B. Riley Brokers Decrease Earnings Estimates for Gentex

Gentex Co. (NASDAQ:GNTX) – Analysts at B. Riley cut their Q3 2024 earnings estimates for shares of Gentex in a research report issued on Thursday, October 17th. B. Riley analyst J. Nichols now anticipates that the auto parts company will post earnings per share of $0.52 for the quarter, down from their prior estimate of $0.53. B. Riley has a “Buy” rating and a $41.00 price target on the stock. The consensus estimate for Gentex’s current full-year earnings is $1.96 per share. B. Riley also issued estimates for Gentex’s FY2024 earnings at $1.92 EPS and FY2025 earnings at $2.22 EPS.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The company had revenue of $572.93 million for the quarter, compared to analyst estimates of $623.28 million.

A number of other research analysts have also weighed in on the company. Robert W. Baird decreased their price objective on Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. JPMorgan Chase & Co. decreased their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Bank of America dropped their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, The Goldman Sachs Group reduced their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.13.

Gentex Price Performance

Shares of Gentex stock opened at $29.92 on Friday. The business has a 50 day simple moving average of $29.85 and a two-hundred day simple moving average of $32.43. The stock has a market capitalization of $6.92 billion, a P/E ratio of 15.83, a PEG ratio of 0.95 and a beta of 0.92. Gentex has a 12 month low of $27.86 and a 12 month high of $37.58.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.60%. The ex-dividend date is Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Insider Buying and Selling at Gentex

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Trading of Gentex

Several hedge funds have recently made changes to their positions in GNTX. Vanguard Group Inc. lifted its holdings in Gentex by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after buying an additional 163,373 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Gentex by 129.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock worth $3,652,000 after purchasing an additional 63,152 shares in the last quarter. GAMMA Investing LLC increased its holdings in Gentex by 26.3% during the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 363 shares during the period. Ballentine Partners LLC acquired a new stake in Gentex in the 1st quarter valued at about $212,000. Finally, Financial Enhancement Group LLC boosted its stake in shares of Gentex by 0.5% in the 1st quarter. Financial Enhancement Group LLC now owns 126,831 shares of the auto parts company’s stock valued at $4,344,000 after buying an additional 629 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

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.