Gentex Corporation Announces Quarterly Dividend of $0.12 (NASDAQ:GNTX)

Gentex Corporation (NASDAQ:GNTX) announced a quarterly dividend on Friday, May 29th. Investors of record on Wednesday, July 8th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, July 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, July 8th.

Gentex has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Gentex to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.1%.

Gentex Stock Performance

GNTX opened at $24.16 on Friday. The business’s fifty day moving average is $22.61 and its two-hundred day moving average is $23.09. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 13.57 and a beta of 0.78. Gentex has a one year low of $20.48 and a one year high of $29.38.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The business had revenue of $675.44 million during the quarter, compared to analysts’ expectations of $649.42 million. During the same period last year, the company posted $0.42 EPS. The company’s revenue was up 17.1% on a year-over-year basis. On average, analysts predict that Gentex will post 1.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on GNTX shares. Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. B. Riley Financial restated a “buy” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. JPMorgan Chase & Co. upped their price target on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Robert W. Baird upped their price target on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, UBS Group set a $26.00 price target on Gentex in a research note on Sunday, April 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Gentex has a consensus rating of “Hold” and an average target price of $26.83.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).