William Blair Equities Analysts Boost Earnings Estimates for Global Industrial (NYSE:GIC)

Global Industrial (NYSE:GIC) – William Blair increased their Q2 2024 EPS estimates for shares of Global Industrial in a report released on Tuesday, April 30th. William Blair analyst R. Merkel now forecasts that the company will post earnings per share of $0.58 for the quarter, up from their previous forecast of $0.57. The consensus estimate for Global Industrial’s current full-year earnings is $1.96 per share. William Blair also issued estimates for Global Industrial’s Q3 2024 earnings at $0.68 EPS, Q4 2024 earnings at $0.41 EPS and FY2024 earnings at $2.02 EPS.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Global Industrial had a return on equity of 28.39% and a net margin of 5.34%. The business had revenue of $320.10 million during the quarter, compared to the consensus estimate of $313.50 million.

Global Industrial Price Performance

Global Industrial stock opened at $34.79 on Thursday. The business has a 50 day simple moving average of $43.13 and a 200-day simple moving average of $39.89. Global Industrial has a 12 month low of $22.22 and a 12 month high of $46.97. The stock has a market capitalization of $1.33 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.10 and a beta of 0.92.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, May 10th. Global Industrial’s dividend payout ratio (DPR) is 54.35%.

Insider Buying and Selling at Global Industrial

In related news, Vice Chairman Bruce Leeds sold 380,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $41.15, for a total transaction of $15,637,000.00. Following the transaction, the insider now owns 139,800 shares of the company’s stock, valued at $5,752,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 66.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GIC. SG Americas Securities LLC purchased a new stake in shares of Global Industrial during the third quarter valued at approximately $102,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Global Industrial by 178.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company’s stock worth $178,000 after buying an additional 3,402 shares in the last quarter. Arizona State Retirement System acquired a new stake in shares of Global Industrial during the fourth quarter worth approximately $206,000. Leeward Financial Partners LLC acquired a new stake in shares of Global Industrial during the first quarter worth approximately $224,000. Finally, Summit Global Investments acquired a new stake in shares of Global Industrial during the fourth quarter worth approximately $255,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

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.