FY2024 EPS Estimates for Global Industrial Reduced by Analyst (NYSE:GIC)

Global Industrial (NYSE:GIC) – William Blair cut their FY2024 earnings per share (EPS) estimates for Global Industrial in a report issued on Tuesday, October 8th. William Blair analyst R. Merkel now expects that the company will post earnings of $2.01 per share for the year, down from their previous estimate of $2.08. The consensus estimate for Global Industrial’s current full-year earnings is $1.97 per share. William Blair also issued estimates for Global Industrial’s Q1 2025 earnings at $0.34 EPS, Q2 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.47 EPS.

Global Industrial Stock Performance

GIC opened at $32.18 on Thursday. The company has a market capitalization of $1.23 billion, a P/E ratio of 17.49, a PEG ratio of 1.07 and a beta of 0.83. The company has a 50-day moving average of $32.70 and a 200-day moving average of $34.94. Global Industrial has a 1-year low of $30.13 and a 1-year high of $46.97.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. The business had revenue of $347.80 million during the quarter, compared to the consensus estimate of $348.84 million. During the same quarter last year, the company earned $0.56 earnings per share.

Global Industrial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, August 9th. Global Industrial’s dividend payout ratio is currently 54.35%.

Institutional Investors Weigh In On Global Industrial

A number of institutional investors have recently made changes to their positions in GIC. Exchange Traded Concepts LLC acquired a new position in shares of Global Industrial in the 3rd quarter valued at about $309,000. SG Americas Securities LLC bought a new position in Global Industrial in the third quarter worth about $281,000. Point72 Asset Management L.P. boosted its stake in Global Industrial by 173.0% in the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock valued at $111,000 after acquiring an additional 2,249 shares during the period. Algert Global LLC grew its holdings in shares of Global Industrial by 101.2% during the second quarter. Algert Global LLC now owns 28,216 shares of the company’s stock valued at $885,000 after purchasing an additional 14,190 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Global Industrial by 12.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after purchasing an additional 919 shares during the period. 31.19% of the stock is currently owned by institutional investors.

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.