William Blair Expects Lower Earnings for Global Industrial

Global Industrial (NYSE:GIC) – William Blair reduced their FY2024 EPS estimates for shares of Global Industrial in a note issued to investors on Thursday, January 2nd. William Blair analyst R. Merkel now expects that the company will earn $1.57 per share for the year, down from their prior estimate of $1.63. The consensus estimate for Global Industrial’s current full-year earnings is $1.62 per share. William Blair also issued estimates for Global Industrial’s Q4 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.33 EPS and FY2026 earnings at $1.84 EPS.

Global Industrial Price Performance

GIC opened at $23.96 on Friday. Global Industrial has a 1 year low of $23.93 and a 1 year high of $46.97. The company has a market capitalization of $916.01 million, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.86. The business has a fifty day simple moving average of $27.40 and a 200 day simple moving average of $30.93.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.14). Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. The company had revenue of $342.40 million during the quarter, compared to the consensus estimate of $353.44 million. During the same period in the previous year, the company earned $0.54 earnings per share.

Global Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is 58.82%.

Insider Buying and Selling at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the completion of the sale, the insider now owns 23,675 shares of the company’s stock, valued at approximately $669,529. This represents a 19.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 65.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new position in Global Industrial in the 3rd quarter valued at approximately $61,000. Point72 Asset Management L.P. raised its stake in Global Industrial by 173.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after buying an additional 2,249 shares during the period. National Bank of Canada FI raised its position in shares of Global Industrial by 41.8% during the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after purchasing an additional 1,472 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Global Industrial by 12.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after buying an additional 919 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Global Industrial in the third quarter worth approximately $281,000. 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.