Generac Holdings (GNRC) Announces Quarterly Earnings Results, Beats Estimates By $0.23 EPS
Generac Holdings (NASDAQ:GNRC) issued its quarterly earnings data on Thursday. The company reported $1.06 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.83 by $0.23, AnalystRatingsNetwork.com reports. The company had revenue of $363.30 million for the quarter, compared to the consensus estimate of $341.92 million. During the same quarter last year, the company posted $0.78 earnings per share. Generac Holdings’s revenue was up 20.9% compared to the same quarter last year.
A number of analysts have recently weighed in on GNRC shares. Analysts at Zacks downgraded shares of Generac Holdings from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, October 10th. They now have a $46.40 price target on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Generac Holdings from $46.00 to $51.00 in a research note to investors on Thursday, August 1st. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Generac Holdings currently has a consensus rating of “Buy” and a consensus price target of $43.04.
Generac Holdings (NASDAQ:GNRC) opened at 41.85 on Thursday. Generac Holdings has a one year low of $22.71 and a one year high of $44.30. The stock’s 50-day moving average is $41.65 and its 200-day moving average is $37.89. The company has a market cap of $2.864 billion and a P/E ratio of 21.93.
In other Generac Holdings news, CEO Aaron Jagdfeld sold 6,287 shares of the company’s stock on the open market in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $40.15, for a total value of $252,423.05. Following the completion of the sale, the chief executive officer now directly owns 637,076 shares of the company’s stock, valued at approximately $25,578,601. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Generac Holdings Inc (NASDAQ:GNRC) is a designer and manufacturer of a range of generators and other engine powered products for the residential, light commercial, industrial and construction markets.
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