Global Industrial (NYSE:GIC) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Global Industrial (NYSE:GIC) issued its quarterly earnings results on Tuesday. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03, Zacks reports. Global Industrial had a return on equity of 22.85% and a net margin of 5.11%.The company had revenue of $345.60 million for the quarter, compared to analysts’ expectations of $324.86 million.

Global Industrial Trading Down 0.1%

Shares of GIC traded down $0.04 during trading hours on Tuesday, reaching $30.89. 93,089 shares of the company’s stock traded hands, compared to its average volume of 87,864. The firm’s 50 day simple moving average is $30.94 and its 200-day simple moving average is $32.31. The stock has a market cap of $1.19 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.01 and a beta of 0.90. Global Industrial has a 12 month low of $20.79 and a 12 month high of $38.79.

Institutional Investors Weigh In On Global Industrial

A number of large investors have recently made changes to their positions in the business. Swiss National Bank increased its stake in shares of Global Industrial by 1.9% in the 4th quarter. Swiss National Bank now owns 37,800 shares of the company’s stock worth $1,105,000 after acquiring an additional 700 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Global Industrial by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,146 shares of the company’s stock valued at $706,000 after buying an additional 1,038 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Global Industrial by 16.3% in the second quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company’s stock worth $215,000 after purchasing an additional 1,120 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Global Industrial by 2.3% in the second quarter. Bank of America Corp DE now owns 51,366 shares of the company’s stock worth $1,387,000 after buying an additional 1,137 shares in the last quarter. Finally, Polymer Capital Management US LLC increased its holdings in shares of Global Industrial by 11.5% in the fourth quarter. Polymer Capital Management US LLC now owns 11,641 shares of the company’s stock worth $340,000 after purchasing an additional 1,201 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GIC. Weiss Ratings reissued a “hold (c)” rating on shares of Global Industrial in a report on Thursday, January 22nd. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Finally, Zacks Research upgraded shares of Global Industrial from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Global Industrial presently has a consensus rating of “Hold”.

Global Industrial Company Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.