Brokerages Expect Gentex Co. (GNTX) Will Post Quarterly Sales of $478.10 Million
Equities research analysts expect Gentex Co. (NASDAQ:GNTX) to announce $478.10 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Gentex’s earnings. The lowest sales estimate is $470.70 million and the highest is $484.17 million. Gentex reported sales of $438.63 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9%. The firm is scheduled to issue its next quarterly earnings results on Friday, October 19th.
On average, analysts expect that Gentex will report full-year sales of $1.90 billion for the current financial year, with estimates ranging from $1.89 billion to $1.90 billion. For the next year, analysts expect that the firm will post sales of $2.05 billion per share, with estimates ranging from $2.02 billion to $2.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Gentex.
Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 20th. The auto parts company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). The firm had revenue of $454.98 million for the quarter, compared to analysts’ expectations of $469.10 million. Gentex had a net margin of 24.25% and a return on equity of 20.27%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 EPS.
In other Gentex news, Director John A. Mulder sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in Gentex by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 3,990,552 shares of the auto parts company’s stock valued at $91,861,000 after purchasing an additional 56,538 shares during the period. Advisors Asset Management Inc. raised its position in Gentex by 232.9% in the second quarter. Advisors Asset Management Inc. now owns 58,815 shares of the auto parts company’s stock valued at $1,354,000 after purchasing an additional 41,147 shares during the period. Nomura Holdings Inc. purchased a new stake in Gentex in the second quarter valued at approximately $358,000. Fairfield Bush & CO. increased its position in shares of Gentex by 8.9% during the second quarter. Fairfield Bush & CO. now owns 49,871 shares of the auto parts company’s stock worth $1,148,000 after acquiring an additional 4,074 shares during the period. Finally, Glenmede Trust Co. NA increased its position in shares of Gentex by 7,214.5% during the second quarter. Glenmede Trust Co. NA now owns 983,868 shares of the auto parts company’s stock worth $22,649,000 after acquiring an additional 970,417 shares during the period. 85.85% of the stock is currently owned by institutional investors.
GNTX stock opened at $22.91 on Friday. The company has a market cap of $6.22 billion, a PE ratio of 16.07, a PEG ratio of 1.27 and a beta of 1.34. Gentex has a one year low of $18.51 and a one year high of $25.41.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Friday, October 5th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, October 4th. Gentex’s payout ratio is 34.38%.
Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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