William Blair Has Negative Estimate for GIC FY2024 Earnings

Global Industrial (NYSE:GIC) – Stock analysts at William Blair dropped their FY2024 EPS estimates for shares of Global Industrial in a note issued to investors on Tuesday, October 29th. William Blair analyst R. Merkel now anticipates that the company will post earnings per share of $1.63 for the year, down from their prior estimate of $2.01. The consensus estimate for Global Industrial’s current full-year earnings is $1.81 per share.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.14). Global Industrial had a return on equity of 24.93% and a net margin of 4.92%. The business had revenue of $342.40 million for the quarter, compared to analyst estimates of $353.44 million. During the same period in the previous year, the company earned $0.54 earnings per share.

Global Industrial Stock Performance

Shares of NYSE GIC opened at $26.68 on Friday. The business’s 50-day simple moving average is $32.70 and its 200-day simple moving average is $33.63. Global Industrial has a 52 week low of $25.00 and a 52 week high of $46.97. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 0.91 and a beta of 0.83.

Global Industrial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 3.75%. Global Industrial’s dividend payout ratio (DPR) is presently 58.82%.

Institutional Trading of Global Industrial

A number of institutional investors and hedge funds have recently modified their holdings of GIC. Copeland Capital Management LLC acquired a new position in Global Industrial in the 3rd quarter valued at $61,000. Exchange Traded Concepts LLC bought a new stake in Global Industrial during the third quarter valued at about $309,000. SG Americas Securities LLC acquired a new stake in shares of Global Industrial in the third quarter valued at about $281,000. Point72 Asset Management L.P. increased its stake in shares of Global Industrial by 173.0% in the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after purchasing an additional 2,249 shares during the period. Finally, Algert Global LLC lifted its position in shares of Global Industrial by 101.2% during the 2nd quarter. Algert Global LLC now owns 28,216 shares of the company’s stock worth $885,000 after purchasing an additional 14,190 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors and hedge funds.

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.