Analysts Issue Forecasts for Gentex Co.’s Q3 2024 Earnings (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) – Investment analysts at Seaport Res Ptn increased their Q3 2024 earnings estimates for shares of Gentex in a note issued to investors on Sunday, April 28th. Seaport Res Ptn analyst G. Chin now expects that the auto parts company will post earnings per share of $0.54 for the quarter, up from their previous forecast of $0.53. The consensus estimate for Gentex’s current full-year earnings is $2.17 per share. Seaport Res Ptn also issued estimates for Gentex’s Q4 2024 earnings at $0.56 EPS and FY2025 earnings at $2.31 EPS.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The firm had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. Gentex had a net margin of 18.77% and a return on equity of 19.19%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share.

A number of other equities analysts have also recently commented on the stock. Guggenheim lifted their price objective on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price target on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. The Goldman Sachs Group lifted their price target on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. B. Riley lifted their price target on shares of Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gentex currently has an average rating of “Hold” and a consensus target price of $37.83.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $34.30 on Tuesday. The company has a market cap of $7.93 billion, a P/E ratio of 18.15, a P/E/G ratio of 0.73 and a beta of 0.99. The firm’s fifty day moving average is $35.65 and its two-hundred day moving average is $33.15. Gentex has a 52-week low of $25.86 and a 52-week high of $37.58.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex’s payout ratio is 25.40%.

Insiders Place Their Bets

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the sale, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the sale, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the sale, the director now directly owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Institutional Trading of Gentex

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Gentex by 95.4% in the 3rd quarter. Wellington Management Group LLP now owns 6,823,022 shares of the auto parts company’s stock valued at $222,021,000 after purchasing an additional 3,330,502 shares during the last quarter. Norges Bank purchased a new position in shares of Gentex in the 4th quarter valued at approximately $89,843,000. First Trust Advisors LP raised its position in shares of Gentex by 301.6% in the 4th quarter. First Trust Advisors LP now owns 2,568,775 shares of the auto parts company’s stock valued at $83,896,000 after purchasing an additional 1,929,150 shares during the last quarter. TD Asset Management Inc raised its position in shares of Gentex by 58.1% in the 4th quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock valued at $108,227,000 after purchasing an additional 1,217,278 shares during the last quarter. Finally, Leeward Investments LLC MA purchased a new position in shares of Gentex in the 1st quarter valued at approximately $28,289,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

About Gentex

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.