Gentex Co. Expected to Post FY2024 Earnings of $2.10 Per Share (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX - Free Report) - Equities research analysts at Seaport Res Ptn lowered their FY2024 earnings per share (EPS) estimates for Gentex in a research note issued to investors on Sunday, April 28th. Seaport Res Ptn analyst G. Chin now anticipates that the auto parts company will post earnings of $2.10 per share for the year, down from their prior forecast of $2.34. The consensus estimate for Gentex's current full-year earnings is $2.17 per share.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). Gentex had a net margin of 18.77% and a return on equity of 19.19%. The company had revenue of $590.23 million during the quarter, compared to analyst estimates of $600.38 million. During the same quarter last year, the business earned $0.42 EPS. The company's revenue for the quarter was up 7.2% compared to the same quarter last year.

A number of other brokerages have also commented on GNTX. The Goldman Sachs Group raised their price objective on Gentex from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Monday, January 29th. JPMorgan Chase & Co. raised their price objective on Gentex from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, January 25th. B. Riley raised their price objective on Gentex from $42.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, March 20th. Guggenheim lifted their price target on Gentex from $40.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, April 17th. Finally, StockNews.com lowered Gentex from a "buy" rating to a "hold" rating in a report on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $37.83.

Gentex Stock Performance

Shares of NASDAQ:GNTX traded down $0.34 during midday trading on Wednesday, reaching $33.96. The company had a trading volume of 1,578,881 shares, compared to its average volume of 1,439,082. Gentex has a 1-year low of $25.86 and a 1-year high of $37.58. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99. The company has a fifty day simple moving average of $35.63 and a two-hundred day simple moving average of $33.15.

Institutional Trading of Gentex

Institutional investors have recently bought and sold shares of the stock. Synovus Financial Corp boosted its stake in Gentex by 1.7% in the third quarter. Synovus Financial Corp now owns 20,068 shares of the auto parts company's stock worth $653,000 after purchasing an additional 333 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Gentex by 0.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 50,311 shares of the auto parts company's stock worth $1,643,000 after purchasing an additional 336 shares in the last quarter. GAMMA Investing LLC boosted its stake in Gentex by 26.3% in the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company's stock worth $63,000 after purchasing an additional 363 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Gentex by 0.5% in the fourth quarter. Eagle Asset Management Inc. now owns 69,808 shares of the auto parts company's stock worth $2,280,000 after purchasing an additional 373 shares in the last quarter. Finally, Lincoln National Corp increased its holdings in Gentex by 2.3% in the third quarter. Lincoln National Corp now owns 17,940 shares of the auto parts company's stock valued at $584,000 after purchasing an additional 411 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Insider Activity

In other news, CFO Kevin C. Nash sold 13,500 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the sale, the chief financial officer now directly owns 44,321 shares in the company, valued at $1,464,365.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Richard O. Schaum sold 6,022 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total value of $204,326.46. Following the sale, the director now owns 62,555 shares of the company's stock, valued at approximately $2,122,491.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin C. Nash sold 13,500 shares of the business's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the sale, the chief financial officer now directly owns 44,321 shares in the company, valued at approximately $1,464,365.84. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex's dividend payout ratio is presently 25.40%.

Gentex Company Profile

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, Republic of Korea, 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.