What is William Blair’s Estimate for GIC FY2024 Earnings?

Global Industrial (NYSE:GIC) – Stock analysts at William Blair cut their FY2024 EPS estimates for Global Industrial in a research note issued to investors on Thursday, January 2nd. William Blair analyst R. Merkel now forecasts that the company will post earnings of $1.57 per share for the year, down from their prior forecast of $1.63. The consensus estimate for Global Industrial’s current full-year earnings is $1.62 per share. William Blair also issued estimates for Global Industrial’s Q4 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.33 EPS and FY2026 earnings at $1.84 EPS.

Global Industrial Trading Up 0.8 %

GIC opened at $24.16 on Friday. The firm has a market cap of $923.64 million, a price-to-earnings ratio of 14.21, a PEG ratio of 1.04 and a beta of 0.86. The stock’s 50-day moving average price is $27.21 and its 200 day moving average price is $30.88. Global Industrial has a 12-month low of $23.93 and a 12-month high of $46.97.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The company had revenue of $342.40 million during the quarter, compared to analyst estimates of $353.44 million. During the same period in the previous year, the company earned $0.54 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its holdings in Global Industrial by 14.7% in the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock valued at $86,085,000 after purchasing an additional 325,555 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Global Industrial by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,574 shares of the company’s stock valued at $32,067,000 after buying an additional 6,602 shares during the last quarter. Renaissance Technologies LLC raised its stake in Global Industrial by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 345,174 shares of the company’s stock worth $10,825,000 after acquiring an additional 9,200 shares in the last quarter. Geode Capital Management LLC lifted its position in Global Industrial by 3.5% in the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock valued at $10,740,000 after acquiring an additional 10,601 shares during the last quarter. Finally, State Street Corp boosted its stake in Global Industrial by 2.6% in the third quarter. State Street Corp now owns 315,779 shares of the company’s stock valued at $10,727,000 after acquiring an additional 8,136 shares in the last quarter. 31.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the completion of the transaction, the insider now owns 23,675 shares in the company, valued at approximately $669,529. The trade was a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 65.30% of the company’s stock.

Global Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Friday, November 8th. Global Industrial’s dividend payout ratio is currently 58.82%.

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.