FGI Industries (NASDAQ:FGI) Posts Earnings Results

FGI Industries (NASDAQ:FGI) released its earnings results on Wednesday. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.50, FiscalAI reports. FGI Industries had a negative net margin of 5.07% and a negative return on equity of 4.56%. The firm had revenue of $31.89 million during the quarter, compared to analyst estimates of $33.85 million.

FGI Industries Trading Up 4.0%

FGI stock traded up $0.18 during midday trading on Wednesday, hitting $4.73. The company’s stock had a trading volume of 31,542 shares, compared to its average volume of 95,583. The firm’s 50-day moving average is $4.69 and its 200-day moving average is $5.18. FGI Industries has a 12 month low of $3.14 and a 12 month high of $12.62. The company has a market cap of $9.13 million, a PE ratio of -1.40 and a beta of 2.20.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wall Street Zen lowered FGI Industries from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Zacks Research cut FGI Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of FGI Industries in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

FGI Industries Company Profile

FGI Industries ltd. supplies kitchen and bath products in the United States, Canada, Europe, and internationally. The company sells sanitaryware products, such as toilets, sinks, pedestals, and toilet seats; wood and wood-substitute furniture for bathrooms, including vanities, mirrors, laundry, medicine cabinets, and other storage systems; shower systems; and customer kitchen cabinetry and other accessory items under the Foremost, avenue, contrac, Jetcoat, rosenberg, and Covered Bridge Cabinetry brand names.