Q2 2024 EPS Estimates for Gentex Co. Cut by B. Riley (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) – Investment analysts at B. Riley lowered their Q2 2024 EPS estimates for Gentex in a research note issued on Monday, April 29th. B. Riley analyst J. Nichols now expects that the auto parts company will post earnings of $0.50 per share for the quarter, down from their previous forecast of $0.51. B. Riley currently has a “Buy” rating and a $44.00 target price on the stock. The consensus estimate for Gentex’s current full-year earnings is $2.17 per share. B. Riley also issued estimates for Gentex’s FY2024 earnings at $2.05 EPS and FY2025 earnings at $2.33 EPS.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Gentex had a net margin of 18.77% and a return on equity of 19.19%. The company had revenue of $590.23 million for the quarter, compared to analysts’ expectations of $600.38 million. During the same period in the previous year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis.

Several other analysts have also issued reports on GNTX. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group boosted their target price on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, Guggenheim boosted their target price on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.83.

Gentex Trading Down 1.0 %

Shares of NASDAQ GNTX opened at $33.96 on Tuesday. The firm has a 50 day moving average of $35.63 and a 200 day moving average of $33.15. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99. Gentex has a 12-month low of $25.86 and a 12-month high of $37.58.

Hedge Funds Weigh In On Gentex

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its position in shares of Gentex by 15.7% during the first quarter. Janney Montgomery Scott LLC now owns 411,535 shares of the auto parts company’s stock worth $14,865,000 after acquiring an additional 55,748 shares during the last quarter. Private Advisor Group LLC raised its stake in Gentex by 3.7% during the first quarter. Private Advisor Group LLC now owns 19,768 shares of the auto parts company’s stock valued at $714,000 after purchasing an additional 704 shares in the last quarter. JLB & Associates Inc. raised its stake in Gentex by 1.7% during the first quarter. JLB & Associates Inc. now owns 24,381 shares of the auto parts company’s stock valued at $881,000 after purchasing an additional 416 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Gentex by 351.9% during the first quarter. Commonwealth Equity Services LLC now owns 225,136 shares of the auto parts company’s stock valued at $8,132,000 after purchasing an additional 175,313 shares in the last quarter. Finally, Greenleaf Trust raised its stake in Gentex by 61.7% during the first quarter. Greenleaf Trust now owns 15,309 shares of the auto parts company’s stock valued at $553,000 after purchasing an additional 5,843 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Insiders Place Their Bets

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the transaction, the chief financial officer now directly owns 44,321 shares in the company, valued at $1,464,365.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. Gentex’s payout ratio is currently 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.