Generac Holdings Inc. (NYSE:GNRC) Expected to Earn Q2 2024 Earnings of $1.38 Per Share

Generac Holdings Inc. (NYSE:GNRC) – Stock analysts at Northland Capmk dropped their Q2 2024 earnings estimates for shares of Generac in a note issued to investors on Thursday, May 2nd. Northland Capmk analyst D. Schafer now anticipates that the technology company will post earnings of $1.38 per share for the quarter, down from their prior forecast of $1.55. The consensus estimate for Generac’s current full-year earnings is $6.09 per share. Northland Capmk also issued estimates for Generac’s Q3 2024 earnings at $1.91 EPS, Q4 2024 earnings at $2.26 EPS and FY2024 earnings at $6.43 EPS.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The company had revenue of $889.27 million for the quarter, compared to analysts’ expectations of $886.60 million. During the same quarter in the prior year, the company earned $0.63 earnings per share. The firm’s revenue was up .2% on a year-over-year basis.

A number of other research firms have also weighed in on GNRC. Guggenheim lowered Generac from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. TD Cowen cut their price target on shares of Generac from $165.00 to $144.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Robert W. Baird raised 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. Oppenheimer lifted their price objective on shares of Generac from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, UBS Group reduced their target price on Generac from $160.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.40.

Generac Stock Performance

Shares of NYSE GNRC opened at $133.38 on Friday. The stock’s fifty day simple moving average is $124.48 and its 200 day simple moving average is $118.20. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 1.76 and a beta of 1.41. The company has a quick ratio of 0.94, a current ratio of 2.29 and a debt-to-equity ratio of 0.61. Generac has a 52-week low of $79.86 and a 52-week high of $156.95.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total transaction of $699,750.00. Following the transaction, the chief executive officer now directly owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Generac

A number of large investors have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC acquired a new stake in shares of Generac in the fourth quarter worth $27,000. Headlands Technologies LLC acquired a new position in Generac in the 3rd quarter valued at $28,000. BKM Wealth Management LLC bought a new position in Generac in the 4th quarter worth $28,000. ORG Partners LLC acquired a new position in Generac during the 4th quarter worth $38,000. Finally, Quarry LP boosted its holdings in Generac by 219.6% during the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after acquiring an additional 202 shares during the period. Institutional investors own 84.04% of the company’s stock.

About Generac

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.