Thermon Group Holdings (THR) Expected to Announce Quarterly Sales of $97.08 Million

Wall Street brokerages expect that Thermon Group Holdings (NYSE:THR) will report sales of $97.08 million for the current quarter, Zacks reports. Two analysts have made estimates for Thermon Group’s earnings, with the highest sales estimate coming in at $98.20 million and the lowest estimate coming in at $95.97 million. Thermon Group reported sales of $67.58 million in the same quarter last year, which would suggest a positive year over year growth rate of 43.7%. The company is expected to report its next earnings results on Wednesday, May 23rd.

On average, analysts expect that Thermon Group will report full year sales of $303.10 million for the current year, with estimates ranging from $301.99 million to $304.20 million. For the next financial year, analysts forecast that the company will report sales of $375.39 million per share, with estimates ranging from $374.47 million to $376.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Thermon Group.

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Thermon Group (NYSE:THR) last posted its earnings results on Thursday, February 8th. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $92.70 million during the quarter, compared to the consensus estimate of $80.42 million. Thermon Group had a net margin of 3.33% and a return on equity of 5.16%. The firm’s revenue for the quarter was up 44.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share.

Several equities research analysts have recently commented on THR shares. Zacks Investment Research raised shares of Thermon Group from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, February 14th. ValuEngine raised shares of Thermon Group from a “hold” rating to a “buy” rating in a research report on Thursday. TheStreet downgraded shares of Thermon Group from a “b-” rating to a “c” rating in a research report on Friday, February 9th. Finally, BMO Capital Markets boosted their target price on shares of Thermon Group to $31.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.50.

Shares of NYSE:THR traded up $0.25 during midday trading on Friday, hitting $24.47. 4,292 shares of the company’s stock were exchanged, compared to its average volume of 114,016. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.27 and a quick ratio of 3.04. The company has a market cap of $786.29, a PE ratio of 48.44 and a beta of 0.90. Thermon Group has a 12 month low of $15.74 and a 12 month high of $26.50.

A number of institutional investors have recently added to or reduced their stakes in THR. MetLife Investment Advisors LLC purchased a new stake in shares of Thermon Group in the 4th quarter worth about $375,000. Millennium Management LLC bought a new position in shares of Thermon Group in the 4th quarter worth about $1,307,000. TIAA CREF Investment Management LLC increased its stake in shares of Thermon Group by 134.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 208,027 shares of the technology company’s stock worth $4,924,000 after acquiring an additional 119,194 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Thermon Group by 41.0% in the 4th quarter. Teachers Advisors LLC now owns 89,022 shares of the technology company’s stock worth $2,107,000 after acquiring an additional 25,869 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of Thermon Group by 10.4% in the 4th quarter. Raymond James & Associates now owns 26,958 shares of the technology company’s stock worth $638,000 after acquiring an additional 2,542 shares in the last quarter.

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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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Earnings History and Estimates for Thermon Group (NYSE:THR)

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