William Blair Expects Weaker Earnings for Global Industrial

Global Industrial (NYSE:GIC) – Stock analysts at William Blair decreased their FY2024 EPS estimates for shares of Global Industrial in a report released on Thursday, January 2nd. William Blair analyst R. Merkel now anticipates that the company will earn $1.57 per share for the year, down from their prior forecast of $1.63. The consensus estimate for Global Industrial’s current full-year earnings is $1.62 per share. William Blair also issued estimates for Global Industrial’s Q4 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.33 EPS and FY2026 earnings at $1.84 EPS.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.14). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The company had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $353.44 million. During the same period in the prior year, the company earned $0.54 earnings per share.

Global Industrial Stock Up 0.8 %

NYSE GIC opened at $24.16 on Friday. The stock has a market capitalization of $923.64 million, a P/E ratio of 14.21, a P/E/G ratio of 1.04 and a beta of 0.86. Global Industrial has a 52-week low of $23.93 and a 52-week high of $46.97. The firm has a 50-day moving average price of $27.21 and a 200 day moving average price of $30.88.

Global Industrial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 4.14%. Global Industrial’s dividend payout ratio is currently 58.82%.

Insider Activity at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total value of $165,155.20. Following the sale, the insider now directly owns 23,675 shares in the company, valued at $669,529. This represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 65.30% of the company’s stock.

Institutional Trading of Global Industrial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC acquired a new stake in shares of Global Industrial during the third quarter worth $61,000. Point72 Asset Management L.P. increased its stake in shares of Global Industrial by 173.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock valued at $111,000 after acquiring an additional 2,249 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Global Industrial by 41.8% during the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after acquiring an additional 1,472 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of 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 during the last quarter. Finally, Quest Partners LLC purchased a new stake in Global Industrial in the second quarter valued at approximately $268,000. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

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.