FY2024 EPS Forecast for Global Industrial Reduced by Analyst

Global Industrial (NYSE:GIC) – Equities research analysts at Sidoti Csr reduced their FY2024 earnings per share estimates for shares of Global Industrial in a research report issued on Wednesday, October 30th. Sidoti Csr analyst A. Lebiedzinski now anticipates that the company will earn $1.60 per share for the year, down from their previous estimate of $1.86. The consensus estimate for Global Industrial’s current full-year earnings is $1.94 per share. Sidoti Csr also issued estimates for Global Industrial’s Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.56 EPS, Q1 2026 earnings at $0.45 EPS, Q2 2026 earnings at $0.62 EPS, Q3 2026 earnings at $0.65 EPS and FY2026 earnings at $2.20 EPS.

Global Industrial Price Performance

Shares of NYSE:GIC opened at $26.55 on Thursday. Global Industrial has a 12 month low of $25.00 and a 12 month high of $46.97. The firm has a market capitalization of $1.01 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.08 and a beta of 0.83. The company’s fifty day moving average price is $32.84 and its 200 day moving average price is $33.74.

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

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is currently 58.82%.

Institutional Trading of Global Industrial

Institutional investors and hedge funds have recently made changes to their positions in the company. Copeland Capital Management LLC acquired a new position in Global Industrial during the third quarter worth approximately $61,000. Exchange Traded Concepts LLC purchased a new position in shares of Global Industrial during the third quarter worth approximately $309,000. SG Americas Securities LLC acquired a new position in shares of Global Industrial in the 3rd quarter valued at $281,000. Point72 Asset Management L.P. raised its position in Global Industrial by 173.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock valued at $111,000 after purchasing an additional 2,249 shares during the last quarter. Finally, Algert Global LLC boosted its stake in 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 period. 31.19% of the stock is owned by hedge funds and other institutional investors.

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.