Sidoti Csr Brokers Cut Earnings Estimates for Global Industrial (NYSE:GIC)

Global Industrial (NYSE:GIC) – Investment analysts at Sidoti Csr reduced their Q2 2024 earnings estimates for shares of Global Industrial in a note issued to investors on Monday, June 17th. Sidoti Csr analyst A. Lebiedzinski now expects that the company will post earnings per share of $0.45 for the quarter, down from their previous forecast of $0.48. 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 $0.58 EPS, Q4 2024 earnings at $0.46 EPS and FY2024 earnings at $1.84 EPS.

Global Industrial (NYSE:GIC) last released its earnings results on Tuesday, April 30th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). Global Industrial had a net margin of 5.34% and a return on equity of 28.39%. The firm had revenue of $323.40 million for the quarter, compared to analysts’ expectations of $322.27 million.

Global Industrial Stock Performance

GIC opened at $31.80 on Tuesday. Global Industrial has a fifty-two week low of $26.36 and a fifty-two week high of $46.97. The firm’s fifty day moving average is $36.48 and its 200 day moving average is $39.84. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GIC. FMR LLC lifted its stake in Global Industrial by 520.0% in the 3rd quarter. FMR LLC now owns 409,721 shares of the company’s stock worth $13,726,000 after purchasing an additional 343,633 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Global Industrial by 1.8% in the 3rd quarter. Hsbc Holdings PLC now owns 31,061 shares of the company’s stock worth $1,040,000 after purchasing an additional 537 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Global Industrial by 9.8% in the 3rd quarter. Acadian Asset Management LLC now owns 23,840 shares of the company’s stock worth $798,000 after purchasing an additional 2,128 shares in the last quarter. Algert Global LLC purchased a new stake in Global Industrial in the 3rd quarter worth $357,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Global Industrial by 66.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,172 shares of the company’s stock worth $408,000 after purchasing an additional 4,877 shares in the last quarter. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, May 10th. Global Industrial’s dividend payout ratio (DPR) is 54.35%.

About Global Industrial

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.