Brokers Issue Forecasts for Gentherm Incorporated’s Q2 2024 Earnings (NASDAQ:THRM)

Gentherm Incorporated (NASDAQ:THRM) – Analysts at Seaport Res Ptn decreased their Q2 2024 earnings per share estimates for shares of Gentherm in a research report issued on Tuesday, April 30th. Seaport Res Ptn analyst G. Chin now anticipates that the auto parts company will post earnings per share of $0.62 for the quarter, down from their previous forecast of $0.68. The consensus estimate for Gentherm’s current full-year earnings is $2.80 per share. Seaport Res Ptn also issued estimates for Gentherm’s Q4 2024 earnings at $0.85 EPS, FY2024 earnings at $2.83 EPS and FY2025 earnings at $3.24 EPS.

Gentherm (NASDAQ:THRM) last released its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.19. The company had revenue of $356.00 million for the quarter, compared to the consensus estimate of $361.11 million. Gentherm had a net margin of 2.75% and a return on equity of 12.91%. Gentherm’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Gentherm from $63.00 to $60.00 and set an “underweight” rating for the company in a research note on Monday, April 22nd. Robert W. Baird dropped their price target on Gentherm from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, StockNews.com raised shares of Gentherm from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $65.75.

Gentherm Stock Performance

THRM opened at $51.92 on Thursday. Gentherm has a 1-year low of $38.21 and a 1-year high of $66.54. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 42.21 and a beta of 1.49. The business has a 50 day moving average price of $54.27 and a two-hundred day moving average price of $50.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.12 and a quick ratio of 1.48.

Insider Activity

In related news, CEO Phillip Eyler sold 15,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $55.17, for a total transaction of $827,550.00. Following the transaction, the chief executive officer now directly owns 147,317 shares of the company’s stock, valued at $8,127,478.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.91% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Gentherm during the 3rd quarter valued at $404,000. Raymond James & Associates raised its stake in shares of Gentherm by 0.5% during the 3rd quarter. Raymond James & Associates now owns 104,144 shares of the auto parts company’s stock worth $5,651,000 after purchasing an additional 469 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Gentherm by 18.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,342 shares of the auto parts company’s stock valued at $398,000 after buying an additional 1,154 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Gentherm by 47.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,335 shares of the auto parts company’s stock worth $10,870,000 after buying an additional 64,352 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. increased its holdings in Gentherm by 0.6% in the third quarter. Punch & Associates Investment Management Inc. now owns 153,236 shares of the auto parts company’s stock worth $8,315,000 after buying an additional 860 shares during the last quarter. 97.13% of the stock is owned by hedge funds and other institutional investors.

About Gentherm

Gentherm Incorporated designs, develops, manufactures, and sells thermal management and pneumatic comfort technologies in the United States and internationally. The company operates in two segments, Automotive and Medical. The Automotive segment offers climate comfort systems, which include seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats and steering wheel heaters that are designed to provide thermal comfort to automobile passengers; integrated electronic components, such as electronic control units; and other climate comfort systems, including neck and shoulder conditioners and climate control system products for door panels, armrests, cupholders, and storage bins.