176,408. Gibraltar Industries has a 52-week low of $61.92 and a 52-week high of $87.40. The stock has a market capitalization of $2.04 billion, a P/E ratio of 18.60 and a beta of 1.14. The company has a 50 day moving average of $68.37 and a 200 day moving average of $70.29.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.01. The firm had revenue of $361.20 million during the quarter, compared to the consensus estimate of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The company’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the company earned $1.38 earnings per share. Equities research analysts forecast that Gibraltar Industries will post 4.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd.

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.