Gentex Co. Plans Quarterly Dividend of $0.12 (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Wednesday, April 9th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, April 23rd. This represents a $0.48 annualized dividend and a dividend yield of 1.97%.

Gentex has a dividend payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gentex to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.3%.

Gentex Stock Down 0.8 %

Shares of Gentex stock opened at $24.32 on Friday. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.84 and a beta of 0.91. Gentex has a 52-week low of $24.10 and a 52-week high of $37.58. The company’s 50-day simple moving average is $26.80 and its 200-day simple moving average is $28.92.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period in the previous year, the company earned $0.50 EPS. Equities research analysts anticipate that Gentex will post 2.04 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on GNTX. B. Riley restated a “buy” rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Robert W. Baird set a $31.00 price objective on shares of Gentex in a report on Monday, February 3rd. UBS Group dropped their target price on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Guggenheim dropped their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.31.

About Gentex

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.