Zacks: Brokerages Anticipate Gentex Co. (NASDAQ:GNTX) Will Post Quarterly Sales of $472.24 Million

Wall Street analysts expect that Gentex Co. (NASDAQ:GNTXGet Rating) will announce $472.24 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Gentex’s earnings, with the lowest sales estimate coming in at $463.69 million and the highest estimate coming in at $476.75 million. Gentex posted sales of $428.01 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.3%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Gentex will report full year sales of $1.93 billion for the current fiscal year, with estimates ranging from $1.92 billion to $1.95 billion. For the next fiscal year, analysts expect that the company will post sales of $2.27 billion, with estimates ranging from $2.22 billion to $2.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Gentex.

Gentex (NASDAQ:GNTXGet Rating) last announced its quarterly earnings results on Friday, April 22nd. The auto parts company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $468.50 million for the quarter, compared to analysts’ expectations of $432.40 million. Gentex had a return on equity of 17.46% and a net margin of 19.52%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS.

Several research firms have recently weighed in on GNTX. Zacks Investment Research raised Gentex from a “sell” rating to a “hold” rating and set a $31.00 price objective for the company in a research note on Wednesday, April 27th. StockNews.com assumed coverage on Gentex in a report on Thursday, March 31st. They set a “hold” rating on the stock. The Goldman Sachs Group decreased their target price on Gentex from $28.00 to $25.00 and set a “sell” rating on the stock in a research report on Tuesday, March 22nd. BNP Paribas started coverage on Gentex in a research report on Monday, April 11th. They set an “outperform” rating on the stock. Finally, Exane BNP Paribas started coverage on Gentex in a research note on Monday, April 11th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $33.38.

Shares of NASDAQ GNTX opened at $30.38 on Thursday. The stock has a fifty day moving average price of $28.85 and a two-hundred day moving average price of $32.40. The firm has a market cap of $7.14 billion, a P/E ratio of 21.70, a PEG ratio of 1.57 and a beta of 0.89. Gentex has a 1 year low of $27.06 and a 1 year high of $37.90.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 20th. Stockholders of record on Friday, April 8th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, April 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. Gentex’s dividend payout ratio is 34.29%.

In other news, VP Matthew Chiodo sold 14,931 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $30.36, for a total transaction of $453,305.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Neil Boehm sold 4,500 shares of the firm’s stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $29.24, for a total transaction of $131,580.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 170,354 shares of company stock valued at $5,206,731. Company insiders own 0.16% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. lifted its position in Gentex by 1.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 149,220 shares of the auto parts company’s stock worth $3,086,000 after acquiring an additional 2,536 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Gentex by 94.5% during the third quarter. Van ECK Associates Corp now owns 6,622 shares of the auto parts company’s stock worth $219,000 after purchasing an additional 3,217 shares during the period. Advisory Services Network LLC increased its holdings in shares of Gentex by 33.1% during the third quarter. Advisory Services Network LLC now owns 9,070 shares of the auto parts company’s stock worth $299,000 after purchasing an additional 2,256 shares during the period. Sprucegrove Investment Management Ltd. bought a new position in Gentex in the third quarter valued at approximately $44,543,000. Finally, Toronto Dominion Bank bought a new position in Gentex in the third quarter valued at approximately $759,000. Institutional investors and hedge funds own 86.24% of the company’s stock.

Gentex Company Profile (Get Rating)

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, 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.

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Earnings History and Estimates for Gentex (NASDAQ:GNTX)

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