B. Riley Has Negative Estimate for Gentex Q3 Earnings

Gentex Co. (NASDAQ:GNTX) – B. Riley lowered their Q3 2024 earnings estimates for Gentex in a note issued to investors on Thursday, October 17th. B. Riley analyst J. Nichols now forecasts that the auto parts company will earn $0.52 per share for the quarter, down from their prior estimate of $0.53. 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 $1.96 per share. B. Riley also issued estimates for Gentex’s FY2024 earnings at $1.92 EPS and FY2025 earnings at $2.22 EPS.

A number of other brokerages also recently commented on GNTX. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Bank of America lowered their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. cut their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. UBS Group initiated coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, The Goldman Sachs Group cut their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.13.

Gentex Stock Up 0.8 %

Shares of NASDAQ GNTX opened at $29.92 on Friday. Gentex has a 52 week low of $27.86 and a 52 week high of $37.58. The firm has a market cap of $6.92 billion, a P/E ratio of 15.83, a P/E/G ratio of 0.95 and a beta of 0.92. The business’s 50 day moving average price is $29.85 and its 200 day moving average price is $32.41.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.15). The company had revenue of $572.93 million for the quarter, compared to the consensus estimate of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%.

Institutional Investors Weigh In On Gentex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in Gentex in the second quarter valued at about $31,000. Gladius Capital Management LP purchased a new stake in shares of Gentex in the 2nd quarter valued at $34,000. EverSource Wealth Advisors LLC lifted 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 worth $42,000 after acquiring an additional 850 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Gentex by 26.3% during the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 363 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Gentex by 227.8% in 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 acquiring an additional 1,269 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by company insiders.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.60%. Gentex’s dividend payout ratio (DPR) is presently 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.