What is B. Riley's Forecast for Gentex FY2024 Earnings?

Gentex Co. (NASDAQ:GNTX - Free Report) - Analysts at B. Riley decreased their FY2024 EPS estimates for Gentex in a research note issued to investors on Monday, October 28th. B. Riley analyst J. Nichols now anticipates that the auto parts company will earn $1.82 per share for the year, down from their previous forecast of $1.92. B. Riley currently has a "Buy" rating and a $41.00 target price on the stock. The consensus estimate for Gentex's current full-year earnings is $1.94 per share. B. Riley also issued estimates for Gentex's Q4 2024 earnings at $0.45 EPS and FY2025 earnings at $1.97 EPS.

Several other research analysts also recently weighed in on GNTX. Robert W. Baird upped their target price on shares of Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research note on Monday. The Goldman Sachs Group decreased their target price on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their target price on shares of Gentex from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, July 22nd. StockNews.com downgraded shares of Gentex from a "buy" rating to a "hold" rating in a research note on Thursday, July 4th. Finally, UBS Group began coverage on shares of Gentex in a research note on Wednesday, September 4th. They set a "neutral" rating and a $34.00 price objective on the stock. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $36.00.

Gentex Stock Performance

Shares of GNTX stock traded up $0.04 on Tuesday, hitting $31.34. The stock had a trading volume of 1,436,079 shares, compared to its average volume of 1,461,295. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 0.91 and a beta of 0.92. The stock's 50 day moving average is $29.95 and its 200-day moving average is $32.15. Gentex has a 52-week low of $27.86 and a 52-week high of $37.58.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share 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%.

Institutional Trading of Gentex

A number of large investors have recently modified their holdings of GNTX. Quest Partners LLC acquired a new stake in shares of Gentex in the 2nd quarter worth about $31,000. Gladius Capital Management LP acquired a new stake in shares of Gentex in the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC increased its stake in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company's stock valued at $42,000 after buying an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company's stock valued at $54,000 after buying an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new position in Gentex during the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Insider Transactions at Gentex

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of Gentex stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company's stock.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.53%. Gentex's payout ratio is currently 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.