FY2024 EPS Estimates for FGI Industries Reduced by Analyst

FGI Industries Ltd. (NASDAQ:FGI) – Analysts at Northland Capmk cut their FY2024 earnings per share estimates for shares of FGI Industries in a note issued to investors on Wednesday, November 13th. Northland Capmk analyst G. Gibas now anticipates that the company will post earnings per share of ($0.08) for the year, down from their prior estimate of ($0.01). The consensus estimate for FGI Industries’ current full-year earnings is ($0.08) per share. Northland Capmk also issued estimates for FGI Industries’ Q4 2024 earnings at $0.00 EPS.

FGI Industries Stock Down 2.9 %

FGI stock opened at $0.83 on Monday. FGI Industries has a 52-week low of $0.70 and a 52-week high of $1.85. The firm has a market cap of $7.89 million, a P/E ratio of -27.50 and a beta of 1.32. The company’s 50-day simple moving average is $0.85 and its 200-day simple moving average is $0.93.

FGI Industries (NASDAQ:FGI) last announced its quarterly earnings results on Monday, November 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. FGI Industries had a negative net margin of 0.27% and a positive return on equity of 0.35%. The firm had revenue of $36.10 million for the quarter, compared to the consensus estimate of $30.80 million. During the same period in the prior year, the firm posted $0.05 earnings per share.

Hedge Funds Weigh In On FGI Industries

A hedge fund recently raised its stake in FGI Industries stock. Perritt Capital Management Inc. grew its stake in FGI Industries Ltd. (NASDAQ:FGI) by 21.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,000 shares of the company’s stock after purchasing an additional 12,385 shares during the quarter. Perritt Capital Management Inc. owned approximately 0.73% of FGI Industries worth $104,000 as of its most recent SEC filing.

About FGI Industries

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.