Gentex Co. to Post FY2024 Earnings of $2.10 Per Share, Seaport Res Ptn Forecasts (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) – Seaport Res Ptn lowered their FY2024 earnings per share estimates for shares of Gentex in a research report issued on Sunday, April 28th. Seaport Res Ptn analyst G. Chin now forecasts that the auto parts company will earn $2.10 per share for the year, down from their prior estimate of $2.34. The consensus estimate for Gentex’s current full-year earnings is $2.17 per share.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Gentex had a return on equity of 19.19% and a net margin of 18.77%. The company had revenue of $590.23 million during the quarter, compared to analyst estimates of $600.38 million. During the same period in the previous year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis.

Several other brokerages also recently commented on GNTX. The Goldman Sachs Group raised their price objective on Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Monday. Guggenheim raised their price objective on Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. B. Riley raised their price objective on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. raised their price objective on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $37.83.

Gentex Stock Performance

Shares of GNTX opened at $34.30 on Wednesday. Gentex has a 52 week low of $25.86 and a 52 week high of $37.58. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 0.73 and a beta of 0.99. The business’s fifty day moving average price is $35.65 and its two-hundred day moving average price is $33.15.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, April 4th. Gentex’s payout ratio is 25.40%.

Insider Activity

In other news, Director Richard O. Schaum sold 6,022 shares of the company’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 value of $204,326.46. Following the transaction, the director now owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Richard O. Schaum sold 6,022 shares of the 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 sale, the director now owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 44,321 shares in the company, valued at approximately $1,464,365.84. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gentex

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNTX. Neo Ivy Capital Management bought a new stake in Gentex during the fourth quarter worth $29,000. National Bank of Canada FI lifted its stake in Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after purchasing an additional 571 shares during the last quarter. VisionPoint Advisory Group LLC lifted its stake in shares of Gentex by 123.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after acquiring an additional 665 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Gentex in the 4th quarter valued at $46,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Gentex by 371.3% in the 4th quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock valued at $89,000 after acquiring an additional 2,157 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

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.