FY2018 Earnings Estimate for Gentex Corporation Issued By KeyCorp (GNTX)
Gentex Corporation (NASDAQ:GNTX) – KeyCorp upped their FY2018 earnings per share (EPS) estimates for Gentex Corporation in a note issued to investors on Sunday. KeyCorp analyst B. Hoselton now expects that the auto parts company will post earnings of $1.44 per share for the year, up from their prior forecast of $1.43. KeyCorp has a “Buy” rating and a $25.00 price objective on the stock. KeyCorp also issued estimates for Gentex Corporation’s FY2019 earnings at $1.62 EPS.
GNTX has been the topic of a number of other reports. B. Riley reiterated a “buy” rating on shares of Gentex Corporation in a report on Wednesday, November 1st. Craig Hallum cut shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Monday, July 24th. BMO Capital Markets reissued an “outperform” rating and set a $22.00 target price (down previously from $25.00) on shares of Gentex Corporation in a report on Monday, July 24th. Robert W. Baird raised Gentex Corporation from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $17.36 to $22.00 in a report on Thursday, August 24th. Finally, Zacks Investment Research raised Gentex Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.06.
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Shares of Gentex Corporation (NASDAQ GNTX) traded down $0.09 during mid-day trading on Wednesday, reaching $18.91. 837,489 shares of the company’s stock traded hands, compared to its average volume of 1,845,797. The firm has a market cap of $5,405.51, a P/E ratio of 15.11, a P/E/G ratio of 1.55 and a beta of 1.20. Gentex Corporation has a 52-week low of $16.06 and a 52-week high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, October 20th. The auto parts company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The firm had revenue of $438.63 million for the quarter, compared to analyst estimates of $452.42 million. Gentex Corporation had a net margin of 20.80% and a return on equity of 18.45%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS.
A number of institutional investors have recently made changes to their positions in GNTX. Northwestern Mutual Wealth Management Co. boosted its position in shares of Gentex Corporation by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after purchasing an additional 368 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Gentex Corporation in the third quarter worth $105,000. LVM Capital Management Ltd. MI purchased a new stake in Gentex Corporation during the second quarter valued at $194,000. Sheaff Brock Investment Advisors LLC purchased a new stake in Gentex Corporation during the second quarter valued at $194,000. Finally, Verition Fund Management LLC purchased a new stake in Gentex Corporation during the second quarter valued at $195,000. 80.87% of the stock is currently owned by institutional investors and hedge funds.
In other Gentex Corporation news, insider Kevin C. Nash sold 4,320 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $85,104.00. Following the sale, the insider now owns 30,732 shares of the company’s stock, valued at approximately $605,420.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven R. Downing sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total value of $157,600.00. Following the transaction, the chief financial officer now directly owns 47,362 shares in the company, valued at $933,031.40. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. Gentex Corporation’s dividend payout ratio (DPR) is presently 31.75%.
Gentex Corporation announced that its board has initiated a stock buyback plan on Wednesday, August 23rd that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
About Gentex Corporation
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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