William Blair Weighs in on Thermon Group Holdings, Inc.’s Q3 2023 Earnings (NYSE:THR)

Thermon Group Holdings, Inc. (NYSE:THRGet Rating) – Research analysts at William Blair lowered their Q3 2023 earnings estimates for shares of Thermon Group in a report released on Tuesday, May 31st. William Blair analyst B. Drab now anticipates that the technology company will post earnings per share of $0.37 for the quarter, down from their previous forecast of $0.43. William Blair also issued estimates for Thermon Group’s Q4 2023 earnings at $0.31 EPS, Q1 2024 earnings at $0.09 EPS, Q2 2024 earnings at $0.22 EPS, Q3 2024 earnings at $0.38 EPS, Q4 2024 earnings at $0.34 EPS, FY2024 earnings at $1.03 EPS and FY2025 earnings at $1.19 EPS.

Thermon Group (NYSE:THRGet Rating) last posted its quarterly earnings results on Wednesday, May 25th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Thermon Group had a return on equity of 7.51% and a net margin of 5.99%. During the same period in the previous year, the firm earned $0.03 EPS.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 26th. Zacks Investment Research downgraded Thermon Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 6th. Finally, TheStreet upgraded Thermon Group from a “c” rating to a “b” rating in a research report on Friday, February 4th.

NYSE THR opened at $15.40 on Thursday. The company has a quick ratio of 2.13, a current ratio of 3.02 and a debt-to-equity ratio of 0.30. Thermon Group has a 52-week low of $14.12 and a 52-week high of $20.35. The business’s 50-day moving average price is $15.66 and its 200 day moving average price is $16.82. The firm has a market cap of $513.90 million, a P/E ratio of 24.44 and a beta of 1.34.

A number of institutional investors have recently made changes to their positions in THR. Great West Life Assurance Co. Can lifted its holdings in Thermon Group by 134.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,324 shares of the technology company’s stock worth $40,000 after buying an additional 1,332 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Thermon Group in the 1st quarter worth $45,000. Lindbrook Capital LLC acquired a new position in Thermon Group in the 4th quarter worth $63,000. Royal Bank of Canada lifted its holdings in Thermon Group by 69.3% in the 3rd quarter. Royal Bank of Canada now owns 4,116 shares of the technology company’s stock worth $72,000 after buying an additional 1,685 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Thermon Group by 112.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,200 shares of the technology company’s stock worth $100,000 after buying an additional 3,286 shares in the last quarter. 93.81% of the stock is owned by hedge funds and other institutional investors.

About Thermon Group (Get Rating)

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries worldwide. Its products include electric heating products, such as air heaters and heating accessories, boilers and calorifiers, controlling and monitoring solutions, heat tracing systems, tank heating systems, thermostats, and system accessories, as well as band, strip, tubular, immersion, and process heaters; and gas heating products, including enclosure and explosion proof gas catalytic heaters, gas fired blowers, and has heating accessories that comprise regulators, valves, mounting brackets, and battery cables.

Further Reading

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

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