Gentex (GNTX) Posts Earnings Results, Beats Expectations By $0.01 EPS

Gentex (NASDAQ:GNTX) released its quarterly earnings data on Friday. The auto parts company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01, Morningstar.com reports. The firm had revenue of $459.57 million for the quarter, compared to analyst estimates of $449.43 million. Gentex had a net margin of 20.80% and a return on equity of 18.45%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share.

Shares of Gentex (NASDAQ GNTX) traded up $0.91 on Friday, hitting $23.79. 4,050,000 shares of the company’s stock were exchanged, compared to its average volume of 2,250,000. Gentex has a 1-year low of $16.59 and a 1-year high of $24.07. The firm has a market capitalization of $7,020.00, a PE ratio of 18.88, a PEG ratio of 1.64 and a beta of 1.22.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, January 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Thursday, January 4th. Gentex’s dividend payout ratio is presently 31.75%.

GNTX has been the topic of a number of research reports. Robert W. Baird cut their price objective on shares of Gentex from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, October 23rd. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, October 17th. BidaskClub upgraded shares of Gentex from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. FBR & Co reaffirmed a “buy” rating and set a $25.00 price objective on shares of Gentex in a report on Wednesday, October 18th. Finally, ValuEngine raised shares of Gentex from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Gentex currently has a consensus rating of “Buy” and an average price target of $23.17.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Gentex during the fourth quarter valued at about $3,592,000. SG Americas Securities LLC increased its position in shares of Gentex by 149.6% during the fourth quarter. SG Americas Securities LLC now owns 131,582 shares of the auto parts company’s stock valued at $2,757,000 after acquiring an additional 78,860 shares during the last quarter. American Capital Management Inc. increased its position in shares of Gentex by 1.2% during the fourth quarter. American Capital Management Inc. now owns 2,465,049 shares of the auto parts company’s stock valued at $51,643,000 after acquiring an additional 29,136 shares during the last quarter. First Quadrant L P CA increased its position in shares of Gentex by 10.8% during the fourth quarter. First Quadrant L P CA now owns 1,150,923 shares of the auto parts company’s stock valued at $24,112,000 after acquiring an additional 112,425 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP increased its position in shares of Gentex by 21.5% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 292,950 shares of the auto parts company’s stock valued at $6,137,000 after acquiring an additional 51,800 shares during the last quarter. Institutional investors and hedge funds own 81.65% of the company’s stock.

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About Gentex

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.

Earnings History for Gentex (NASDAQ:GNTX)

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