Gibraltar Industries, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

The first-quarter results for Gibraltar Industries, Inc. (NASDAQ:ROCK) were released last week, making it a good time to revisit its performance. It looks like a credible result overall - although revenues of US$293m were in line with what the analysts predicted, Gibraltar Industries surprised by delivering a statutory profit of US$0.81 per share, a notable 14% above expectations. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Gibraltar Industries after the latest results.

See our latest analysis for Gibraltar Industries

Following the latest results, Gibraltar Industries' three analysts are now forecasting revenues of US$1.43b in 2024. This would be a credible 4.1% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to shoot up 22% to US$4.60. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$1.44b and earnings per share (EPS) of US$4.56 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The consensus price target rose 10% to US$93.67despite there being no meaningful change to earnings estimates. It could be that the analystsare reflecting the predictability of Gibraltar Industries' earnings by assigning a price premium. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values Gibraltar Industries at US$96.00 per share, while the most bearish prices it at US$90.00. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Gibraltar Industries' past performance and to peers in the same industry. It's pretty clear that there is an expectation that Gibraltar Industries' revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 5.5% growth on an annualised basis. This is compared to a historical growth rate of 9.7% over the past five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 5.5% annually. So it's pretty clear that, while Gibraltar Industries' revenue growth is expected to slow, it's expected to grow roughly in line with the industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. We note an upgrade to the price target, suggesting that the analysts believes the intrinsic value of the business is likely to improve over time.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Gibraltar Industries going out to 2025, and you can see them free on our platform here..

We also provide an overview of the Gibraltar Industries Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.