Gentex Co. (NASDAQ:GNTX) Forecasted to Earn Q3 2022 Earnings of $0.38 Per Share

Gentex Co. (NASDAQ:GNTXGet Rating) – Equities research analysts at Jefferies Financial Group decreased their Q3 2022 earnings per share estimates for shares of Gentex in a research report issued to clients and investors on Monday, July 25th. Jefferies Financial Group analyst D. Kelley now forecasts that the auto parts company will earn $0.38 per share for the quarter, down from their prior estimate of $0.45. The consensus estimate for Gentex’s current full-year earnings is $1.57 per share. Jefferies Financial Group also issued estimates for Gentex’s Q4 2022 earnings at $0.42 EPS and FY2022 earnings at $1.47 EPS.

A number of other equities analysts have also recently commented on GNTX. StockNews.com initiated coverage on Gentex in a report on Thursday, March 31st. They set a “hold” rating for the company. B. Riley lowered their price objective on shares of Gentex from $37.50 to $35.00 and set a “buy” rating for the company in a research report on Monday. TheStreet downgraded shares of Gentex from a “b-” rating to a “c” rating in a research report on Friday, July 22nd. The Goldman Sachs Group decreased their target price on shares of Gentex from $26.00 to $25.00 in a research note on Wednesday, June 1st. Finally, Guggenheim reduced their price objective on shares of Gentex to $33.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Gentex presently has a consensus rating of “Hold” and a consensus target price of $32.00.

Gentex Stock Performance

Gentex stock opened at $28.11 on Wednesday. Gentex has a 52 week low of $26.16 and a 52 week high of $37.90. The stock has a market capitalization of $6.59 billion, a P/E ratio of 20.82, a PEG ratio of 1.52 and a beta of 0.91. The stock has a 50-day simple moving average of $28.88 and a 200 day simple moving average of $29.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GNTX. Russell Investments Group Ltd. grew its position in shares of Gentex by 15.7% during the 4th quarter. Russell Investments Group Ltd. now owns 134,262 shares of the auto parts company’s stock valued at $4,677,000 after acquiring an additional 18,182 shares during the period. National Bank of Canada FI purchased a new stake in Gentex in the 4th quarter worth approximately $30,000. Van ECK Associates Corp lifted its stake in Gentex by 8.1% in the 4th quarter. Van ECK Associates Corp now owns 7,157 shares of the auto parts company’s stock worth $250,000 after purchasing an additional 535 shares in the last quarter. Brown Advisory Inc. lifted its stake in Gentex by 8,895.7% in the 4th quarter. Brown Advisory Inc. now owns 926,732 shares of the auto parts company’s stock worth $32,297,000 after purchasing an additional 916,430 shares in the last quarter. Finally, Marshall Financial Group LLC lifted its stake in Gentex by 21.9% in the 4th quarter. Marshall Financial Group LLC now owns 25,945 shares of the auto parts company’s stock worth $904,000 after purchasing an additional 4,662 shares in the last quarter. 86.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Gentex news, Director Gary F. Goode sold 2,845 shares of the company’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $30.17, for a total value of $85,833.65. Following the completion of the sale, the director now directly owns 27,861 shares of the company’s stock, valued at approximately $840,566.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 20th. Investors of record on Friday, July 8th were issued a $0.12 dividend. The ex-dividend date was Thursday, July 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.71%. Gentex’s dividend payout ratio is presently 35.56%.

Gentex Company Profile

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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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