Brokerages forecast that Gentex Co. (NASDAQ:GNTX) will report $451.65 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Gentex’s earnings, with estimates ranging from $448.61 million to $455.6 million. Gentex reported sales of $423.8 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The business is scheduled to report its next earnings report on Friday, July 28th.
On average, analysts expect that Gentex will report full year sales of $451.65 million for the current year, with estimates ranging from $1.8 billion to $1.84 billion. For the next year, analysts anticipate that the company will post sales of $1.97 billion per share, with estimates ranging from $1.93 billion to $2.02 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Gentex.
Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, April 21st. The auto parts company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Gentex had a return on equity of 19.05% and a net margin of 20.70%. The business earned $453.54 million during the quarter, compared to analysts’ expectations of $444.92 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year.
A number of research analysts recently issued reports on GNTX shares. Zacks Investment Research lowered Gentex from a “hold” rating to a “sell” rating in a research report on Thursday, March 30th. BMO Capital Markets restated a “positive” rating and set a $25.00 price objective on shares of Gentex in a research report on Friday, March 24th. FBR & Co boosted their price objective on Gentex from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, January 13th. Wellington Shields lowered Gentex from a “gradually accumulate” rating to a “hold” rating in a research report on Thursday. Finally, KeyCorp restated an “overweight” rating on shares of Gentex in a research report on Monday, January 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Gentex presently has an average rating of “Buy” and an average target price of $23.10.
In other Gentex news, Director Frederick A. Sotok sold 19,000 shares of Gentex stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $20.84, for a total transaction of $395,960.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John A. Mulder sold 10,000 shares of Gentex stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $21.28, for a total value of $212,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,610 shares of company stock worth $947,029 in the last ninety days. 2.90% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Farr Miller & Washington LLC DC increased its stake in shares of Gentex by 0.7% in the fourth quarter. Farr Miller & Washington LLC DC now owns 13,687 shares of the auto parts company’s stock valued at $269,000 after buying an additional 89 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its stake in shares of Gentex by 0.5% in the third quarter. Dumont & Blake Investment Advisors LLC now owns 40,085 shares of the auto parts company’s stock valued at $704,000 after buying an additional 185 shares during the last quarter. Cadence Capital Management LLC increased its stake in shares of Gentex by 0.4% in the fourth quarter. Cadence Capital Management LLC now owns 78,869 shares of the auto parts company’s stock valued at $1,553,000 after buying an additional 338 shares during the last quarter. Cardinal Capital Management increased its stake in shares of Gentex by 1.6% in the first quarter. Cardinal Capital Management now owns 22,234 shares of the auto parts company’s stock valued at $474,000 after buying an additional 349 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Gentex by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 5,660 shares of the auto parts company’s stock valued at $117,000 after buying an additional 471 shares during the last quarter. 83.86% of the stock is currently owned by hedge funds and other institutional investors.
Gentex (NASDAQ:GNTX) traded up 0.50% during midday trading on Wednesday, hitting $20.06. The stock had a trading volume of 1,406,586 shares. Gentex has a one year low of $14.66 and a one year high of $22.12. The stock has a 50-day moving average price of $20.59 and a 200 day moving average price of $19.86. The firm has a market cap of $5.77 billion, a PE ratio of 16.18 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 19th. Shareholders of record on Friday, April 7th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, April 5th. Gentex’s payout ratio is currently 29.75%.
Gentex Company Profile
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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