Thermon Group (NYSE:THR) Releases FY 2023 Earnings Guidance

Thermon Group (NYSE:THRGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $0.74-$0.89 for the period, compared to the consensus earnings per share estimate of $1.23. The company issued revenue guidance of $350.00 million-$380.00 million, compared to the consensus revenue estimate of $365.26 million.

Several analysts have commented on the stock. Zacks Investment Research cut shares of Thermon Group from a hold rating to a strong sell rating in a research note on Saturday, June 4th. StockNews.com raised Thermon Group from a buy rating to a strong-buy rating in a research note on Friday, June 3rd. Finally, TheStreet downgraded shares of Thermon Group from a b- rating to a c rating in a research note on Monday.

THR stock opened at $16.49 on Thursday. The company has a market cap of $550.27 million, a PE ratio of 26.18 and a beta of 1.34. The company has a current ratio of 3.02, a quick ratio of 2.13 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $15.57 and a two-hundred day moving average price of $16.73. Thermon Group has a 12-month low of $14.12 and a 12-month high of $20.35.

Thermon Group (NYSE:THRGet Rating) last issued its earnings results on Wednesday, May 25th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company posted $0.03 earnings per share. Equities analysts forecast that Thermon Group will post 0.83 EPS for the current fiscal year.

In other news, Director John T. Nesser III purchased 3,637 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The shares were purchased at an average price of $15.55 per share, with a total value of $56,555.35. Following the purchase, the director now directly owns 46,500 shares of the company’s stock, valued at approximately $723,075. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Large investors have recently modified their holdings of the stock. Morgan Stanley lifted its position in shares of Thermon Group by 11,286.7% during the second quarter. Morgan Stanley now owns 103,391 shares of the technology company’s stock worth $1,762,000 after purchasing an additional 102,483 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Thermon Group by 6.5% in the 3rd quarter. Invesco Ltd. now owns 58,042 shares of the technology company’s stock valued at $1,005,000 after acquiring an additional 3,561 shares during the last quarter. Royal Bank of Canada raised its position in shares of Thermon Group by 69.3% during the 3rd quarter. Royal Bank of Canada now owns 4,116 shares of the technology company’s stock valued at $72,000 after acquiring an additional 1,685 shares in the last quarter. Millennium Management LLC bought a new position in Thermon Group during the third quarter worth $1,674,000. Finally, BNP Paribas Arbitrage SA increased its stake in Thermon Group by 64.0% during the third quarter. BNP Paribas Arbitrage SA now owns 9,484 shares of the technology company’s stock valued at $164,000 after purchasing an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 93.81% of the company’s stock.

Thermon Group Company Profile (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.

See Also

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

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