B. Riley Has Negative Estimate for Gentex Q3 Earnings

Gentex Co. (NASDAQ:GNTX) – Analysts at B. Riley decreased their Q3 2024 earnings estimates for shares of Gentex in a research note issued to investors on Thursday, October 17th. B. Riley analyst J. Nichols now forecasts that the auto parts company will post earnings of $0.52 per share for the quarter, down from their prior estimate of $0.53. B. Riley currently has a “Buy” rating and a $41.00 price target on the stock. The consensus estimate for Gentex’s current full-year earnings is $1.96 per share. B. Riley also issued estimates for Gentex’s FY2024 earnings at $1.92 EPS and FY2025 earnings at $2.22 EPS.

Several other analysts also recently weighed in on GNTX. JPMorgan Chase & Co. decreased their price objective on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Tuesday, July 30th. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Robert W. Baird lowered their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Finally, UBS Group began coverage on shares of Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price for the company. Six equities research 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 company has a consensus rating of “Hold” and an average price target of $36.13.

Gentex Price Performance

Shares of GNTX opened at $29.92 on Friday. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 0.95 and a beta of 0.92. Gentex has a 1-year low of $27.86 and a 1-year high of $37.58. The company has a 50-day moving average of $29.85 and a 200 day moving average of $32.43.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The business had revenue of $572.93 million for the quarter, compared to analysts’ expectations of $623.28 million.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Gentex in the 2nd quarter valued at $31,000. Gladius Capital Management LP acquired a new stake in Gentex during the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC raised its stake in shares of Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after buying an additional 850 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Gentex by 26.3% in the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after buying an additional 363 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Gentex by 227.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after buying an additional 1,269 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gentex

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by insiders.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.60%. Gentex’s dividend payout ratio (DPR) is currently 25.40%.

Gentex Company Profile

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.