Equities analysts expect that Gentex (NASDAQ:GNTX) will announce $0.41 earnings per share for the current quarter, according to Zacks. Four analysts have issued estimates for Gentex’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.37. Gentex reported earnings of $0.31 per share in the same quarter last year, which suggests a positive year over year growth rate of 32.3%. The firm is scheduled to issue its next earnings results on Friday, July 20th.
According to Zacks, analysts expect that Gentex will report full year earnings of $1.70 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.75. For the next fiscal year, analysts expect that the company will post earnings of $1.90 per share, with EPS estimates ranging from $1.89 to $1.93. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Gentex.
Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, April 20th. The auto parts company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $465.42 million during the quarter, compared to the consensus estimate of $478.06 million. Gentex had a net margin of 23.27% and a return on equity of 19.05%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share.
A number of brokerages recently commented on GNTX. B. Riley reiterated a “buy” rating and set a $29.00 target price (up previously from $25.00) on shares of Gentex in a research note on Wednesday, January 24th. Robert W. Baird downgraded shares of Gentex from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 23rd. Susquehanna Bancshares set a $24.00 price objective on shares of Gentex and gave the company a “hold” rating in a research note on Wednesday, March 14th. Longbow Research restated a “buy” rating and issued a $28.00 price objective on shares of Gentex in a research note on Monday, April 23rd. Finally, Craig Hallum upped their price objective on shares of Gentex from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $25.60.
Shares of Gentex opened at $23.21 on Wednesday, MarketBeat reports. The firm has a market cap of $6.35 billion, a P/E ratio of 18.13, a PEG ratio of 1.05 and a beta of 1.25. Gentex has a 12 month low of $22.92 and a 12 month high of $23.26.
Gentex announced that its Board of Directors has authorized a stock repurchase program on Friday, March 9th that allows the company to buyback 20,000,000 shares. This buyback authorization allows the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 18th. Stockholders of record on Friday, April 6th were paid a dividend of $0.11 per share. This is an increase from Gentex’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, April 5th. This represents a $0.44 annualized dividend and a dividend yield of 1.90%. Gentex’s dividend payout ratio is 34.38%.
In other news, Chairman Fred Bauer sold 946,200 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $23.33, for a total transaction of $22,074,846.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick A. Sotok sold 4,000 shares of the stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $22.92, for a total transaction of $91,680.00. Following the sale, the director now owns 31,696 shares of the company’s stock, valued at approximately $726,472.32. The disclosure for this sale can be found here. Insiders have sold 951,260 shares of company stock valued at $22,190,387 in the last quarter. Insiders own 0.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in GNTX. Raymond James & Associates raised its holdings in Gentex by 6.7% during the fourth quarter. Raymond James & Associates now owns 127,639 shares of the auto parts company’s stock worth $2,674,000 after purchasing an additional 7,982 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Gentex by 111.1% during the fourth quarter. Renaissance Technologies LLC now owns 900,200 shares of the auto parts company’s stock worth $18,859,000 after purchasing an additional 473,700 shares in the last quarter. Uncommon Cents Investing LLC purchased a new position in Gentex during the fourth quarter worth about $243,000. Palo Capital Inc. raised its holdings in Gentex by 16.9% during the fourth quarter. Palo Capital Inc. now owns 179,178 shares of the auto parts company’s stock worth $3,754,000 after purchasing an additional 25,868 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Gentex by 19.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,106 shares of the auto parts company’s stock worth $568,000 after purchasing an additional 4,425 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.
Gentex Company Profile
Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features 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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