Equities Analysts Issue Forecasts for GIC FY2024 Earnings

Global Industrial (NYSE:GIC - Free Report) - William Blair dropped their FY2024 earnings estimates for shares of Global Industrial in a report released on Thursday, January 2nd. William Blair analyst R. Merkel now expects that the company will post earnings of $1.57 per share for the year, down from their previous estimate of $1.63. The consensus estimate for Global Industrial's current full-year earnings is $1.62 per share. William Blair also issued estimates for Global Industrial's Q4 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.33 EPS and FY2026 earnings at $1.84 EPS.

Global Industrial (NYSE:GIC - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.14). The firm had revenue of $342.40 million during the quarter, compared to the consensus estimate of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same quarter last year, the firm earned $0.54 earnings per share.

Global Industrial Stock Performance

Shares of GIC stock traded up $0.20 on Friday, hitting $24.16. The company's stock had a trading volume of 61,948 shares, compared to its average volume of 78,643. Global Industrial has a fifty-two week low of $23.93 and a fifty-two week high of $46.97. The company has a market capitalization of $923.64 million, a PE ratio of 14.21, a PEG ratio of 1.04 and a beta of 0.86. The stock's 50 day moving average is $27.40 and its 200-day moving average is $30.93.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 4.14%. Global Industrial's dividend payout ratio is presently 58.82%.

Insider Activity

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total value of $165,155.20. Following the completion of the transaction, the insider now owns 23,675 shares of the company's stock, valued at $669,529. The trade was a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 65.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Global Industrial

Several hedge funds have recently bought and sold shares of GIC. Copeland Capital Management LLC acquired a new stake in shares of Global Industrial during the 3rd quarter worth approximately $61,000. Point72 Asset Management L.P. increased its stake in shares of Global Industrial by 173.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company's stock valued at $111,000 after purchasing an additional 2,249 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Global Industrial by 41.8% during the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company's stock worth $153,000 after buying an additional 1,472 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Global Industrial by 12.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company's stock worth $252,000 after buying an additional 919 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Global Industrial during the 2nd quarter worth $268,000. 31.19% of the stock is owned by institutional investors.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.