Gibraltar Industries (NASDAQ:ROCK) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) issued its quarterly earnings results on Wednesday. The construction company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.01, RTT News reports. Gibraltar Industries had a return on equity of 13.91% and a net margin of 8.49%. The firm had revenue of $361.20 million for the quarter, compared to analysts' expectations of $360.43 million. During the same period in the previous year, the firm posted $1.38 EPS. The business's revenue for the quarter was down 7.6% compared to the same quarter last year. Gibraltar Industries updated its FY24 guidance to $4.11-4.25 EPS.

Gibraltar Industries Stock Up 4.7 %

Shares of NASDAQ ROCK traded up $3.03 during midday trading on Wednesday, hitting $68.03. The stock had a trading volume of 216,596 shares, compared to its average volume of 175,454. The business's 50 day moving average is $68.38 and its 200-day moving average is $70.35. Gibraltar Industries has a 52 week low of $59.95 and a 52 week high of $87.40. The company has a market cap of $2.07 billion, a P/E ratio of 18.05 and a beta of 1.14.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded 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.