Generac Holdings Inc. (NYSE:GNRC) Expected to Earn Q1 2024 Earnings of $0.83 Per Share

Generac Holdings Inc. (NYSE:GNRC - Free Report) - Stock analysts at Northland Capmk reduced their Q1 2024 earnings per share (EPS) estimates for shares of Generac in a research report issued on Tuesday, April 2nd. Northland Capmk analyst D. Schafer now forecasts that the technology company will post earnings of $0.83 per share for the quarter, down from their previous forecast of $1.01. The consensus estimate for Generac's current full-year earnings is $6.32 per share. Northland Capmk also issued estimates for Generac's FY2024 earnings at $6.48 EPS.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $2.07 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.02). Generac had a return on equity of 14.15% and a net margin of 5.33%. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter last year, the firm posted $1.78 earnings per share. Generac's quarterly revenue was up 1.4% on a year-over-year basis.

Several other research analysts have also recently weighed in on the company. Guggenheim cut Generac from a "buy" rating to a "neutral" rating in a report on Thursday, February 15th. Robert W. Baird boosted their target price on Generac from $112.00 to $129.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. Citigroup boosted their target price on Generac from $124.00 to $128.00 and gave the stock a "neutral" rating in a report on Monday, February 12th. OTR Global upgraded Generac from a "mixed" rating to a "positive" rating in a report on Tuesday. Finally, TD Cowen decreased their price objective on Generac from $165.00 to $144.00 and set an "outperform" rating on the stock in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $139.79.

Generac Price Performance

NYSE:GNRC traded up $0.04 during trading hours on Wednesday, hitting $128.19. 850,333 shares of the stock were exchanged, compared to its average volume of 995,386. Generac has a 52-week low of $79.86 and a 52-week high of $156.95. The firm's fifty day moving average price is $117.52 and its 200 day moving average price is $113.78. The company has a current ratio of 2.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The company has a market cap of $7.73 billion, a P/E ratio of 38.96, a P/E/G ratio of 2.02 and a beta of 1.45.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $126.94, for a total transaction of $634,700.00. Following the completion of the sale, the chief executive officer now owns 592,177 shares in the company, valued at $75,170,948.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On Generac

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairfield Bush & CO. increased its holdings in shares of Generac by 83.2% in the first quarter. Fairfield Bush & CO. now owns 7,102 shares of the technology company's stock valued at $2,111,000 after purchasing an additional 3,225 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Generac by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,442 shares of the technology company's stock worth $2,509,000 after acquiring an additional 523 shares during the period. Prudential PLC acquired a new position in Generac during the first quarter worth $441,000. National Pension Service grew its holdings in Generac by 12.8% during the first quarter. National Pension Service now owns 98,555 shares of the technology company's stock worth $29,296,000 after acquiring an additional 11,158 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Generac by 2.0% during the first quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company's stock worth $2,012,595,000 after acquiring an additional 130,854 shares during the period. Hedge funds and other institutional investors own 84.04% of the company's stock.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.