FGI Industries (NASDAQ:FGI) Announces Earnings Results

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

FGI Industries Stock Up 4.0%

Shares of FGI stock traded up $0.18 during mid-day trading on Wednesday, reaching $4.73. 31,542 shares of the company’s stock traded hands, compared to its average volume of 95,583. 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 P/E ratio of -1.40 and a beta of 2.20. The company’s 50-day moving average price is $4.69 and its 200-day moving average price is $5.18.

Wall Street Analysts Forecast Growth

FGI has been the topic of several research analyst reports. Zacks Research cut FGI Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Wall Street Zen cut shares of FGI Industries from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of FGI Industries in a research report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, FGI Industries presently 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.