Gentex Corporation (GNTX) to Post Q4 2017 Earnings of $0.34 Per Share, KeyCorp Forecasts
Gentex Corporation (NASDAQ:GNTX) – KeyCorp cut their Q4 2017 earnings per share estimates for Gentex Corporation in a research note issued to investors on Sunday. KeyCorp analyst B. Hoselton now anticipates that the auto parts company will post earnings per share of $0.34 for the quarter, down from their prior forecast of $0.35. KeyCorp has a “Buy” rating and a $25.00 price target on the stock.
Other equities analysts have also issued research reports about the company. Craig Hallum lowered Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research note on Monday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $22.00 price target (down previously from $25.00) on shares of Gentex Corporation in a research note on Monday, July 24th. Robert W. Baird raised Gentex Corporation from a “neutral” rating to an “outperform” rating and upped their price target for the company from $17.36 to $22.00 in a research note on Thursday, August 24th. Zacks Investment Research raised Gentex Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $25.00 price target on shares of Gentex Corporation in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.06.
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Shares of Gentex Corporation (NASDAQ GNTX) traded down 1.57% during mid-day trading on Wednesday, reaching $18.80. The company had a trading volume of 285,878 shares. The stock’s 50-day moving average price is $19.57 and its 200 day moving average price is $18.94. The company has a market capitalization of $5.37 billion, a PE ratio of 14.92 and a beta of 1.18. Gentex Corporation has a 1-year low of $16.06 and a 1-year high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $438.63 million during the quarter, compared to the consensus estimate of $452.42 million. Gentex Corporation had a return on equity of 18.45% and a net margin of 20.80%. Gentex Corporation’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Friday, October 6th were issued a $0.10 dividend. The ex-dividend date was Thursday, October 5th. This represents a $0.40 annualized dividend and a dividend yield of 2.09%. Gentex Corporation’s dividend payout ratio is presently 31.75%.
Gentex Corporation announced that its board has initiated a stock buyback plan on Wednesday, August 23rd that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In related news, Chairman Fred Bauer sold 239,400 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $17.33, for a total value of $4,148,802.00. Following the sale, the chairman now owns 5,771,128 shares in the company, valued at approximately $100,013,648.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin C. Nash sold 4,320 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were 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 owns 30,732 shares in the company, valued at approximately $605,420.40. The disclosure for this sale can be found here. Insiders sold a total of 251,720 shares of company stock worth $4,391,506 in the last quarter. Company insiders own 2.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Airain ltd purchased a new stake in shares of Gentex Corporation in the 2nd quarter valued at $1,055,000. Legal & General Group Plc raised its holdings in shares of Gentex Corporation by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,243,650 shares of the auto parts company’s stock valued at $23,592,000 after buying an additional 85,684 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Gentex Corporation by 43.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 128,796 shares of the auto parts company’s stock valued at $2,444,000 after buying an additional 39,317 shares during the period. Employees Retirement System of Texas raised its holdings in shares of Gentex Corporation by 80.5% in the 2nd quarter. Employees Retirement System of Texas now owns 231,000 shares of the auto parts company’s stock valued at $4,382,000 after buying an additional 103,000 shares during the period. Finally, Provident Investment Management Inc. raised its holdings in shares of Gentex Corporation by 2.9% in the 2nd quarter. Provident Investment Management Inc. now owns 1,172,702 shares of the auto parts company’s stock valued at $22,246,000 after buying an additional 33,133 shares during the period. Hedge funds and other institutional investors own 80.86% of the company’s stock.
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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