Brokerages expect Gentex Co. (NASDAQ:GNTX) to post sales of $467.10 million for the current quarter, according to Zacks. Five analysts have issued estimates for Gentex’s earnings. The lowest sales estimate is $458.80 million and the highest is $470.42 million. Gentex posted sales of $454.98 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.7%. The company is scheduled to issue its next earnings report on Friday, July 19th.
According to Zacks, analysts expect that Gentex will report full-year sales of $1.88 billion for the current financial year, with estimates ranging from $1.87 billion to $1.90 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.99 billion, with estimates ranging from $1.93 billion to $2.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Gentex.
Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Wednesday, April 24th. The auto parts company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Gentex had a net margin of 23.45% and a return on equity of 23.03%. The firm had revenue of $468.60 million during the quarter, compared to the consensus estimate of $463.79 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis.
Several research firms recently weighed in on GNTX. BidaskClub upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. ValuEngine upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets reduced their price target on shares of Gentex from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Gentex currently has an average rating of “Hold” and an average target price of $22.28.
Shares of GNTX traded down $0.03 during mid-day trading on Friday, hitting $23.77. 737,099 shares of the company were exchanged, compared to its average volume of 1,732,156. Gentex has a 1-year low of $17.80 and a 1-year high of $25.37. The company has a market cap of $6.09 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be issued a $0.115 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $0.46 dividend on an annualized basis and a yield of 1.94%. Gentex’s payout ratio is 28.40%.
In other Gentex news, Director Gary F. Goode sold 5,045 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $23.20, for a total value of $117,044.00. Following the completion of the sale, the director now owns 21,045 shares in the company, valued at approximately $488,244. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Matthew Chiodo sold 3,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.82, for a total transaction of $62,460.00. Following the completion of the sale, the vice president now owns 34,454 shares of the company’s stock, valued at approximately $717,332.28. The disclosure for this sale can be found here. In the last quarter, insiders acquired 2,009 shares of company stock valued at $35,318 and sold 10,731 shares valued at $235,427. 0.37% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in GNTX. JPMorgan Chase & Co. increased its holdings in shares of Gentex by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 867,564 shares of the auto parts company’s stock worth $18,618,000 after buying an additional 83,550 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Gentex by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 24,110,056 shares of the auto parts company’s stock worth $517,401,000 after buying an additional 272,847 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of Gentex by 9.2% during the 4th quarter. Royal London Asset Management Ltd. now owns 118,333 shares of the auto parts company’s stock worth $2,348,000 after buying an additional 9,981 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Gentex by 13.0% during the 4th quarter. Advisors Asset Management Inc. now owns 82,961 shares of the auto parts company’s stock worth $1,677,000 after buying an additional 9,547 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Gentex by 31.5% during the 4th quarter. Rhumbline Advisers now owns 802,172 shares of the auto parts company’s stock worth $16,212,000 after buying an additional 192,037 shares during the last quarter. Institutional investors own 82.67% of the company’s stock.
Gentex Company Profile
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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