FGI Industries (NASDAQ:FGI) Releases Quarterly Earnings Results, Misses Estimates By $0.33 EPS

FGI Industries (NASDAQ:FGI) released its quarterly earnings data on Thursday. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.33), FiscalAI reports. FGI Industries had a positive return on equity of 10.02% and a negative net margin of 3.07%. The business had revenue of $31.69 million for the quarter, compared to analyst estimates of $37.41 million.

FGI Industries Stock Performance

Shares of NASDAQ:FGI traded up $0.49 during trading on Thursday, reaching $8.42. The company had a trading volume of 30,421 shares, compared to its average volume of 11,279. FGI Industries has a twelve month low of $3.14 and a twelve month high of $19.93. The firm has a market capitalization of $16.25 million, a PE ratio of 9.55 and a beta of 2.26. The firm’s fifty day moving average is $7.85 and its 200 day moving average is $6.06.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FGI shares. UBS Group set a $13.00 price objective on FGI Industries in a research report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a research report on Monday, September 21st. Benchmark reiterated a “speculative buy” rating and issued a $13.00 price objective (up from $8.00) on shares of FGI Industries in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of FGI Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.00.

About FGI Industries

FGI Industries Ltd. is a global manufacturer and distributor of bathroom and kitchen products. The company supplies products for residential, hospitality, commercial and multifamily construction applications through retail, wholesale and e-commerce channels. Its product portfolio includes bathroom vanities and furniture, bathtubs, shower systems and enclosures, toilets, sinks, faucets, mirrors and related accessories. FGI markets products under brands that include Foremost, Jetcoat and Bootz, serving customers across North America and other international markets.