Thermon Group (NYSE:THR) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Thermon Group (NYSE:THR) announced its quarterly earnings results on Thursday, June 6th. The technology company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01), reports. The firm had revenue of $114.20 million during the quarter, compared to analyst estimates of $101.74 million. Thermon Group had a net margin of 5.51% and a return on equity of 11.46%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. Thermon Group updated its FY 2020 guidance to EPS.

THR stock traded up $0.14 during mid-day trading on Friday, hitting $25.65. The stock had a trading volume of 420,059 shares, compared to its average volume of 186,599. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.28 and a quick ratio of 2.39. Thermon Group has a 52 week low of $18.37 and a 52 week high of $27.95. The stock has a market capitalization of $832.55 million, a price-to-earnings ratio of 21.55 and a beta of 1.41. The stock’s fifty day moving average is $24.36.

THR has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Thermon Group from a “c+” rating to a “b+” rating in a research note on Monday, March 4th. ValuEngine cut shares of Thermon Group from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Zacks Investment Research upgraded shares of Thermon Group from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $28.00.

In related news, SVP Der Salm Johannes Rene Van sold 8,716 shares of Thermon Group stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $23.90, for a total transaction of $208,312.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

About Thermon Group

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.

Further Reading: Current Ratio

Earnings History for Thermon Group (NYSE:THR)

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