Generac Holdings Inc. (NYSE:GNRC) Expected to Announce Earnings of $2.66 Per Share

Posted by on Jun 8th, 2022

Wall Street brokerages expect that Generac Holdings Inc. (NYSE:GNRC – Get Rating) will report earnings per share of $2.66 for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Generac’s earnings. The highest EPS estimate is $2.78 and the lowest is $2.46. Generac posted earnings per share of $2.39 in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.3%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Generac will report full year earnings of $11.72 per share for the current year, with EPS estimates ranging from $10.55 to $12.23. For the next financial year, analysts anticipate that the business will report earnings of $14.18 per share, with EPS estimates ranging from $12.35 to $16.09. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Generac.

Generac (NYSE:GNRC – Get Rating) last announced its earnings results on Wednesday, May 4th. The technology company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.92 by $0.17. Generac had a net margin of 12.68% and a return on equity of 30.22%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm earned $2.38 earnings per share. The business’s revenue for the quarter was up 40.7% on a year-over-year basis.

GNRC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Generac from a “sell” rating to a “hold” rating and set a $318.00 price objective on the stock in a research note on Friday, February 18th. Canaccord Genuity Group cut their price target on shares of Generac from $575.00 to $556.00 and set a “buy” rating on the stock in a report on Thursday, February 17th. Citigroup boosted their target price on shares of Generac from $375.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, February 17th. StockNews.com assumed coverage on shares of Generac in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Roth Capital decreased their target price on shares of Generac from $555.00 to $320.00 and set a “buy” rating for the company in a research report on Tuesday, May 24th. Three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Generac presently has an average rating of “Buy” and an average target price of $440.36.

NYSE:GNRC traded up $1.37 during mid-day trading on Wednesday, reaching $294.15. The stock had a trading volume of 20,578 shares, compared to its average volume of 1,091,264. The stock has a 50-day simple moving average of $252.19 and a two-hundred day simple moving average of $299.26. The stock has a market capitalization of $18.78 billion, a PE ratio of 38.96, a P/E/G ratio of 2.43 and a beta of 1.14. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 0.71. Generac has a 12 month low of $197.94 and a 12 month high of $524.31.

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $218.70, for a total transaction of $1,093,500.00. Following the sale, the chief executive officer now directly owns 625,975 shares in the company, valued at approximately $136,900,732.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky lifted its stake in Generac by 310.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 26,904 shares of the technology company’s stock worth $7,997,000 after purchasing an additional 20,354 shares in the last quarter. Ninety One UK Ltd lifted its stake in Generac by 16.3% in the 1st quarter. Ninety One UK Ltd now owns 816,331 shares of the technology company’s stock worth $242,663,000 after purchasing an additional 114,527 shares in the last quarter. Sawtooth Solutions LLC purchased a new stake in Generac in the 1st quarter worth approximately $333,000. Toroso Investments LLC lifted its stake in Generac by 16.1% in the 1st quarter. Toroso Investments LLC now owns 1,716 shares of the technology company’s stock worth $510,000 after purchasing an additional 238 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in Generac by 33.3% in the 1st quarter. Golden State Wealth Management LLC now owns 6,017 shares of the technology company’s stock worth $1,789,000 after purchasing an additional 1,502 shares in the last quarter. Institutional investors and hedge funds own 88.35% of the company’s stock.

About Generac (Get Rating)

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.

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