Gates Industrial - GTES Stock Forecast, Price & News

8 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Gates Industrial in the last year. There are currently 5 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" GTES shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GTES, but not buy additional shares or sell existing shares.
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8 analysts have issued 12-month target prices for Gates Industrial's shares. Their GTES share price forecasts range from $13.00 to $15.00. On average, they expect the company's stock price to reach $13.94 in the next year. This suggests a possible upside of 40.4% from the stock's current price.
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Gates Industrial's stock was trading at $15.91 at the beginning of 2022. Since then, GTES stock has decreased by 37.6% and is now trading at $9.93.
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Gates Industrial saw a increase in short interest during the month of August. As of August 31st, there was short interest totaling 2,170,000 shares, an increase of 13.6% from the August 15th total of 1,910,000 shares. Based on an average daily trading volume, of 622,700 shares, the days-to-cover ratio is currently 3.5 days. Approximately 2.0% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Monday, November 14th 2022.
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Gates Industrial Corp PLC (NYSE:GTES) issued its earnings results on Friday, August, 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.11. The firm had revenue of $906.80 million for the quarter, compared to the consensus estimate of $918.39 million. Gates Industrial had a net margin of 6.24% and a trailing twelve-month return on equity of 9.79%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share.

Gates Industrial issued an update on its FY 2022 earnings guidance on Friday, September, 2nd. The company provided EPS guidance of $1.15-$1.25 for the period, compared to the consensus EPS 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.

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.

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).

(GTES) raised $751 million in an initial public offering 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.

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

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.
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One share of GTES stock can currently be purchased for approximately $9.93.

Gates Industrial (NYSE:GTES) has a market capitalization of $2.80 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.

The company employs 15,050 workers across the globe.

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.