Brokers Offer Predictions for Generac Holdings Inc.’s Q2 2024 Earnings (NYSE:GNRC)

Generac Holdings Inc. (NYSE:GNRCFree Report) – Stock analysts at William Blair reduced their Q2 2024 earnings estimates for Generac in a research report issued on Wednesday, May 1st. William Blair analyst B. Drab now forecasts that the technology company will post earnings per share of $1.22 for the quarter, down from their previous forecast of $1.34. The consensus estimate for Generac’s current full-year earnings is $6.09 per share. William Blair also issued estimates for Generac’s FY2024 earnings at $6.25 EPS and FY2025 earnings at $7.61 EPS.

Several other equities analysts have also issued reports on the stock. Robert W. Baird lifted their target price on shares of Generac from $112.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. UBS Group dropped their target price on Generac from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. OTR Global upgraded Generac from a “mixed” rating to a “positive” rating in a report on Tuesday, April 2nd. Canaccord Genuity Group upped their price target on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Roth Mkm raised their price objective on shares of Generac from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.40.

View Our Latest Analysis on GNRC

Generac Stock Up 3.7 %

Shares of Generac stock opened at $133.38 on Friday. Generac has a 1 year low of $79.86 and a 1 year high of $156.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.94. The company has a 50-day moving average of $124.48 and a 200 day moving average of $118.20. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 1.76 and a beta of 1.41.

Generac (NYSE:GNRCGet Free Report) last released its earnings results on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. The company had revenue of $889.27 million during the quarter, compared to analysts’ expectations of $886.60 million. Generac had a return on equity of 14.68% and a net margin of 5.68%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS.

Hedge Funds Weigh In On Generac

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors purchased a new position in Generac during the fourth quarter valued at approximately $155,707,000. Norges Bank bought a new position in shares of Generac in the fourth quarter worth about $67,253,000. Wellington Management Group LLP grew its position in shares of Generac by 432.9% during the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock worth $50,697,000 after purchasing an additional 318,664 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Generac by 13,944.2% in the 3rd quarter. Mackenzie Financial Corp now owns 297,456 shares of the technology company’s stock worth $30,683,000 after purchasing an additional 295,338 shares in the last quarter. Finally, Ariel Investments LLC boosted its stake in Generac by 14.9% in the 3rd quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock worth $219,047,000 after purchasing an additional 261,050 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total value of $699,750.00. Following the transaction, the chief executive officer now owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Generac Company Profile

(Get Free Report)

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.

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Earnings History and Estimates for Generac (NYSE:GNRC)

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