Generac Holdings Inc. (NYSE:GNRC) to Post Q1 2024 Earnings of $0.83 Per Share, Northland Capmk Forecasts

Generac Holdings Inc. (NYSE:GNRCFree Report) – Equities researchers at Northland Capmk lowered their Q1 2024 earnings estimates for shares of Generac in a research note issued on Tuesday, April 2nd. Northland Capmk analyst D. Schafer now anticipates that the technology company will earn $0.83 per share for the quarter, down from their prior forecast of $1.01. The consensus estimate for Generac’s current full-year earnings is $6.32 per share. Northland Capmk also issued estimates for Generac’s FY2024 earnings at $6.48 EPS.

A number of other brokerages have also recently weighed in on GNRC. OTR Global upgraded Generac from a “mixed” rating to a “positive” rating in a research note on Tuesday. TD Cowen lowered their target price on shares of Generac from $165.00 to $144.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Robert W. Baird lifted their price objective on shares of Generac from $112.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Roth Mkm upped their target price on Generac from $105.00 to $118.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Finally, UBS Group lowered their price target on shares of Generac from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.79.

View Our Latest Analysis on GNRC

Generac Stock Up 0.6 %

NYSE:GNRC opened at $128.15 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.27 and a quick ratio of 0.94. Generac has a 1-year low of $79.86 and a 1-year high of $156.95. The company has a 50-day moving average of $117.22 and a 200 day moving average of $113.68. The firm has a market cap of $7.72 billion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 2.00 and a beta of 1.45.

Generac (NYSE:GNRCGet Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $2.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.02). Generac had a return on equity of 14.15% and a net margin of 5.33%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $1.78 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $115.22, for a total transaction of $576,100.00. Following the transaction, the chief executive officer now directly owns 577,690 shares in the company, valued at $66,561,441.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Generac

A number of institutional investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. boosted its holdings in Generac by 83.2% in the 1st quarter. Fairfield Bush & CO. now owns 7,102 shares of the technology company’s stock valued at $2,111,000 after purchasing an additional 3,225 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Generac by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,442 shares of the technology company’s stock worth $2,509,000 after acquiring an additional 523 shares during the last quarter. Prudential PLC purchased a new stake in Generac in the first quarter valued at $441,000. National Pension Service lifted its stake in shares of Generac by 12.8% in the 1st quarter. National Pension Service now owns 98,555 shares of the technology company’s stock valued at $29,296,000 after purchasing an additional 11,158 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Generac by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company’s stock worth $2,012,595,000 after purchasing an additional 130,854 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

About Generac

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Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.

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Earnings History and Estimates for Generac (NYSE:GNRC)

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