Zacks: Analysts Expect Gates Industrial Corp PLC (GTES) Will Announce Earnings of $0.26 Per Share
Equities analysts expect that Gates Industrial Corp PLC (NYSE:GTES) will announce $0.26 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Gates Industrial’s earnings. The highest EPS estimate is $0.27 and the lowest is $0.26. The firm is scheduled to issue its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Gates Industrial will report full year earnings of $1.18 per share for the current fiscal year, with EPS estimates ranging from $1.16 to $1.21. For the next fiscal year, analysts expect that the company will post earnings of $1.32 per share, with EPS estimates ranging from $1.29 to $1.38. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Gates Industrial.
Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Wednesday, August 1st. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $875.10 million during the quarter, compared to analysts’ expectations of $860.95 million.
Gates Industrial traded down $0.28, reaching $17.70, during trading on Friday, Marketbeat reports. The company’s stock had a trading volume of 172,307 shares, compared to its average volume of 563,435. The company has a market capitalization of $5.00 billion and a PE ratio of 21.59. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.47 and a quick ratio of 1.80. Gates Industrial has a 12 month low of $14.60 and a 12 month high of $20.00.
In other Gates Industrial news, insider Ivo Jurek acquired 10,000 shares of Gates Industrial stock in a transaction on Friday, May 25th. The stock was purchased at an average price of $15.36 per share, for a total transaction of $153,600.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Gates Industrial during the 1st quarter worth $108,000. Cubist Systematic Strategies LLC bought a new position in shares of Gates Industrial during the 1st quarter worth $180,000. Diversified Trust Co bought a new position in shares of Gates Industrial during the 1st quarter worth $191,000. Teacher Retirement System of Texas bought a new position in shares of Gates Industrial during the 2nd quarter worth $191,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Gates Industrial by 46,566.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,600 shares of the company’s stock worth $206,000 after acquiring an additional 12,573 shares during the period.
Gates Industrial Company Profile
Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.
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