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.