Global Industrial (NYSE:GIC) Announces Earnings Results

Global Industrial (NYSE:GIC) announced its quarterly earnings data on Tuesday. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54, FiscalAI reports. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $377.40 million. Global Industrial had a return on equity of 23.53% and a net margin of 5.33%.

Global Industrial Price Performance

Shares of Global Industrial stock traded up $0.81 on Tuesday, reaching $37.24. 151,174 shares of the company traded hands, compared to its average volume of 105,024. The firm has a market capitalization of $1.42 billion, a PE ratio of 19.29, a PEG ratio of 1.18 and a beta of 0.75. The company has a 50 day moving average of $33.02 and a 200 day moving average of $32.08. Global Industrial has a 52 week low of $26.40 and a 52 week high of $38.79.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GIC. Weiss Ratings raised Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Wall Street Zen lowered Global Industrial from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Global Industrial

Several large investors have recently modified their holdings of GIC. Polymer Capital Management US LLC boosted its holdings in shares of Global Industrial by 11.5% in the fourth quarter. Polymer Capital Management US LLC now owns 11,641 shares of the company’s stock worth $340,000 after acquiring an additional 1,201 shares during the period. Graham Capital Management L.P. boosted its holdings in Global Industrial by 52.6% in the 4th quarter. Graham Capital Management L.P. now owns 9,361 shares of the company’s stock valued at $274,000 after purchasing an additional 3,228 shares during the period. Aquatic Capital Management LLC raised its position in shares of Global Industrial by 16.5% in the third quarter. Aquatic Capital Management LLC now owns 8,596 shares of the company’s stock worth $315,000 after buying an additional 1,218 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in Global Industrial in the 2nd quarter worth about $295,000. Finally, Quantinno Capital Management LP boosted its position in shares of Global Industrial by 35.5% during the 2nd quarter. Quantinno Capital Management LP now owns 13,303 shares of the company’s stock valued at $359,000 after acquiring an additional 3,483 shares during the last quarter. Hedge funds and other institutional investors own 31.19% of the company’s stock.

About Global Industrial

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.