Gates Industrial (GTES) Stock Price, News & Analysis

6 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Gates Industrial in the last year. There are currently 2 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" GTES shares.
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6 equities research analysts have issued 1-year price targets for Gates Industrial's stock. Their GTES share price targets range from $14.00 to $21.00. On average, they expect the company's share price to reach $18.00 in the next year. This suggests a possible upside of 4.2% from the stock's current price.
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Gates Industrial's stock was trading at $13.42 at the beginning of 2024. Since then, GTES shares have increased by 28.7% and is now trading at $17.27.
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Gates Industrial saw a increase in short interest in March. As of March 31st, there was short interest totaling 7,780,000 shares, an increase of 7.3% from the March 15th total of 7,250,000 shares. Based on an average daily volume of 3,000,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 4.1% of the company's stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 1st 2024.
View our GTES earnings forecast.

Gates Industrial will be holding an earnings conference call on Wednesday, May 1st at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 647-362-9199 with passcode "5772067".

Gates Industrial Corp PLC (NYSE:GTES) released its quarterly earnings data on Thursday, February, 8th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.10. The business had revenue of $863.30 million for the quarter, compared to the consensus estimate of $892.40 million. Gates Industrial had a net margin of 6.52% and a trailing twelve-month return on equity of 10.14%.

Invesco FTSE RAFI US 1500 Small-Mid ETF holds 281,427 shares of GTES stock, representing 0.21% of its portfolio.

Gates Industrial issued an update on its first quarter 2024 earnings guidance on Saturday, March, 30th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $860.0 million-$875.0 million, compared to the consensus revenue estimate of $867.3 million.

108 employees have rated Gates Industrial Chief Executive Officer Ivo Jurek on Glassdoor.com. Ivo Jurek has an approval rating of 54% among the company's employees. This puts Ivo Jurek in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Gates Industrial investors own include NVIDIA (NVDA), Micron Technology (MU), Advanced Micro Devices (AMD), Alibaba Group (BABA), Bristol-Myers Squibb (BMY), B2Gold (BTG), Novavax (NVAX), Intel (INTC), Pure Storage (PSTG) and Boeing (BA).

Gates Industrial (GTES) raised $751 million in an initial public offering (IPO) on Thursday, January 25th 2018. The company issued 38,500,000 shares at a price of $18.00-$21.00 per share. Citigroup, Morgan Stanley and UBS Investment Bank served as the underwriters for the IPO and Barclays, Credit Suisse, Goldman Sachs, RBC Capital Markets, Blackstone Capital Markets, Deutsche Bank Securities, Wells Fargo Securities Current Capital Securities, KeyBanc Capital Markets, Siebert Cisneros Shank, SunTrust Robinson Humphrey, Academy Securities, BTIG and Guggenheim Securities were co-managers.

Gates Industrial's stock is owned by a number of retail and institutional investors. Top institutional shareholders include Confluence Investment Management LLC (0.61%), Alaska Permanent Fund Corp (0.06%) and Hennion & Walsh Asset Management Inc. (0.01%). Insiders that own company stock include Aggregator (Cayman) LP Omaha, Blackstone Inc, Fredrik J Eliasson, Ivo Jurek, Neil P Simpkins and Wilson S Neely.
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Shares of GTES stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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