Brokerages forecast that Thermon Group Holdings Inc (NYSE:THR) will announce $0.23 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Thermon Group’s earnings, with estimates ranging from $0.21 to $0.24. Thermon Group reported earnings of $0.15 per share in the same quarter last year, which suggests a positive year over year growth rate of 53.3%. The firm is scheduled to announce its next earnings report on Monday, October 22nd.

On average, analysts expect that Thermon Group will report full year earnings of $1.30 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.37. For the next year, analysts expect that the business will report earnings of $1.40 per share, with EPS estimates ranging from $1.34 to $1.46. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Thermon Group.

Thermon Group (NYSE:THR) last released its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.14 by $0.10. Thermon Group had a net margin of 4.19% and a return on equity of 9.55%. The firm had revenue of $88.90 million during the quarter, compared to the consensus estimate of $78.65 million. During the same quarter in the prior year, the firm earned $0.08 EPS. Thermon Group’s revenue for the quarter was up 71.8% on a year-over-year basis.

Several analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Thermon Group from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, August 2nd. Zacks Investment Research cut shares of Thermon Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, SunTrust Banks reissued a “hold” rating and issued a $26.00 price objective on shares of Thermon Group in a research note on Tuesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $28.50.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp increased its stake in Thermon Group by 2.2% in the 2nd quarter. Northern Trust Corp now owns 678,253 shares of the technology company’s stock valued at $15,513,000 after buying an additional 14,889 shares during the period. California Public Employees Retirement System grew its stake in shares of Thermon Group by 34.7% during the 2nd quarter. California Public Employees Retirement System now owns 74,961 shares of the technology company’s stock worth $1,714,000 after purchasing an additional 19,306 shares during the period. Millennium Management LLC grew its stake in shares of Thermon Group by 540.3% during the 2nd quarter. Millennium Management LLC now owns 278,719 shares of the technology company’s stock worth $6,374,000 after purchasing an additional 235,188 shares during the period. United Services Automobile Association grew its stake in shares of Thermon Group by 17.4% during the 2nd quarter. United Services Automobile Association now owns 563,395 shares of the technology company’s stock worth $12,885,000 after purchasing an additional 83,650 shares during the period. Finally, Citadel Advisors LLC grew its stake in shares of Thermon Group by 33.5% during the 2nd quarter. Citadel Advisors LLC now owns 117,923 shares of the technology company’s stock worth $2,697,000 after purchasing an additional 29,573 shares during the period.

THR stock opened at $24.71 on Thursday. Thermon Group has a 12 month low of $20.52 and a 12 month high of $27.95. The firm has a market capitalization of $839.41 million, a P/E ratio of 24.96 and a beta of 1.09. The company has a quick ratio of 2.66, a current ratio of 3.93 and a debt-to-equity ratio of 0.64.

Thermon Group Company Profile

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.

Featured Story: What does earnings per share mean?

Get a free copy of the Zacks research report on Thermon Group (THR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Thermon Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermon Group and related companies with MarketBeat.com's FREE daily email newsletter.