Global Industrial (NYSE:GIC) to Post Q2 2024 Earnings of $0.48 Per Share, Sidoti Csr Forecasts

Global Industrial (NYSE:GIC) – Investment analysts at Sidoti Csr dropped their Q2 2024 earnings per share estimates for shares of Global Industrial in a research note issued to investors on Wednesday, May 1st. Sidoti Csr analyst A. Lebiedzinski now forecasts that the company will post earnings of $0.48 per share for the quarter, down from their previous forecast of $0.57. The consensus estimate for Global Industrial’s current full-year earnings is $2.03 per share. Sidoti Csr also issued estimates for Global Industrial’s Q3 2024 earnings at $0.60 EPS, Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $1.90 EPS, Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.60 EPS and FY2025 earnings at $2.35 EPS.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $320.10 million during the quarter, compared to the consensus estimate of $313.50 million. Global Industrial had a return on equity of 28.85% and a net margin of 5.34%.

Global Industrial Stock Down 10.4 %

Shares of NYSE:GIC opened at $34.51 on Thursday. The company has a market capitalization of $1.32 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.19 and a beta of 0.92. The stock’s fifty day simple moving average is $43.51 and its 200-day simple moving average is $39.96. Global Industrial has a 52-week low of $20.52 and a 52-week high of $46.97.

Global Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 2.90%. Global Industrial’s dividend payout ratio (DPR) is presently 54.35%.

Insiders Place Their Bets

In related news, Vice Chairman Bruce Leeds sold 380,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $41.15, for a total transaction of $15,637,000.00. Following the completion of the transaction, the insider now owns 139,800 shares of the company’s stock, valued at $5,752,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 66.34% of the company’s stock.

Institutional Investors Weigh In On Global Industrial

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of Global Industrial in the third quarter valued at $102,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Global Industrial by 178.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company’s stock valued at $178,000 after buying an additional 3,402 shares during the last quarter. Strs Ohio acquired a new stake in shares of Global Industrial during the third quarter valued at about $616,000. Panagora Asset Management Inc. increased its position in shares of Global Industrial by 43.0% during the third quarter. Panagora Asset Management Inc. now owns 51,668 shares of the company’s stock worth $1,731,000 after acquiring an additional 15,527 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Global Industrial during the 3rd quarter worth approximately $543,000. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.