Equities Analysts Offer Predictions for Gentex Co.’s FY2024 Earnings (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTXFree Report) – Stock analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for shares of Gentex in a note issued to investors on Sunday, April 28th. Seaport Res Ptn analyst G. Chin now forecasts that the auto parts company will post earnings per share of $2.10 for the year, down from their prior forecast of $2.34. The consensus estimate for Gentex’s current full-year earnings is $2.12 per share.

GNTX has been the topic of several other research reports. Guggenheim upped their price objective on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. B. Riley increased their price objective on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. The Goldman Sachs Group boosted their target price on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. raised their price target on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, StockNews.com cut 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus price target of $37.83.

Read Our Latest Research Report on GNTX

Gentex Price Performance

GNTX stock opened at $34.13 on Wednesday. The firm has a market cap of $7.89 billion, a PE ratio of 18.06, a P/E/G ratio of 0.74 and a beta of 0.98. Gentex has a 12 month low of $25.86 and a 12 month high of $37.58. The firm has a 50 day simple moving average of $35.59 and a 200 day simple moving average of $33.16.

Gentex (NASDAQ:GNTXGet Free Report) last posted its earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company had revenue of $590.23 million during 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 business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share.

Gentex Dividend Announcement

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. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.48 annualized dividend and a yield of 1.41%. Gentex’s dividend payout ratio is presently 25.40%.

Insider Buying and Selling at Gentex

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares of the company’s stock, valued at approximately $1,464,365.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Gentex

Institutional investors have recently made changes to their positions in the stock. Synovus Financial Corp increased its stake in shares of Gentex by 1.7% in the third quarter. Synovus Financial Corp now owns 20,068 shares of the auto parts company’s stock valued at $653,000 after buying an additional 333 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Gentex by 0.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 50,311 shares of the auto parts company’s stock valued at $1,643,000 after buying an additional 336 shares during the period. GAMMA Investing LLC boosted its position in Gentex by 26.3% during the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 363 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in Gentex by 0.5% during the 4th quarter. Eagle Asset Management Inc. now owns 69,808 shares of the auto parts company’s stock worth $2,280,000 after acquiring an additional 373 shares during the period. Finally, Lincoln National Corp raised its position in shares of Gentex by 2.3% in the 3rd quarter. Lincoln National Corp now owns 17,940 shares of the auto parts company’s stock worth $584,000 after acquiring an additional 411 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Gentex (NASDAQ:GNTX)

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