Gentex Co. (NASDAQ:GNTX) Expected to Earn Q1 2024 Earnings of $0.47 Per Share

Gentex Co. (NASDAQ:GNTX) – Analysts at Zacks Research dropped their Q1 2024 earnings per share estimates for Gentex in a report issued on Friday, March 22nd. Zacks Research analyst R. Department now forecasts that the auto parts company will post earnings of $0.47 per share for the quarter, down from their previous estimate of $0.48. The consensus estimate for Gentex’s current full-year earnings is $2.16 per share. Zacks Research also issued estimates for Gentex’s Q2 2025 earnings at $0.60 EPS and FY2026 earnings at $2.80 EPS.

A number of other research analysts have also recently weighed in on GNTX. StockNews.com upgraded Gentex from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group lifted their target price on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, January 29th. B. Riley boosted their price objective on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Guggenheim boosted their price objective on Gentex from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.67.

Gentex Stock Down 0.7 %

Shares of NASDAQ:GNTX opened at $35.90 on Monday. The company has a market cap of $8.31 billion, a P/E ratio of 19.51, a P/E/G ratio of 0.97 and a beta of 0.99. Gentex has a 52 week low of $25.85 and a 52 week high of $37.58. The business has a fifty day simple moving average of $34.99 and a 200-day simple moving average of $32.57.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, January 26th. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The firm had revenue of $589.13 million during the quarter, compared to analysts’ expectations of $563.42 million. Gentex had a return on equity of 19.25% and a net margin of 18.63%. Gentex’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share.

Hedge Funds Weigh In On Gentex

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Gentex by 0.4% in the third quarter. Vanguard Group Inc. now owns 23,483,145 shares of the auto parts company’s stock worth $559,838,000 after acquiring an additional 93,928 shares during the last quarter. BlackRock Inc. increased its stake in shares of Gentex by 0.4% in the first quarter. BlackRock Inc. now owns 21,794,462 shares of the auto parts company’s stock worth $610,899,000 after acquiring an additional 94,837 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Gentex by 27.9% in the fourth quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock worth $285,069,000 after acquiring an additional 1,905,356 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Gentex by 99,783.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,630,950 shares of the auto parts company’s stock worth $235,366,000 after acquiring an additional 8,622,309 shares during the last quarter. Finally, Ariel Investments LLC increased its position in Gentex by 92.4% during the first quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company’s stock worth $238,436,000 after buying an additional 3,925,355 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the transaction, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at approximately $1,464,365.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the sale, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the sale, the director now owns 62,555 shares of the company’s stock, valued at approximately $2,122,491.15. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, April 5th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, April 4th. Gentex’s dividend payout ratio (DPR) is 26.09%.

Gentex Company Profile

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.