Q3 2024 EPS Estimates for Global Industrial (NYSE:GIC) Reduced by William Blair

Global Industrial (NYSE:GIC) – Research analysts at William Blair reduced their Q3 2024 earnings estimates for shares of Global Industrial in a research note issued to investors on Tuesday, October 8th. William Blair analyst R. Merkel now expects that the company will post earnings per share of $0.61 for the quarter, down from their prior forecast of $0.68. The consensus estimate for Global Industrial’s current full-year earnings is $1.97 per share. William Blair also issued estimates for Global Industrial’s Q4 2024 earnings at $0.40 EPS, Q3 2025 earnings at $0.73 EPS, FY2025 earnings at $2.09 EPS and FY2026 earnings at $2.33 EPS.

Global Industrial Price Performance

Shares of NYSE GIC opened at $32.62 on Wednesday. Global Industrial has a 1-year low of $30.13 and a 1-year high of $46.97. The business has a fifty day moving average price of $32.79 and a 200 day moving average price of $34.98. The stock has a market capitalization of $1.25 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.07 and a beta of 0.83.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, July 30th. The company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. The company had revenue of $347.80 million during the quarter, compared to analyst estimates of $348.84 million. During the same quarter in the prior year, the business earned $0.56 earnings per share.

Global Industrial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, August 9th. Global Industrial’s payout ratio is 54.35%.

Institutional Investors Weigh In On Global Industrial

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in Global Industrial by 2.1% in the second quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after buying an additional 397 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Global Industrial by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,856 shares of the company’s stock worth $576,000 after buying an additional 459 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Global Industrial by 12.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock valued at $252,000 after purchasing an additional 919 shares during the last quarter. Quadrature Capital Ltd raised its stake in shares of Global Industrial by 14.2% in the first quarter. Quadrature Capital Ltd now owns 8,918 shares of the company’s stock worth $399,000 after purchasing an additional 1,106 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Global Industrial by 41.8% during the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after purchasing an additional 1,472 shares during the period. 31.19% of the stock is currently owned by institutional investors and hedge funds.

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.