Gates Industrial (NYSE:GTES) Issues FY 2025 Earnings Guidance

Gates Industrial (NYSE:GTES - Get Free Report) updated its FY 2025 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.360-1.520 for the period, compared to the consensus estimate of 1.410. The company issued revenue guidance of $3.4 billion-$3.6 billion, compared to the consensus revenue estimate of $3.4 billion.

Wall Street Analysts Forecast Growth

GTES has been the subject of several recent analyst reports. Citigroup decreased their target price on Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a research note on Monday, April 14th. KeyCorp increased their target price on shares of Gates Industrial from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Thursday. Royal Bank of Canada boosted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Thursday. Evercore ISI lifted their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley dropped their price target on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.78.

Gates Industrial Stock Performance

Gates Industrial stock traded up $0.77 during mid-day trading on Friday, reaching $19.82. 3,046,953 shares of the company were exchanged, compared to its average volume of 2,973,273. The firm has a market cap of $5.11 billion, a PE ratio of 27.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The firm's 50-day simple moving average is $18.55 and its two-hundred day simple moving average is $20.13. Gates Industrial has a twelve month low of $14.70 and a twelve month high of $23.85.

Gates Industrial (NYSE:GTES - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. The company had revenue of $847.60 million during the quarter, compared to analysts' expectations of $823.56 million. During the same quarter last year, the business earned $0.31 EPS. The business's revenue was down 1.7% on a year-over-year basis. Equities analysts predict that Gates Industrial will post 1.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Fredrik J. Eliasson bought 60,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $19.56 per share, for a total transaction of $1,173,600.00. Following the transaction, the director now owns 188,452 shares of the company's stock, valued at approximately $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by insiders.

About Gates Industrial

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.