William Blair Analysts Lower Earnings Estimates for Global Industrial (NYSE:GIC)

Global Industrial (NYSE:GIC) – Stock analysts at William Blair lowered their FY2024 earnings per share (EPS) estimates for Global Industrial in a report issued on Tuesday, October 8th. William Blair analyst R. Merkel now forecasts that the company will post earnings of $2.01 per share for the year, down from their prior estimate of $2.08. The consensus estimate for Global Industrial’s current full-year earnings is $1.97 per share. William Blair also issued estimates for Global Industrial’s Q1 2025 earnings at $0.34 EPS, Q2 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.47 EPS.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, July 30th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. The firm had revenue of $347.80 million for the quarter, compared to the consensus estimate of $348.84 million. During the same quarter in the previous year, the business earned $0.56 EPS.

Global Industrial Stock Performance

Shares of GIC opened at $32.18 on Thursday. Global Industrial has a one year low of $30.13 and a one year high of $46.97. The stock’s fifty day moving average is $32.70 and its 200-day moving average is $34.94. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.07 and a beta of 0.83.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its position in Global Industrial by 173.0% in the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after purchasing an additional 2,249 shares during the period. National Bank of Canada FI lifted its holdings in shares of Global Industrial by 41.8% in the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after buying an additional 1,472 shares during the period. Leeward Financial Partners LLC bought a new position in Global Industrial during the first quarter valued at about $224,000. Gallacher Capital Management LLC acquired a new position in Global Industrial during the first quarter worth about $324,000. Finally, The Manufacturers Life Insurance Company raised its position in Global Industrial by 12.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after acquiring an additional 919 shares in the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 3.11%. Global Industrial’s payout ratio is 54.35%.

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.