What is William Blair’s Forecast for GIC FY2024 Earnings?

Global Industrial (NYSE:GIC) – Investment analysts at William Blair reduced their FY2024 earnings estimates for Global Industrial in a research report issued to clients and investors on Thursday, January 2nd. William Blair analyst R. Merkel now forecasts that the company will earn $1.57 per share for the year, down from their previous forecast 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 Trading Up 0.8 %

Shares of NYSE GIC opened at $24.16 on Friday. Global Industrial has a 1-year low of $23.93 and a 1-year high of $46.97. The stock has a fifty day simple moving average of $27.21 and a two-hundred day simple moving average of $30.87. The firm has a market cap of $923.64 million, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.04 and a beta of 0.86.

Global Industrial (NYSE:GIC) last announced its earnings results on Tuesday, October 29th. The company reported $0.44 EPS 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 firm had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $353.44 million. During the same quarter in the prior year, the company earned $0.54 EPS.

Global Industrial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 4.14%. Global Industrial’s payout ratio is currently 58.82%.

Insider Buying and Selling

In related 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 value of $165,155.20. Following the transaction, the insider now directly owns 23,675 shares in the company, valued at approximately $669,529. This represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 65.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global Industrial

A number of hedge funds and other institutional investors have recently bought and sold shares of GIC. JPMorgan Chase & Co. lifted its stake in Global Industrial by 39.8% during the third quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock worth $1,563,000 after purchasing an additional 13,105 shares during the last quarter. Barclays PLC lifted its position in Global Industrial by 221.5% in the 3rd quarter. Barclays PLC now owns 30,622 shares of the company’s stock worth $1,041,000 after buying an additional 21,097 shares during the last quarter. Geode Capital Management LLC boosted its stake in Global Industrial by 3.5% in the third quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after buying an additional 10,601 shares in the last quarter. State Street Corp grew its position in Global Industrial by 2.6% during the third quarter. State Street Corp now owns 315,779 shares of the company’s stock valued at $10,727,000 after acquiring an additional 8,136 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of Global Industrial by 101.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 177,884 shares of the company’s stock worth $6,043,000 after acquiring an additional 89,780 shares in the last quarter. Hedge funds and other institutional investors own 31.19% of the company’s stock.

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.