Wall Street analysts forecast that Generac Holdings Inc. (NYSE:GNRC) will report sales of $494.65 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Generac’s earnings. The lowest sales estimate is $485.20 million and the highest is $506.00 million. Generac posted sales of $457.25 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.2%. The firm is scheduled to announce its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Generac will report full-year sales of $1.90 billion for the current fiscal year, with estimates ranging from $1.89 billion to $1.91 billion. For the next financial year, analysts expect that the company will report sales of $1.93 billion, with estimates ranging from $1.79 billion to $2.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Generac.
Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, August 1st. The technology company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.20. Generac had a return on equity of 46.62% and a net margin of 11.18%. The business had revenue of $494.90 million during the quarter, compared to analysts’ expectations of $448.41 million. During the same quarter last year, the company posted $0.69 earnings per share. Generac’s quarterly revenue was up 25.3% on a year-over-year basis.
GNRC has been the subject of a number of research analyst reports. Zacks Investment Research cut Generac from a “buy” rating to a “hold” rating in a report on Thursday, July 5th. KeyCorp lifted their price target on Generac from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, September 13th. Robert W. Baird restated a “hold” rating and set a $54.00 price objective on shares of Generac in a research report on Friday, July 20th. Canaccord Genuity set a $54.00 price objective on shares of Generac and gave the stock a “hold” rating in a research report on Tuesday, July 24th. Finally, Goldman Sachs Group downgraded shares of Generac from a “neutral” rating to a “sell” rating and set a $49.00 price objective for the company. in a research report on Monday, July 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $56.23.
In other news, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $51.34, for a total value of $1,026,800.00. Following the completion of the sale, the chief executive officer now directly owns 883,571 shares in the company, valued at $45,362,535.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Russell S. Minick sold 9,000 shares of Generac stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $54.86, for a total transaction of $493,740.00. Following the completion of the sale, the insider now owns 16,353 shares of the company’s stock, valued at $897,125.58. The disclosure for this sale can be found here. Insiders have sold 114,150 shares of company stock valued at $6,294,548 over the last 90 days. Company insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. acquired a new stake in shares of Generac in the first quarter valued at approximately $212,000. Strs Ohio raised its position in shares of Generac by 30.0% in the second quarter. Strs Ohio now owns 5,200 shares of the technology company’s stock valued at $268,000 after buying an additional 1,200 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Generac in the first quarter valued at approximately $242,000. Lido Advisors LLC acquired a new stake in shares of Generac in the second quarter valued at approximately $301,000. Finally, grace capital acquired a new stake in shares of Generac in the second quarter valued at approximately $325,000. Institutional investors own 97.74% of the company’s stock.
Generac stock opened at $57.17 on Thursday. Generac has a 52 week low of $42.96 and a 52 week high of $60.70. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.94 and a quick ratio of 0.94. The stock has a market cap of $3.61 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45.
Generac Company Profile
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.
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