Q2 2024 EPS Estimates for Gentex Co. Reduced by Analyst (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) – B. Riley reduced their Q2 2024 earnings per share (EPS) estimates for shares of Gentex in a research note issued on Monday, April 29th. B. Riley analyst J. Nichols now anticipates that the auto parts company will earn $0.50 per share for the quarter, down from their prior estimate of $0.51. B. Riley has a “Buy” rating and a $44.00 price target on the stock. The consensus estimate for Gentex’s current full-year earnings is $2.17 per share. B. Riley also issued estimates for Gentex’s FY2024 earnings at $2.05 EPS and FY2025 earnings at $2.33 EPS.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Gentex had a net margin of 18.77% and a return on equity of 19.19%. The business had revenue of $590.23 million during the quarter, compared to the consensus estimate of $600.38 million. During the same period in the prior year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group increased their price target on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Guggenheim raised their price target on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. upped their price objective on Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Gentex has a consensus rating of “Hold” and an average price target of $37.83.

Gentex Trading Up 0.4 %

Shares of GNTX opened at $34.86 on Tuesday. The stock has a 50 day moving average of $35.67 and a 200 day moving average of $33.13. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 0.73 and a beta of 0.99. Gentex has a 12 month low of $25.86 and a 12 month high of $37.58.

Hedge Funds Weigh In On Gentex

Institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new position in Gentex during the 4th quarter valued at about $29,000. National Bank of Canada FI grew its stake in shares of Gentex by 159.1% in the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after buying an additional 571 shares during the last quarter. VisionPoint Advisory Group LLC increased its position in Gentex by 123.6% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after buying an additional 665 shares in the last quarter. GAMMA Investing LLC purchased a new position in Gentex during the fourth quarter valued at $46,000. Finally, Global Retirement Partners LLC boosted its holdings in Gentex by 371.3% in the fourth quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock worth $89,000 after acquiring an additional 2,157 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Insider Transactions at Gentex

In related news, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the transaction, the director now directly owns 62,555 shares in the company, valued at approximately $2,122,491.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Kevin C. Nash sold 13,500 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the sale, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard O. Schaum sold 6,022 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the transaction, the director now directly owns 62,555 shares in the company, valued at $2,122,491.15. The disclosure for this sale can be found here. Company 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, April 17th. Shareholders of record on Friday, April 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, April 4th. 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.