William Blair Cuts Earnings Estimates for Global Industrial

Global Industrial (NYSE:GIC) – Research analysts at William Blair reduced their Q4 2024 earnings estimates for Global Industrial in a research note issued to investors on Tuesday, October 29th. William Blair analyst R. Merkel now forecasts that the company will post earnings per share of $0.32 for the quarter, down from their prior forecast of $0.40. The consensus estimate for Global Industrial’s current full-year earnings is $1.94 per share. William Blair also issued estimates for Global Industrial’s Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.58 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.44 EPS, FY2025 earnings at $1.94 EPS and FY2026 earnings at $2.12 EPS.

Global Industrial Price Performance

NYSE:GIC opened at $26.55 on Thursday. The company has a market cap of $1.01 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.08 and a beta of 0.83. Global Industrial has a 1 year low of $25.00 and a 1 year high of $46.97. The stock’s fifty day moving average price is $32.84 and its two-hundred day moving average price is $33.74.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC bought a new position in shares of Global Industrial in the third quarter valued at approximately $61,000. Point72 Asset Management L.P. lifted its stake in Global Industrial by 173.0% in the 2nd 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 in the last quarter. National Bank of Canada FI boosted its holdings in Global Industrial by 41.8% in the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after purchasing an additional 1,472 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Global Industrial by 12.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock valued at $252,000 after purchasing an additional 919 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Global Industrial in the second quarter worth $268,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 3.77%. Global Industrial’s dividend payout ratio is currently 58.82%.

About Global Industrial

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.