B. Riley Predicts Gentex's Q3 Earnings (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX - Free Report) - Stock analysts at B. Riley reduced their Q3 2024 EPS estimates for shares of Gentex in a research report issued on Thursday, October 17th. B. Riley analyst J. Nichols now expects that the auto parts company will post earnings per share of $0.52 for the quarter, down from their previous estimate of $0.53. B. Riley has a "Buy" rating and a $41.00 price objective on the stock. The consensus estimate for Gentex's current full-year earnings is $1.96 per share. B. Riley also issued estimates for Gentex's FY2024 earnings at $1.92 EPS and FY2025 earnings at $2.22 EPS.

Other research analysts also recently issued reports about the stock. BNP Paribas downgraded shares of Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 target price for the company. in a research report on Tuesday, July 30th. Bank of America reduced their target price on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday. StockNews.com downgraded shares of Gentex from a "buy" rating to a "hold" rating in a report on Thursday, July 4th. UBS Group initiated coverage on shares of Gentex in a report on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 price objective for the company. Finally, Robert W. Baird cut their price objective on shares of Gentex from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $36.13.

Gentex Price Performance

Shares of Gentex stock traded up $0.23 on Friday, reaching $29.92. 964,891 shares of the company traded hands, compared to its average volume of 1,448,822. Gentex has a 52 week low of $27.86 and a 52 week high of $37.58. The company has a 50 day moving average of $29.83 and a 200 day moving average of $32.48. The firm has a market capitalization of $6.92 billion, a PE ratio of 15.71, a PEG ratio of 0.95 and a beta of 0.92.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). The firm had revenue of $572.93 million during the quarter, compared to analysts' expectations of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%.

Hedge Funds Weigh In On Gentex

Several institutional investors have recently modified their holdings of GNTX. Vanguard Group Inc. increased its position in shares of Gentex by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company's stock valued at $727,688,000 after purchasing an additional 163,373 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Gentex by 129.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company's stock worth $3,652,000 after acquiring an additional 63,152 shares during the last quarter. GAMMA Investing LLC grew its position in Gentex by 26.3% during the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company's stock worth $63,000 after acquiring an additional 363 shares during the last quarter. Ballentine Partners LLC bought a new position in Gentex during the 1st quarter worth approximately $212,000. Finally, Financial Enhancement Group LLC grew its position in Gentex by 0.5% during the 1st quarter. Financial Enhancement Group LLC now owns 126,831 shares of the auto parts company's stock worth $4,344,000 after acquiring an additional 629 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares in the company, valued at $32,319,040. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.41% of the company's stock.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.60%. The ex-dividend date is Wednesday, October 9th. Gentex's dividend payout ratio is presently 25.40%.

Gentex Company Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.