Q3 2024 Earnings Estimate for Gentex Co. Issued By Seaport Res Ptn (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) – Seaport Res Ptn boosted their Q3 2024 earnings per share estimates for shares of Gentex in a note issued to investors on Sunday, April 28th. Seaport Res Ptn analyst G. Chin now anticipates that the auto parts company will post earnings of $0.54 per share for the quarter, up from their prior estimate of $0.53. The consensus estimate for Gentex’s current full-year earnings is $2.17 per share. Seaport Res Ptn also issued estimates for Gentex’s Q4 2024 earnings at $0.56 EPS and FY2025 earnings at $2.31 EPS.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $590.23 million for the quarter, compared to analyst estimates of $600.38 million. Gentex had a net margin of 18.77% and a return on equity of 19.19%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share.

Several other equities analysts have also recently weighed in on GNTX. Guggenheim lifted their price target on Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group lifted their target price on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, January 29th. B. Riley upped their price target on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.83.

Gentex Price Performance

Shares of GNTX stock opened at $34.86 on Tuesday. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 0.73 and a beta of 0.99. The company’s fifty day simple moving average is $35.67 and its two-hundred day simple moving average is $33.13. Gentex has a 1 year low of $25.86 and a 1 year high of $37.58.

Institutional Investors Weigh In On Gentex

Institutional investors have recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new position in shares of Gentex in the third quarter valued at about $618,000. IFG Advisory LLC grew its stake in shares of Gentex by 85.1% in the fourth quarter. IFG Advisory LLC now owns 129,203 shares of the auto parts company’s stock worth $4,220,000 after purchasing an additional 59,407 shares during the last quarter. New York Life Investment Management LLC increased its holdings in Gentex by 112.3% during the 3rd quarter. New York Life Investment Management LLC now owns 24,876 shares of the auto parts company’s stock valued at $809,000 after purchasing an additional 13,161 shares during the period. Cumberland Partners Ltd raised its position in Gentex by 104.1% during the 4th quarter. Cumberland Partners Ltd now owns 184,655 shares of the auto parts company’s stock valued at $6,030,000 after purchasing an additional 94,195 shares during the last quarter. Finally, Jump Financial LLC lifted its holdings in Gentex by 130.7% in the 3rd quarter. Jump Financial LLC now owns 123,805 shares of the auto parts company’s stock worth $4,029,000 after buying an additional 70,138 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of Gentex stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the transaction, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the sale, the director now owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin C. Nash sold 13,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, April 4th. Gentex’s dividend payout ratio (DPR) is currently 25.40%.

Gentex Company Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.