$484.61 Million in Sales Expected for Gentex Co. (GNTX) This Quarter
Equities research analysts predict that Gentex Co. (NASDAQ:GNTX) will announce $484.61 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Gentex’s earnings, with estimates ranging from $476.29 million to $504.56 million. Gentex posted sales of $459.57 million during the same quarter last year, which suggests a positive year over year growth rate of 5.4%. The company is scheduled to announce its next earnings report on Friday, January 25th.
According to Zacks, analysts expect that Gentex will report full-year sales of $1.87 billion for the current fiscal year, with estimates ranging from $1.86 billion to $1.89 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.99 billion, with estimates ranging from $1.97 billion to $2.01 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Gentex.
Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, October 19th. The auto parts company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $460.25 million for the quarter, compared to analysts’ expectations of $465.51 million. Gentex had a net margin of 25.11% and a return on equity of 21.83%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share.
Shares of NASDAQ GNTX traded up $0.22 during midday trading on Friday, reaching $21.09. 1,615,100 shares of the company were exchanged, compared to its average volume of 2,249,600. The stock has a market cap of $5.51 billion, a PE ratio of 16.48, a PEG ratio of 1.13 and a beta of 1.13. Gentex has a one year low of $17.80 and a one year high of $25.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Wednesday, January 9th will be paid a $0.11 dividend. The ex-dividend date is Tuesday, January 8th. This represents a $0.44 annualized dividend and a dividend yield of 2.09%. Gentex’s dividend payout ratio is 34.38%.
In related news, CFO Kevin C. Nash sold 6,000 shares of the business’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $21.50, for a total value of $129,000.00. Following the sale, the chief financial officer now owns 32,732 shares of the company’s stock, valued at $703,738. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders purchased 1,155 shares of company stock worth $23,237. 0.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GNTX. FMR LLC boosted its position in Gentex by 22.6% during the second quarter. FMR LLC now owns 10,889,141 shares of the auto parts company’s stock valued at $250,668,000 after acquiring an additional 2,008,953 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Gentex by 24.5% during the third quarter. Bank of New York Mellon Corp now owns 4,966,771 shares of the auto parts company’s stock valued at $106,585,000 after acquiring an additional 976,219 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Gentex by 7,214.5% during the second quarter. Glenmede Trust Co. NA now owns 983,868 shares of the auto parts company’s stock valued at $22,649,000 after acquiring an additional 970,417 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Gentex by 5,326.5% during the second quarter. Advisors Asset Management Inc. now owns 958,757 shares of the auto parts company’s stock valued at $1,354,000 after acquiring an additional 941,089 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Gentex by 42.2% during the second quarter. Wells Fargo & Company MN now owns 2,712,561 shares of the auto parts company’s stock valued at $62,442,000 after acquiring an additional 804,911 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.
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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