Global Industrial to Post Q2 2024 Earnings of $0.48 Per Share, Sidoti Csr Forecasts (NYSE:GIC)

Global Industrial (NYSE:GIC) – Investment analysts at Sidoti Csr lowered their Q2 2024 earnings per share (EPS) estimates for shares of Global Industrial in a research report issued to clients and investors on Wednesday, May 1st. Sidoti Csr analyst A. Lebiedzinski now anticipates that the company will post earnings per share of $0.48 for the quarter, down from their previous estimate of $0.57. The consensus estimate for Global Industrial’s current full-year earnings is $1.96 per share. Sidoti Csr also issued estimates for Global Industrial’s Q3 2024 earnings at $0.60 EPS, Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $1.90 EPS, Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.60 EPS and FY2025 earnings at $2.35 EPS.

Global Industrial Trading Down 0.9 %

Shares of NYSE:GIC opened at $34.79 on Thursday. The company has a fifty day simple moving average of $43.13 and a 200 day simple moving average of $39.89. The firm has a market cap of $1.33 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.10 and a beta of 0.92. Global Industrial has a 12-month low of $22.22 and a 12-month high of $46.97.

Global Industrial (NYSE:GIC) last posted its earnings results on Thursday, February 29th. The company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. Global Industrial had a net margin of 5.34% and a return on equity of 28.39%. The business had revenue of $320.10 million for the quarter, compared to analysts’ expectations of $313.50 million.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 2.87%. Global Industrial’s payout ratio is 54.35%.

Insider Buying and Selling at Global Industrial

In other Global Industrial news, Vice Chairman Bruce Leeds sold 380,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.15, for a total transaction of $15,637,000.00. Following the completion of the sale, the insider now owns 139,800 shares in the company, valued at $5,752,770. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 66.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Global Industrial

Several institutional investors have recently modified their holdings of the company. Leeward Financial Partners LLC acquired a new stake in Global Industrial in the first quarter worth about $224,000. Campbell & CO Investment Adviser LLC acquired a new stake in Global Industrial in the fourth quarter worth about $526,000. Isthmus Partners LLC lifted its holdings in Global Industrial by 3.2% in the fourth quarter. Isthmus Partners LLC now owns 69,392 shares of the company’s stock worth $2,695,000 after purchasing an additional 2,137 shares during the period. Trexquant Investment LP lifted its holdings in Global Industrial by 60.3% in the fourth quarter. Trexquant Investment LP now owns 12,574 shares of the company’s stock worth $488,000 after purchasing an additional 4,732 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Global Industrial by 18.6% in the fourth quarter. Panagora Asset Management Inc. now owns 61,257 shares of the company’s stock worth $2,379,000 after purchasing an additional 9,589 shares during the period. Institutional investors own 31.19% of the company’s stock.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.