$455.61 Million in Sales Expected for Gentex Corporation (GNTX) This Quarter
Wall Street analysts expect Gentex Corporation (NASDAQ:GNTX) to post sales of $455.61 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Gentex Corporation’s earnings. The highest sales estimate is $459.67 million and the lowest is $450.00 million. Gentex Corporation posted sales of $429.64 million during the same quarter last year, which would suggest a positive year over year growth rate of 6%. The firm is expected to announce its next earnings report on Thursday, October 19th.
On average, analysts expect that Gentex Corporation will report full-year sales of $455.61 million for the current fiscal year, with estimates ranging from $1.80 billion to $1.82 billion. For the next financial year, analysts expect that the company will post sales of $1.96 billion per share, with estimates ranging from $1.93 billion to $2.00 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Gentex Corporation.
Gentex Corporation (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by $0.01. The firm had revenue of $443.10 million for the quarter, compared to the consensus estimate of $446.36 million. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 EPS.
A number of brokerages have issued reports on GNTX. BidaskClub cut Gentex Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. BMO Capital Markets reissued an “outperform” rating and set a $22.00 price objective (down from $25.00) on shares of Gentex Corporation in a report on Monday, July 24th. FBR & Co reissued an “outperform” rating and set a $25.00 price objective on shares of Gentex Corporation in a report on Monday, July 24th. Craig Hallum cut Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a report on Monday, July 24th. Finally, Zacks Investment Research cut Gentex Corporation from a “hold” rating to a “sell” rating in a report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.75.
In related news, Director John A. Mulder sold 10,000 shares of Gentex Corporation stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $19.22, for a total value of $192,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Alps Advisors Inc. boosted its position in shares of Gentex Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 21,945 shares of the auto parts company’s stock worth $416,000 after buying an additional 56 shares during the period. Trust Co. of Toledo NA OH boosted its position in shares of Gentex Corporation by 0.5% in the first quarter. Trust Co. of Toledo NA OH now owns 13,729 shares of the auto parts company’s stock worth $293,000 after buying an additional 63 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Gentex Corporation by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 49,511 shares of the auto parts company’s stock worth $1,056,000 after buying an additional 134 shares during the period. Cardinal Capital Management boosted its position in shares of Gentex Corporation by 1.6% in the first quarter. Cardinal Capital Management now owns 22,234 shares of the auto parts company’s stock worth $474,000 after buying an additional 349 shares during the period. Finally, Gateway Investment Advisers LLC boosted its position in shares of Gentex Corporation by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 93,609 shares of the auto parts company’s stock worth $1,776,000 after buying an additional 388 shares during the period. Hedge funds and other institutional investors own 82.40% of the company’s stock.
Gentex Corporation (NASDAQ GNTX) opened at 17.25 on Monday. Gentex Corporation has a 52-week low of $16.06 and a 52-week high of $22.12. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 13.69 and a beta of 1.18. The stock’s 50 day moving average is $18.31 and its 200 day moving average is $19.88.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 19th. Investors of record on Thursday, July 6th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Gentex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date was Monday, July 3rd. Gentex Corporation’s dividend payout ratio (DPR) is presently 31.50%.
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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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