Northland Capmk Forecasts Lower Earnings for FGI Industries

FGI Industries Ltd. (NASDAQ:FGI) – Analysts at Northland Capmk decreased their FY2024 EPS estimates for FGI Industries in a research note issued on Wednesday, November 13th. Northland Capmk analyst G. Gibas now expects 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 Trading Down 6.7 %

NASDAQ FGI opened at $0.80 on Monday. The company has a fifty day simple moving average of $0.85 and a 200 day simple moving average of $0.93. FGI Industries has a 12-month low of $0.70 and a 12-month high of $1.85. The company has a market cap of $7.67 million, a P/E ratio of -26.74 and a beta of 1.32.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in FGI Industries stock. Perritt Capital Management Inc. increased its position in shares of FGI Industries Ltd. (NASDAQ:FGI) by 21.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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.