Gates Industrial (NYSE:GTES - Get Free Report) announced its earnings results on Thursday. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.33, Zacks reports. Gates Industrial had a return on equity of 9.65% and a net margin of 5.72%.
Gates Industrial Stock Up 0.0 %
Shares of GTES stock traded up $0.01 on Monday, reaching $22.58. 2,963,672 shares of the stock were exchanged, compared to its average volume of 2,363,533. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 30.92 and a beta of 1.37. The business's 50 day moving average price is $21.02 and its 200 day moving average price is $19.34. The company has a current ratio of 3.02, a quick ratio of 2.11 and a debt-to-equity ratio of 0.70. Gates Industrial has a twelve month low of $12.41 and a twelve month high of $23.34.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on GTES shares. Jefferies Financial Group boosted their price objective on Gates Industrial from $23.00 to $26.00 and gave the company a "buy" rating in a report on Friday, December 6th. The Goldman Sachs Group increased their price target on shares of Gates Industrial from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Royal Bank of Canada raised their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the company an "outperform" rating in a research note on Friday. Citigroup cut their target price on shares of Gates Industrial from $27.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, Barclays raised shares of Gates Industrial from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $21.00 to $25.00 in a research report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.00.
View Our Latest Research Report on GTES
Gates Industrial Company Profile
(
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Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.
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