Gentex Co. (NASDAQ:GNTX) – Equities researchers at Jefferies Financial Group decreased their Q1 2022 earnings estimates for Gentex in a research report issued to clients and investors on Monday, September 20th. Jefferies Financial Group analyst D. Kelley now forecasts that the auto parts company will post earnings of $0.43 per share for the quarter, down from their prior forecast of $0.53. Jefferies Financial Group also issued estimates for Gentex’s Q2 2022 earnings at $0.44 EPS, Q3 2022 earnings at $0.48 EPS and Q4 2022 earnings at $0.55 EPS.
A number of other brokerages have also recently weighed in on GNTX. Zacks Investment Research upgraded Gentex from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a research note on Tuesday, July 27th. KeyCorp reduced their price objective on Gentex from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 26th. Seaport Global Securities upgraded Gentex from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Monday, July 26th. Seaport Res Ptn upgraded Gentex from a “neutral” rating to a “buy” rating in a research note on Monday, July 26th. Finally, B. Riley restated a “buy” rating and set a $32.25 price target (down previously from $45.00) on shares of Gentex in a research note on Monday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $31.53.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Thursday, July 22nd. The auto parts company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.07). Gentex had a net margin of 24.03% and a return on equity of 23.80%. The firm had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $458.02 million. During the same quarter in the prior year, the firm posted $0.02 EPS. Gentex’s quarterly revenue was up 86.2% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 21st. Investors of record on Friday, October 8th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, October 7th. Gentex’s dividend payout ratio is presently 34.04%.
In related news, Director John A. Mulder sold 7,000 shares of the company’s stock in a transaction on Tuesday, July 27th. The stock was sold at an average price of $32.65, for a total transaction of $228,550.00. Following the transaction, the director now owns 41,365 shares of the company’s stock, valued at $1,350,567.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GNTX. Concord Wealth Partners acquired a new stake in Gentex in the first quarter valued at $49,000. Van ECK Associates Corp acquired a new stake in Gentex in the first quarter valued at $54,000. Geneos Wealth Management Inc. acquired a new stake in Gentex in the first quarter valued at $57,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Gentex in the second quarter valued at $72,000. Finally, First Mercantile Trust Co. acquired a new stake in shares of Gentex during the second quarter valued at $76,000. 81.67% of the stock is currently owned by institutional investors.
Gentex Corp. is a technology company, which engages in the design, development, and manufacture and supply of digital vision, connected car, dimmable glass, and fire protection products. The firm operates through Automotive Products and Other segments. The Automotive Products segment operates in virtually all of the foregoing facilities.
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