B. Riley Has Negative Outlook for Gentex FY2024 Earnings

Gentex Co. (NASDAQ:GNTX) – Equities researchers at B. Riley reduced their FY2024 earnings estimates for Gentex in a research report issued on Monday, October 28th. B. Riley analyst J. Nichols now expects that the auto parts company will earn $1.82 per share for the year, down from their previous estimate of $1.92. 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 $1.94 per share. B. Riley also issued estimates for Gentex’s Q4 2024 earnings at $0.45 EPS and FY2025 earnings at $1.97 EPS.

GNTX has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Robert W. Baird increased their price objective on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday. Bank of America reduced their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Finally, UBS Group assumed coverage on Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $36.00.

Gentex Trading Up 0.2 %

GNTX stock opened at $31.30 on Tuesday. The company has a market cap of $7.24 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. The stock has a 50-day moving average price of $29.95 and a two-hundred day moving average price of $32.15. Gentex has a 12-month low of $27.86 and a 12-month high of $37.58.

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

Institutional Trading of Gentex

Several hedge funds and other institutional investors have recently bought and sold shares of GNTX. Boston Partners increased its holdings in shares of Gentex by 4.2% in the 1st quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock valued at $206,095,000 after acquiring an additional 230,873 shares during the last quarter. TD Asset Management Inc increased its stake in Gentex by 41.2% during the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after purchasing an additional 1,363,898 shares during the last quarter. Burgundy Asset Management Ltd. raised its holdings in shares of Gentex by 3.0% during the second quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock worth $146,432,000 after purchasing an additional 126,416 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in shares of Gentex by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock worth $143,599,000 after buying an additional 43,457 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Gentex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock worth $134,475,000 after buying an additional 489,689 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the acquisition, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s payout ratio is 25.40%.

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.