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NYSE:GTES

Gates Industrial - GTES Stock Forecast, Price & News

$12.20
+0.42 (+3.57%)
(As of 08/10/2022 03:59 PM ET)
Add
Compare
Today's Range
$11.93
$12.28
50-Day Range
$10.58
$13.17
52-Week Range
$10.37
$18.32
Volume
24,223 shs
Average Volume
839,272 shs
Market Capitalization
$3.54 billion
P/E Ratio
16.71
Dividend Yield
N/A
Price Target
$15.13

Gates Industrial MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.50 Rating Score
Upside/​Downside
23.8% Upside
$15.13 Price Target
Short Interest
Healthy
1.67% of Float Sold Short
Dividend Strength
N/A
Sustainability
-2.33
Upright™ Environmental Score
News Sentiment
0.37mentions of Gates Industrial in the last 14 days
Based on 13 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
16.13%
From $0.93 to $1.08 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.37 out of 5 stars

Construction Sector

17th out of 107 stocks

General Industrial Machinery & Equipment Industry

3rd out of 9 stocks

GTES stock logo

About Gates Industrial (NYSE:GTES) Stock

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.

Analyst Ratings Changes

A number of brokerages have issued reports on GTES. TheStreet lowered shares of Gates Industrial from a "b-" rating to a "c" rating in a report on Wednesday, May 4th. Morgan Stanley cut their target price on shares of Gates Industrial from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, May 31st. Credit Suisse Group set a $13.00 target price on shares of Gates Industrial in a report on Tuesday, July 19th. Barclays cut their target price on shares of Gates Industrial from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Friday, July 8th. Finally, The Goldman Sachs Group cut their target price on shares of Gates Industrial from $17.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, June 23rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $15.13.

Gates Industrial Trading Up 3.8 %

GTES traded up $0.45 during trading on Wednesday, reaching $12.23. The company had a trading volume of 12,145 shares, compared to its average volume of 839,272. The stock has a market cap of $3.55 billion, a P/E ratio of 16.14 and a beta of 1.60. The business has a 50 day simple moving average of $11.57 and a 200-day simple moving average of $13.35. Gates Industrial has a 52 week low of $10.37 and a 52 week high of $18.32. The company has a quick ratio of 1.89, a current ratio of 2.80 and a debt-to-equity ratio of 0.79.

Gates Industrial (NYSE:GTES - Get Rating) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The company had revenue of $906.80 million during the quarter, compared to the consensus estimate of $918.39 million. Gates Industrial had a return on equity of 9.71% and a net margin of 6.24%. Gates Industrial's revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. On average, equities analysts anticipate that Gates Industrial will post 0.93 EPS for the current fiscal year.

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GTES Stock News Headlines

What 7 Analyst Ratings Have To Say About Gates Industrial Corp
Gates Industrial (GTES) Tops Q2 Earnings Estimates
Gates Industrial Reports Second-Quarter 2022 Results
TSX Flies out of Gate
Gates Industrial: Buying On A Confirmed Bottom
See More Headlines
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GTES Company Calendar

Last Earnings
8/05/2022
Today
8/10/2022
Next Earnings (Estimated)
11/14/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
General industrial machinery & equipment
Sub-Industry
N/A
Fax
N/A
Employees
15,050
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$15.13
High Stock Price Forecast
$23.00
Low Stock Price Forecast
$13.00
Forecasted Upside/Downside
+24.0%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.50
Research Coverage
9 Analysts

Profitability

Net Income
$297.10 million
Pretax Margin
8.30%

Debt

Sales & Book Value

Annual Sales
$3.47 billion
Cash Flow
$2.21 per share
Book Value
$12.00 per share

Miscellaneous

Free Float
N/A
Market Cap
$3.54 billion
Optionable
Optionable
Beta
1.60

Key Executives

  • David L. Calhoun (Age 60)
    Chairman of the Board
  • Ivo Jurek (Age 53)
    Chief Executive Officer, Director
  • David H. Naemura (Age 48)
    Chief Financial Officer
  • Walter T. Lifsey (Age 59)
    Chief Operating Officer
  • Jamey S. Seely (Age 46)
    Executive Vice President, General Counsel, Corporate Secretary
  • Roger C. Gaston (Age 61)
    Executive Vice President of Human Resources
  • Gregory F. Kirchhoff (Age 59)
    Senior Vice President - Corporate Controller
  • John C. Plant (Age 64)
    Director
  • Julia C. Kahr (Age 39)
    Independent Director
  • Terry A. Klebe (Age 62)
    Independent Director













GTES Stock - Frequently Asked Questions

Should I buy or sell Gates Industrial stock right now?

9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Gates Industrial in the last twelve months. There are currently 4 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" GTES shares.
View GTES analyst ratings
or view top-rated stocks.

