Analysts Set Expectations for Gentex Corp.’s FY2018 Earnings (GNTX)
Gentex Corp. (NASDAQ:GNTX) – Equities researchers at KeyCorp issued their FY2018 earnings estimates for Gentex Corp. in a research note issued to investors on Tuesday. KeyCorp analyst B. Hoselton expects that the brokerage will earn $1.47 per share for the year.
Gentex Corp. (NASDAQ:GNTX) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. The business earned $429.60 million during the quarter, compared to the consensus estimate of $428.43 million. Gentex Corp. had a return on equity of 19.53% and a net margin of 20.86%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS.
A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Gentex Corp. from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday. FBR & Co reissued an “outperform” rating on shares of Gentex Corp. in a report on Thursday, November 10th. Finally, Wells Fargo & Co. reissued an “outperform” rating and issued a $19.00 price objective on shares of Gentex Corp. in a report on Tuesday, September 13th.
Gentex Corp. (NASDAQ:GNTX) traded up 0.17% on Friday, hitting $18.07. The stock had a trading volume of 1,627,065 shares. Gentex Corp. has a 12 month low of $12.93 and a 12 month high of $18.30. The stock has a market cap of $5.18 billion, a P/E ratio of 15.05 and a beta of 0.84. The company’s 50 day moving average is $17.22 and its 200-day moving average is $16.88.
A number of hedge funds have recently modified their holdings of GNTX. Underhill Investment Management LLC raised its stake in shares of Gentex Corp. by 1.0% in the second quarter. Underhill Investment Management LLC now owns 979,150 shares of the company’s stock valued at $15,128,000 after buying an additional 9,750 shares during the last quarter. PGGM Investments raised its stake in shares of Gentex Corp. by 21.2% in the second quarter. PGGM Investments now owns 2,187,201 shares of the company’s stock valued at $33,792,000 after buying an additional 382,663 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of Gentex Corp. by 12.2% in the second quarter. Tocqueville Asset Management L.P. now owns 788,450 shares of the company’s stock valued at $12,182,000 after buying an additional 85,600 shares during the last quarter. First Republic Investment Management Inc. raised its stake in shares of Gentex Corp. by 14.2% in the first quarter. First Republic Investment Management Inc. now owns 130,573 shares of the company’s stock valued at $2,049,000 after buying an additional 16,224 shares during the last quarter. Finally, Front Street Capital Management Inc. acquired a new stake in shares of Gentex Corp. during the second quarter valued at approximately $8,377,000. 86.47% of the stock is currently owned by institutional investors.
In related news, insider Kevin C. Nash sold 6,210 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $16.68, for a total transaction of $103,582.80. Following the sale, the insider now directly owns 31,830 shares of the company’s stock, valued at $530,924.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James H. Wallace sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $16.78, for a total value of $201,360.00. Following the completion of the sale, the director now directly owns 29,400 shares in the company, valued at $493,332. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 19th. Investors of record on Friday, October 7th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.00%. The ex-dividend date was Wednesday, October 5th. Gentex Corp.’s dividend payout ratio (DPR) is 30.00%.
About Gentex Corp.
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 segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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