Equities analysts forecast that Gentex (NASDAQ:GNTX) will report $474.28 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Gentex’s earnings, with the highest sales estimate coming in at $488.50 million and the lowest estimate coming in at $465.33 million. Gentex posted sales of $453.54 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.6%. The company is scheduled to issue its next earnings results before the market opens on Friday, April 20th.
According to Zacks, analysts expect that Gentex will report full-year sales of $1.93 billion for the current year, with estimates ranging from $1.93 billion to $1.95 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.07 billion per share, with estimates ranging from $2.04 billion to $2.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Gentex.
Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, January 26th. The auto parts company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $459.57 million for the quarter, compared to analyst estimates of $449.43 million. Gentex had a net margin of 22.66% and a return on equity of 18.35%. Gentex’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS.
GNTX has been the subject of several research analyst reports. BidaskClub raised shares of Gentex from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. BMO Capital Markets lifted their target price on shares of Gentex to $28.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Zacks Investment Research raised shares of Gentex from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Tuesday, December 26th. Longbow Research initiated coverage on shares of Gentex in a report on Friday, January 5th. They set a “buy” rating and a $25.00 target price for the company. Finally, ValuEngine raised shares of Gentex from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $25.33.
In other Gentex news, General Counsel Scott P. Ryan sold 7,220 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $23.66, for a total value of $170,825.20. Following the completion of the sale, the general counsel now owns 21,329 shares of the company’s stock, valued at approximately $504,644.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Fred Bauer sold 946,200 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $23.33, for a total transaction of $22,074,846.00. The disclosure for this sale can be found here. Insiders sold a total of 974,354 shares of company stock valued at $22,734,583 in the last three months. Insiders own 0.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Hikari Power Ltd bought a new stake in Gentex in the 4th quarter valued at about $203,000. Essex Financial Services Inc. bought a new stake in Gentex in the 4th quarter valued at about $205,000. Weatherly Asset Management L. P. bought a new stake in Gentex in the 4th quarter valued at about $236,000. Uncommon Cents Investing LLC bought a new stake in Gentex in the 4th quarter valued at about $243,000. Finally, BB&T Corp bought a new stake in shares of Gentex during the 4th quarter worth approximately $277,000. 84.40% of the stock is owned by hedge funds and other institutional investors.
Shares of GNTX stock traded down $0.09 during midday trading on Friday, hitting $24.17. 2,145,316 shares of the company were exchanged, compared to its average volume of 2,366,216. The company has a market capitalization of $6,662.38, a price-to-earnings ratio of 18.88, a PEG ratio of 1.56 and a beta of 1.27. Gentex has a 52 week low of $16.59 and a 52 week high of $24.60.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Friday, April 6th will be issued a dividend of $0.11 per share. This is an increase from Gentex’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $0.44 annualized dividend and a dividend yield of 1.82%. Gentex’s payout ratio is presently 34.38%.
Gentex announced that its board has initiated a share buyback plan on Friday, March 9th that allows the company to repurchase 20,000,000 shares. This repurchase authorization allows the auto parts company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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Gentex Company Profile
Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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