Global Industrial (NYSE:GIC) Announces Quarterly Earnings Results

Global Industrial (NYSE:GIC) posted its earnings results on Tuesday. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54, FiscalAI reports. The business had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $377.40 million. Global Industrial had a net margin of 5.33% and a return on equity of 23.53%.

Global Industrial Stock Up 2.2%

Shares of Global Industrial stock traded up $0.81 during trading hours on Tuesday, reaching $37.24. 151,174 shares of the stock traded hands, compared to its average volume of 105,024. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 1.18 and a beta of 0.75. The company has a 50 day moving average price of $33.02 and a 200 day moving average price of $32.08. Global Industrial has a one year low of $26.40 and a one year high of $38.79.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GIC shares. Weiss Ratings raised shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. Wall Street Zen cut shares of Global Industrial from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC purchased a new position in shares of Global Industrial during the 3rd quarter valued at about $5,329,000. Barclays PLC increased its holdings in Global Industrial by 164.7% in the 3rd quarter. Barclays PLC now owns 101,921 shares of the company’s stock worth $3,737,000 after acquiring an additional 63,414 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Global Industrial by 41.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 196,347 shares of the company’s stock worth $5,737,000 after acquiring an additional 57,426 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Global Industrial during the 3rd quarter worth approximately $1,384,000. Finally, First Trust Advisors LP purchased a new position in Global Industrial during the fourth quarter valued at approximately $1,099,000. 31.19% of the stock is currently owned by institutional investors.

About Global Industrial

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.