Brokerages Anticipate Gentex Corporation (GNTX) Will Announce Quarterly Sales of $451.65 Million
Wall Street analysts expect that Gentex Corporation (NASDAQ:GNTX) will report sales of $451.65 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Gentex Corporation’s earnings, with the lowest sales estimate coming in at $448.61 million and the highest estimate coming in at $455.60 million. Gentex Corporation posted sales of $423.80 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The company is expected to announce its next quarterly earnings report before the market opens on Friday, July 21st.
On average, analysts expect that Gentex Corporation will report full year sales of $451.65 million for the current fiscal year, with estimates ranging from $1.80 billion to $1.84 billion. For the next year, analysts anticipate that the company will post sales of $1.97 billion per share, with estimates ranging from $1.93 billion to $2.02 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Gentex Corporation.
Gentex Corporation (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 21st. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Gentex Corporation had a net margin of 21.13% and a return on equity of 19.39%. The company had revenue of $453.54 million during the quarter, compared to analysts’ expectations of $444.92 million. During the same quarter in the prior year, the company earned $0.28 EPS. The firm’s revenue was up 11.8% on a year-over-year basis.
Several equities research analysts recently weighed in on GNTX shares. BMO Capital Markets restated a “positive” rating and issued a $25.00 price target on shares of Gentex Corporation in a research report on Friday, March 24th. Zacks Investment Research lowered shares of Gentex Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 26th. Finally, Wellington Shields lowered shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $23.10.
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Shares of Gentex Corporation (GNTX) opened at 18.59 on Friday. The stock has a 50 day moving average of $18.90 and a 200-day moving average of $20.22. Gentex Corporation has a 52 week low of $14.66 and a 52 week high of $22.12. The stock has a market cap of $5.34 billion, a PE ratio of 14.99 and a beta of 1.19.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 19th. Shareholders of record on Thursday, July 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.15%. This is a positive change from Gentex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, July 3rd. Gentex Corporation’s payout ratio is presently 31.75%.
In other Gentex Corporation news, VP Joseph E. Iv Matthews sold 9,996 shares of Gentex Corporation stock in a transaction on Monday, April 24th. The shares were sold at an average price of $20.31, for a total transaction of $203,018.76. Following the completion of the transaction, the vice president now directly owns 20,100 shares of the company’s stock, valued at $408,231. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Mulder sold 10,000 shares of Gentex Corporation stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $19.22, for a total transaction of $192,200.00. The disclosure for this sale can be found here. Insiders have sold 45,610 shares of company stock valued at $926,429 over the last ninety days. 2.50% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of GNTX. Profund Advisors LLC raised its stake in shares of Gentex Corporation by 5.6% in the first quarter. Profund Advisors LLC now owns 40,105 shares of the auto parts company’s stock worth $855,000 after buying an additional 2,119 shares in the last quarter. Hollencrest Securities LLC bought a new stake in shares of Gentex Corporation during the first quarter worth about $297,000. Nationwide Fund Advisors raised its stake in shares of Gentex Corporation by 0.8% in the first quarter. Nationwide Fund Advisors now owns 479,673 shares of the auto parts company’s stock worth $10,231,000 after buying an additional 3,649 shares in the last quarter. Cape Cod Five Cents Savings Bank bought a new stake in shares of Gentex Corporation during the first quarter worth about $919,000. Finally, Reliance Trust Co. of Delaware bought a new stake in shares of Gentex Corporation during the first quarter worth about $254,000. 82.75% of the stock is owned by hedge funds and other institutional investors.
Gentex Corporation Company Profile
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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