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NFLX   325.44 (+4.89%)
S&P 500   3,958.55 (-0.13%)
DOW   33,702.29 (-0.23%)
QQQ   284.37 (+0.18%)
AAPL   143.04 (+0.27%)
MSFT   246.31 (-0.44%)
META   115.49 (+0.14%)
GOOGL   93.95 (+0.26%)
AMZN   89.61 (-0.82%)
TSLA   180.66 (+4.16%)
NVDA   174.26 (+1.50%)
NIO   13.00 (-3.06%)
BABA   93.14 (-1.09%)
AMD   69.89 (-0.82%)
T   19.24 (+0.63%)
MU   55.43 (+0.42%)
CGC   3.10 (+0.32%)
F   13.27 (+1.14%)
GE   82.36 (-1.52%)
DIS   94.03 (+1.60%)
AMC   6.05 (-0.33%)
PYPL   74.11 (-0.15%)
PFE   52.01 (+0.44%)
NFLX   325.44 (+4.89%)
S&P 500   3,958.55 (-0.13%)
DOW   33,702.29 (-0.23%)
QQQ   284.37 (+0.18%)
AAPL   143.04 (+0.27%)
MSFT   246.31 (-0.44%)
META   115.49 (+0.14%)
GOOGL   93.95 (+0.26%)
AMZN   89.61 (-0.82%)
TSLA   180.66 (+4.16%)
NVDA   174.26 (+1.50%)
NIO   13.00 (-3.06%)
BABA   93.14 (-1.09%)
AMD   69.89 (-0.82%)
T   19.24 (+0.63%)
MU   55.43 (+0.42%)
CGC   3.10 (+0.32%)
F   13.27 (+1.14%)
GE   82.36 (-1.52%)
DIS   94.03 (+1.60%)
AMC   6.05 (-0.33%)
PYPL   74.11 (-0.15%)
PFE   52.01 (+0.44%)
NFLX   325.44 (+4.89%)
S&P 500   3,958.55 (-0.13%)
DOW   33,702.29 (-0.23%)
QQQ   284.37 (+0.18%)
AAPL   143.04 (+0.27%)
MSFT   246.31 (-0.44%)
META   115.49 (+0.14%)
GOOGL   93.95 (+0.26%)
AMZN   89.61 (-0.82%)
TSLA   180.66 (+4.16%)
NVDA   174.26 (+1.50%)
NIO   13.00 (-3.06%)
BABA   93.14 (-1.09%)
AMD   69.89 (-0.82%)
T   19.24 (+0.63%)
MU   55.43 (+0.42%)
CGC   3.10 (+0.32%)
F   13.27 (+1.14%)
GE   82.36 (-1.52%)
DIS   94.03 (+1.60%)
AMC   6.05 (-0.33%)
PYPL   74.11 (-0.15%)
PFE   52.01 (+0.44%)
NFLX   325.44 (+4.89%)

Gates Industrial (NYSE:GTES) Updates FY 2022 Earnings Guidance

Gates Industrial (NYSE:GTES - Get Rating) issued an update on its FY 2022 earnings guidance on Friday morning. The company provided earnings per share guidance of $1.07-$1.15 for the period, compared to the consensus earnings per share estimate of $1.20. The company issued revenue guidance of $3.58 billion-$3.67 billion, compared to the consensus revenue estimate of $3.56 billion.

Gates Industrial Trading Down 1.3 %

NYSE GTES opened at $11.52 on Friday. Gates Industrial has a one year low of $9.40 and a one year high of $16.99. The company's 50 day moving average price is $10.76 and its 200 day moving average price is $11.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.05 and a current ratio of 2.97. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 16.94 and a beta of 1.58.

Gates Industrial (NYSE:GTES - Get Rating) last issued its quarterly earnings data on Friday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. Gates Industrial had a net margin of 5.71% and a return on equity of 9.66%. The company had revenue of $860.70 million during the quarter, compared to the consensus estimate of $896.37 million. During the same quarter last year, the company earned $0.31 earnings per share. Gates Industrial's revenue for the quarter was down .2% on a year-over-year basis. On average, sell-side analysts predict that Gates Industrial will post 0.96 EPS for the current year.

Analyst Upgrades and Downgrades


Several analysts have issued reports on GTES shares. Barclays lowered their price objective on shares of Gates Industrial from $14.00 to $13.00 and set an equal weight rating for the company in a research report on Monday, October 3rd. The Goldman Sachs Group decreased their price target on shares of Gates Industrial from $15.00 to $13.00 and set a buy rating for the company in a research report on Friday, October 14th. Evercore ISI downgraded shares of Gates Industrial from an outperform rating to an in-line rating and decreased their price target for the stock from $15.00 to $13.50 in a research report on Thursday, August 11th. KeyCorp decreased their price target on shares of Gates Industrial from $15.00 to $13.00 and set an overweight rating for the company in a research report on Friday, October 14th. Finally, Credit Suisse Group raised their price target on shares of Gates Industrial from $13.00 to $14.00 and gave the stock a neutral rating in a research report on Monday, November 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $13.17.

Hedge Funds Weigh In On Gates Industrial

Several large investors have recently added to or reduced their stakes in GTES. Alpha Paradigm Partners LLC bought a new stake in Gates Industrial in the third quarter valued at $220,000. Balyasny Asset Management LLC bought a new stake in Gates Industrial in the third quarter valued at $322,000. Jane Street Group LLC bought a new stake in Gates Industrial in the third quarter valued at $860,000. BNP Paribas Arbitrage SNC lifted its stake in Gates Industrial by 134.5% in the third quarter. BNP Paribas Arbitrage SNC now owns 25,547 shares of the company's stock valued at $249,000 after buying an additional 14,654 shares during the last quarter. Finally, State Street Corp lifted its stake in Gates Industrial by 0.5% in the third quarter. State Street Corp now owns 1,427,424 shares of the company's stock valued at $13,932,000 after buying an additional 7,486 shares during the last quarter.

About Gates Industrial

(Get Rating)

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.

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