Gentex Corporation (GNTX) to Release Quarterly Earnings on Friday
Gentex Corporation (NASDAQ:GNTX) is set to issue its quarterly earnings data before the market opens on Friday, October 20th. Analysts expect the company to announce earnings of $0.31 per share for the quarter.
Gentex Corporation (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The business had revenue of $443.10 million during the quarter, compared to analysts’ expectations of $446.36 million. During the same quarter in the previous year, the company posted $0.30 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. On average, analysts expect Gentex Corporation to post $1.27 EPS for the current fiscal year and $1.39 EPS for the next fiscal year.
Gentex Corporation (GNTX) opened at 19.83 on Friday. The stock has a market cap of $5.66 billion, a P/E ratio of 15.74 and a beta of 1.18. Gentex Corporation has a 12-month low of $16.06 and a 12-month high of $22.12. The stock has a 50 day moving average price of $19.18 and a 200-day moving average price of $19.01.
Gentex Corporation announced that its Board of Directors has initiated a share buyback program on Wednesday, August 23rd that allows the company to buyback 15,000,000 outstanding shares. This buyback authorization allows the auto parts company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, October 6th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, October 5th. Gentex Corporation’s payout ratio is 31.50%.
In related news, insider Kevin C. Nash sold 4,320 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $85,104.00. Following the completion of the sale, the insider now directly owns 30,732 shares of the company’s stock, valued at $605,420.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Steven R. Downing sold 8,000 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total value of $157,600.00. Following the completion of the sale, the chief financial officer now directly owns 47,362 shares of the company’s stock, valued at $933,031.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,720 shares of company stock valued at $4,391,506. 2.50% of the stock is owned by corporate insiders.
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GNTX has been the topic of a number of analyst reports. BidaskClub raised Gentex Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. ValuEngine lowered Gentex Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $22.00 target price (down from $25.00) on shares of Gentex Corporation in a research report on Monday, July 24th. Craig Hallum lowered Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research report on Monday, July 24th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $25.00 target price on shares of Gentex Corporation in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $21.58.
About Gentex Corporation
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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