What is Gates Industrial's stock price forecast for 2022?

9 analysts have issued 12-month price targets for Gates Industrial's stock. Their GTES share price forecasts range from $13.00 to $23.00. On average, they expect the company's share price to reach $15.13 in the next twelve months. This suggests a possible upside of 23.5% from the stock's current price.
View analysts price targets for GTES
or view top-rated stocks among Wall Street analysts.

How have GTES shares performed in 2022?

Gates Industrial's stock was trading at $15.91 at the beginning of 2022. Since then, GTES shares have decreased by 23.0% and is now trading at $12.25.
View the best growth stocks for 2022 here
.

Are investors shorting Gates Industrial?

Gates Industrial saw a increase in short interest in June. As of June 30th, there was short interest totaling 1,980,000 shares, an increase of 29.4% from the June 15th total of 1,530,000 shares. Based on an average trading volume of 882,800 shares, the short-interest ratio is currently 2.2 days. Approximately 1.8% of the company's stock are sold short.
View Gates Industrial's Short Interest
.

When is Gates Industrial's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, November 14th 2022.
View our GTES earnings forecast
.

How were Gates Industrial's earnings last quarter?

Gates Industrial Corp PLC (NYSE:GTES) released its quarterly earnings data on Friday, August, 5th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The business had revenue of $906.80 million for the quarter, compared to analysts' expectations of $918.39 million. Gates Industrial had a trailing twelve-month return on equity of 9.71% and a net margin of 6.24%. Gates Industrial's quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS.

What guidance has Gates Industrial issued on next quarter's earnings?

Gates Industrial issued an update on its FY 2022 earnings guidance on Friday, August, 5th. The company provided earnings per share guidance of $1.15-$1.25 for the period, compared to the consensus estimate of $1.21. The company issued revenue guidance of $3.60 billion-$3.70 billion, compared to the consensus revenue estimate of $3.60 billion.

What is Ivo Jurek's approval rating as Gates Industrial's CEO?

108 employees have rated Gates Industrial Chief Executive Officer Ivo Jurek on Glassdoor.com. Ivo Jurek has an approval rating of 54% among the company's employees. This puts Ivo Jurek in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Gates Industrial own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Gates Industrial investors own include NVIDIA (NVDA), Micron Technology (MU), Advanced Micro Devices (AMD), Alibaba Group (BABA), Bristol-Myers Squibb (BMY), B2Gold (BTG), Novavax (NVAX), Intel (INTC), Pure Storage (PSTG) and Boeing (BA).

When did Gates Industrial IPO?

(GTES) raised $751 million in an IPO on Thursday, January 25th 2018. The company issued 38,500,000 shares at a price of $18.00-$21.00 per share. Citigroup, Morgan Stanley and UBS Investment Bank acted as the underwriters for the IPO and Barclays, Credit Suisse, Goldman Sachs, RBC Capital Markets, Blackstone Capital Markets, Deutsche Bank Securities, Wells Fargo Securities Current Capital Securities, KeyBanc Capital Markets, Siebert Cisneros Shank, SunTrust Robinson Humphrey, Academy Securities, BTIG and Guggenheim Securities were co-managers.

What is Gates Industrial's stock symbol?

Gates Industrial trades on the New York Stock Exchange (NYSE) under the ticker symbol "GTES."

Who are Gates Industrial's major shareholders?

Gates Industrial's stock is owned by a variety of retail and institutional investors. Top institutional investors include Allspring Global Investments Holdings LLC (3.31%), Cooke & Bieler LP (2.34%), Paradice Investment Management LLC (0.00%), Lazard Asset Management LLC (0.00%), Jennison Associates LLC (0.00%) and Handelsbanken Fonder AB (0.00%). Insiders that own company stock include Aggregator (Cayman) LP Omaha, Blackstone Group Inc, Blackstone Inc and Ivo Jurek.
View institutional ownership trends
.

How do I buy shares of Gates Industrial?

Shares of GTES stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Gates Industrial's stock price today?

One share of GTES stock can currently be purchased for approximately $12.25.

How much money does Gates Industrial make?

Gates Industrial (NYSE:GTES) has a market capitalization of $3.55 billion and generates $3.47 billion in revenue each year. The company earns $297.10 million in net income (profit) each year or $0.73 on an earnings per share basis.

How many employees does Gates Industrial have?

The company employs 15,050 workers across the globe.

How can I contact Gates Industrial?

Gates Industrial's mailing address is 1144 FIFTEENTH STREET, DENVER CO, 80202. The official website for the company is www.gates.com. The company can be reached via phone at 303-744-1911 or via email at investorrelations@gates.com.

This page (NYSE:GTES) was last updated on 8/10/2022 by MarketBeat.com Staff

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