Global Industrial to Post FY2024 Earnings of $2.82 Per Share, William Blair Forecasts (NYSE:GIC)

Global Industrial (NYSE:GICGet Rating) – Equities researchers at William Blair issued their FY2024 earnings per share estimates for shares of Global Industrial in a research note issued to investors on Tuesday, May 3rd. William Blair analyst R. Merkel anticipates that the company will post earnings per share of $2.82 for the year.

Global Industrial (NYSE:GICGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.24. Global Industrial had a return on equity of 50.18% and a net margin of 9.72%. During the same period in the prior year, the business posted $0.14 earnings per share.

Separately, Zacks Investment Research raised Global Industrial from a “sell” rating to a “hold” rating in a research report on Thursday, March 10th.

GIC stock opened at $36.20 on Thursday. The business’s fifty day simple moving average is $32.31 and its two-hundred day simple moving average is $36.28. Global Industrial has a twelve month low of $28.35 and a twelve month high of $45.21. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 12.53 and a beta of 0.67.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 23rd. Stockholders of record on Monday, May 16th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, May 13th. Global Industrial’s dividend payout ratio (DPR) is presently 24.91%.

Several institutional investors and hedge funds have recently modified their holdings of GIC. Wasatch Advisors Inc. raised its holdings in shares of Global Industrial by 25.5% in the 3rd quarter. Wasatch Advisors Inc. now owns 275,948 shares of the company’s stock valued at $10,456,000 after buying an additional 56,064 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Global Industrial by 3.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 13,517 shares of the company’s stock valued at $553,000 after acquiring an additional 487 shares during the last quarter. LVZ Inc. boosted its position in shares of Global Industrial by 9.3% in the 4th quarter. LVZ Inc. now owns 8,926 shares of the company’s stock valued at $365,000 after purchasing an additional 756 shares during the period. Isthmus Partners LLC boosted its position in shares of Global Industrial by 0.9% in the 4th quarter. Isthmus Partners LLC now owns 49,049 shares of the company’s stock valued at $2,006,000 after purchasing an additional 427 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Global Industrial in the 4th quarter valued at about $91,000. Hedge funds and other institutional investors own 30.80% of the company’s stock.

About Global Industrial (Get Rating)

Global Industrial Company, through its subsidiaries, operates as a value-added industrial distributor of industrial and maintenance, repair, and operation (MRO) products in North America. The company offers industrial and MRO products under Global, GlobalIndustrial.com, Nexel, Paramount, and Interion trademarks.

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