Wall Street analysts forecast that Thermon Group Holdings Inc (NYSE:THR) will post sales of $102.15 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Thermon Group’s earnings. The highest sales estimate is $103.30 million and the lowest is $101.00 million. Thermon Group reported sales of $92.66 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.2%. The company is expected to announce its next quarterly earnings results on Thursday, February 14th.
On average, analysts expect that Thermon Group will report full-year sales of $387.10 million for the current year, with estimates ranging from $384.69 million to $389.50 million. For the next fiscal year, analysts anticipate that the firm will report sales of $409.36 million, with estimates ranging from $403.92 million to $414.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Thermon Group.
Thermon Group (NYSE:THR) last issued its earnings results on Wednesday, October 31st. The technology company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Thermon Group had a return on equity of 10.22% and a net margin of 3.45%. The firm had revenue of $90.15 million during the quarter, compared to analysts’ expectations of $87.25 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was up 46.3% compared to the same quarter last year.
THR has been the topic of several analyst reports. SunTrust Banks raised shares of Thermon Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $26.00 to $28.00 in a research note on Thursday, November 1st. Zacks Investment Research downgraded shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. ValuEngine downgraded shares of Thermon Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, BMO Capital Markets decreased their target price on shares of Thermon Group from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Thermon Group has an average rating of “Hold” and an average target price of $28.50.
Shares of NYSE THR opened at $22.19 on Friday. The company has a current ratio of 3.62, a quick ratio of 2.40 and a debt-to-equity ratio of 0.63. Thermon Group has a 52 week low of $20.49 and a 52 week high of $27.95. The firm has a market capitalization of $704.71 million, a P/E ratio of 22.37 and a beta of 1.15.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in Thermon Group by 15.9% in the second quarter. Victory Capital Management Inc. now owns 16,837 shares of the technology company’s stock valued at $385,000 after acquiring an additional 2,309 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in Thermon Group by 1,662.0% in the third quarter. Rehmann Capital Advisory Group now owns 2,784 shares of the technology company’s stock valued at $108,000 after acquiring an additional 2,626 shares in the last quarter. Granite Investment Partners LLC boosted its holdings in Thermon Group by 11.3% in the third quarter. Granite Investment Partners LLC now owns 34,900 shares of the technology company’s stock valued at $900,000 after acquiring an additional 3,550 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Thermon Group by 2.4% in the third quarter. Wells Fargo & Company MN now owns 151,909 shares of the technology company’s stock valued at $3,917,000 after acquiring an additional 3,596 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its holdings in Thermon Group by 1.8% in the third quarter. Confluence Investment Management LLC now owns 244,251 shares of the technology company’s stock valued at $6,297,000 after acquiring an additional 4,273 shares in the last quarter.
Thermon Group Company Profile
Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.
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