Generac Holdings Inc. (NYSE:GNRC) Expected to Post Q2 2024 Earnings of $1.27 Per Share

Generac Holdings Inc. (NYSE:GNRC) – Research analysts at Roth Capital reduced their Q2 2024 EPS estimates for Generac in a research note issued to investors on Wednesday, May 1st. Roth Capital analyst C. Moore now expects that the technology company will post earnings of $1.27 per share for the quarter, down from their prior estimate of $1.30. The consensus estimate for Generac’s current full-year earnings is $6.12 per share. Roth Capital also issued estimates for Generac’s Q1 2025 earnings at $1.06 EPS, Q2 2025 earnings at $1.67 EPS, Q3 2025 earnings at $2.56 EPS and Q4 2025 earnings at $2.71 EPS.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The firm had revenue of $889.27 million during the quarter, compared to the consensus estimate of $886.60 million. During the same quarter in the prior year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year.

Several other brokerages have also issued reports on GNRC. TD Cowen lowered their price target on Generac from $165.00 to $144.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Canaccord Genuity Group lifted their price objective on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, April 5th. Citigroup upped their target price on shares of Generac from $124.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Roth Mkm upped their price objective on shares of Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Finally, OTR Global raised Generac from a “mixed” rating to a “positive” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.40.

Generac Price Performance

Shares of Generac stock opened at $133.38 on Friday. The firm has a fifty day moving average price of $124.48 and a two-hundred day moving average price of $118.08. Generac has a fifty-two week low of $79.86 and a fifty-two week high of $156.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.94. The company has a market cap of $8.06 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41.

Hedge Funds Weigh In On Generac

Several hedge funds have recently made changes to their positions in the business. Ariel Investments LLC boosted its holdings in shares of Generac by 14.9% in the 3rd quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock valued at $219,047,000 after buying an additional 261,050 shares during the last quarter. Invesco Ltd. increased its stake in shares of Generac by 9.9% during the 3rd quarter. Invesco Ltd. now owns 1,633,226 shares of the technology company’s stock worth $177,956,000 after purchasing an additional 147,523 shares during the last quarter. Capital World Investors bought a new stake in shares of Generac in the 4th quarter valued at about $155,707,000. Impax Asset Management Group plc lifted its stake in Generac by 3.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,172,742 shares of the technology company’s stock valued at $127,151,000 after purchasing an additional 37,846 shares during the last quarter. Finally, Northern Trust Corp increased its position in Generac by 9.0% during the third quarter. Northern Trust Corp now owns 673,384 shares of the technology company’s stock worth $73,372,000 after buying an additional 55,812 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total transaction of $699,750.00. Following the completion of the sale, the chief executive officer now owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by insiders.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.