Zacks: Analysts Anticipate Gentex Co. (GNTX) Will Announce Quarterly Sales of $478.10 Million

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Wall Street brokerages expect that Gentex Co. (NASDAQ:GNTX) will report $478.10 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Gentex’s earnings. The lowest sales estimate is $470.70 million and the highest is $484.17 million. Gentex reported sales of $438.63 million during the same quarter last year, which indicates a positive year over year growth rate of 9%. The business is expected to announce its next earnings report on Friday, October 19th.

On average, analysts expect that Gentex will report full year sales of $1.90 billion for the current fiscal year, with estimates ranging from $1.89 billion to $1.90 billion. For the next financial year, analysts forecast that the business will report sales of $2.05 billion per share, with estimates ranging from $2.02 billion to $2.10 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Gentex.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 20th. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). Gentex had a return on equity of 20.27% and a net margin of 24.25%. The firm had revenue of $454.98 million for the quarter, compared to analyst estimates of $469.10 million. During the same quarter last year, the business posted $0.31 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year.

A number of analysts recently issued reports on GNTX shares. BidaskClub upgraded shares of Gentex from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 22nd. Zacks Investment Research lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. ValuEngine lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Longbow Research restated a “buy” rating and set a $28.00 target price on shares of Gentex in a research report on Monday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Gentex currently has a consensus rating of “Hold” and a consensus price target of $25.60.

Shares of NASDAQ GNTX opened at $22.91 on Friday. Gentex has a 1 year low of $18.51 and a 1 year high of $25.41. The company has a market cap of $6.22 billion, a P/E ratio of 16.07, a PEG ratio of 1.27 and a beta of 1.34.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, October 4th. Gentex’s dividend payout ratio is currently 34.38%.

In related news, Director Richard O. Schaum purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were bought at an average price of $22.99 per share, with a total value of $114,950.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Gentex by 1.1% during the second quarter. BlackRock Inc. now owns 24,291,053 shares of the auto parts company’s stock worth $559,180,000 after purchasing an additional 258,850 shares during the period. FMR LLC raised its stake in Gentex by 22.6% during the second quarter. FMR LLC now owns 10,889,141 shares of the auto parts company’s stock worth $250,668,000 after purchasing an additional 2,008,953 shares during the period. Dimensional Fund Advisors LP raised its stake in Gentex by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,378,685 shares of the auto parts company’s stock worth $123,817,000 after purchasing an additional 178,256 shares during the period. Bank of New York Mellon Corp raised its stake in Gentex by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 3,990,552 shares of the auto parts company’s stock worth $91,861,000 after purchasing an additional 56,538 shares during the period. Finally, Millennium Management LLC raised its stake in Gentex by 87.0% during the first quarter. Millennium Management LLC now owns 3,394,226 shares of the auto parts company’s stock worth $78,135,000 after purchasing an additional 1,579,436 shares during the period. 85.85% of the stock is currently owned by institutional investors.

About Gentex

Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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