Global Industrial (NYSE:GIC) Issues Earnings Results, Beats Expectations By $0.03 EPS

Global Industrial (NYSE:GIC) issued its quarterly earnings results on Tuesday. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03, Zacks reports. Global Industrial had a return on equity of 22.85% and a net margin of 5.11%.The firm had revenue of $345.60 million for the quarter, compared to analyst estimates of $324.86 million.

Global Industrial Trading Down 0.1%

Shares of GIC traded down $0.04 on Tuesday, reaching $30.89. 93,089 shares of the company’s stock were exchanged, compared to its average volume of 87,864. The stock has a market capitalization of $1.19 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.01 and a beta of 0.90. The business has a 50 day moving average price of $30.94 and a two-hundred day moving average price of $32.31. Global Industrial has a 12 month low of $20.79 and a 12 month high of $38.79.

Analysts Set New Price Targets

A number of research analysts recently commented on GIC shares. Zacks Research upgraded Global Industrial from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Institutional Investors Weigh In On Global Industrial

A number of institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in Global Industrial by 234.9% during the 4th quarter. Advisors Asset Management Inc. now owns 2,502 shares of the company’s stock worth $73,000 after acquiring an additional 1,755 shares during the last quarter. State of Wyoming bought a new stake in Global Industrial in the 2nd quarter valued at approximately $117,000. Martingale Asset Management L P bought a new position in Global Industrial in the fourth quarter valued at $214,000. Russell Investments Group Ltd. raised its holdings in Global Industrial by 16.3% during the second quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company’s stock worth $215,000 after acquiring an additional 1,120 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Global Industrial in the 2nd quarter valued at approximately $231,000. 31.19% of the stock is owned by institutional investors and hedge funds.

Global Industrial Company Profile

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.