Q2 2024 EPS Estimates for Global Industrial Lowered by Sidoti Csr (NYSE:GIC)

Global Industrial (NYSE:GIC) – Equities research analysts at Sidoti Csr dropped their Q2 2024 earnings per share (EPS) estimates for shares of Global Industrial in a research note issued on Monday, June 17th. Sidoti Csr analyst A. Lebiedzinski now expects that the company will post earnings of $0.45 per share for the quarter, down from their prior estimate of $0.48. The consensus estimate for Global Industrial’s current full-year earnings is $1.96 per share. Sidoti Csr also issued estimates for Global Industrial’s Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.46 EPS and FY2024 earnings at $1.84 EPS.

Global Industrial Price Performance

Shares of GIC stock opened at $32.07 on Tuesday. The stock has a market capitalization of $1.22 billion, a PE ratio of 17.43, a P/E/G ratio of 1.02 and a beta of 0.87. Global Industrial has a 1-year low of $26.36 and a 1-year high of $46.97. The business has a 50-day moving average of $36.48 and a 200 day moving average of $39.84.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). Global Industrial had a return on equity of 28.39% and a net margin of 5.34%. The firm had revenue of $323.40 million during the quarter, compared to analysts’ expectations of $322.27 million.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GIC. Acadian Asset Management LLC increased its position in Global Industrial by 9.8% during the 3rd quarter. Acadian Asset Management LLC now owns 23,840 shares of the company’s stock valued at $798,000 after buying an additional 2,128 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Global Industrial by 175.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 44,730 shares of the company’s stock worth $1,737,000 after buying an additional 28,520 shares during the last quarter. FMR LLC boosted its stake in shares of Global Industrial by 520.0% in the 3rd quarter. FMR LLC now owns 409,721 shares of the company’s stock worth $13,726,000 after buying an additional 343,633 shares during the last quarter. Jump Financial LLC boosted its stake in shares of Global Industrial by 94.1% in the 4th quarter. Jump Financial LLC now owns 11,841 shares of the company’s stock worth $460,000 after buying an additional 5,741 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Global Industrial by 1.8% in the 3rd quarter. Hsbc Holdings PLC now owns 31,061 shares of the company’s stock worth $1,040,000 after buying an additional 537 shares during the last quarter. Institutional investors own 31.19% of the company’s stock.

Global Industrial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Friday, May 10th. Global Industrial’s payout ratio is 54.35%.

Global Industrial Company Profile

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.