Equities Analysts Issue Forecasts for Gentex Co.’s Q2 2024 Earnings (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) – Equities researchers at B. Riley dropped their Q2 2024 earnings estimates for Gentex in a note issued to investors on Monday, April 29th. B. Riley analyst J. Nichols now anticipates that the auto parts company will post earnings of $0.50 per share for the quarter, down from their previous forecast of $0.51. B. Riley currently has a “Buy” rating and a $44.00 target price on the stock. The consensus estimate for Gentex’s current full-year earnings is $2.17 per share. B. Riley also issued estimates for Gentex’s FY2024 earnings at $2.05 EPS and FY2025 earnings at $2.33 EPS.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $590.23 million for the quarter, compared to analysts’ expectations of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS.

GNTX has been the topic of a number of other reports. The Goldman Sachs Group increased their price target on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a research note on Monday. Guggenheim upped their price target on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.83.

Gentex Stock Down 1.6 %

Shares of NASDAQ GNTX opened at $34.30 on Tuesday. The company has a market cap of $7.93 billion, a P/E ratio of 18.15, a P/E/G ratio of 0.73 and a beta of 0.99. Gentex has a 52 week low of $25.86 and a 52 week high of $37.58. The business has a 50-day simple moving average of $35.65 and a two-hundred day simple moving average of $33.15.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GNTX. Neo Ivy Capital Management bought a new position in Gentex in the 4th quarter worth $29,000. National Bank of Canada FI raised its stake in Gentex by 159.1% in the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after buying an additional 571 shares in the last quarter. VisionPoint Advisory Group LLC lifted its holdings in Gentex by 123.6% in the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock worth $39,000 after buying an additional 665 shares during the period. GAMMA Investing LLC bought a new stake in Gentex during the 4th quarter valued at approximately $46,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Gentex by 371.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock worth $89,000 after acquiring an additional 2,157 shares during the period. Institutional investors own 86.76% of the company’s stock.

Insider Transactions at Gentex

In related news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the transaction, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the sale, the director now owns 62,555 shares of the company’s stock, valued at approximately $2,122,491.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin C. Nash sold 13,500 shares of Gentex stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex’s dividend payout ratio is currently 25.40%.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.