B. Riley Estimates Gentex’s FY2024 Earnings (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) – Analysts at B. Riley upped their FY2024 earnings per share (EPS) estimates for Gentex in a research report issued on Tuesday, January 21st. B. Riley analyst J. Nichols now anticipates that the auto parts company will post earnings per share of $1.84 for the year, up from their prior estimate of $1.82. The consensus estimate for Gentex’s current full-year earnings is $1.86 per share. B. Riley also issued estimates for Gentex’s Q4 2024 earnings at $0.46 EPS and FY2025 earnings at $2.01 EPS.

A number of other equities analysts have also commented on GNTX. Robert W. Baird raised their price target on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Bank of America lowered 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. Guggenheim reduced their price target on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group lowered their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.13.

Gentex Stock Performance

GNTX opened at $28.01 on Thursday. The stock has a fifty day moving average of $29.29 and a 200-day moving average of $30.11. The company has a market capitalization of $6.37 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.88 and a beta of 0.91. Gentex has a fifty-two week low of $26.58 and a fifty-two week high of $37.58.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, January 8th. Gentex’s dividend payout ratio is presently 25.67%.

Hedge Funds Weigh In On Gentex

Several hedge funds and other institutional investors have recently modified their holdings of GNTX. EverSource Wealth Advisors LLC boosted its stake in Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after buying an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Gentex by 227.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after acquiring an additional 1,269 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Gentex in the third quarter worth about $125,000. GAMMA Investing LLC boosted its stake in shares of Gentex by 159.1% in the 4th quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock valued at $147,000 after purchasing an additional 3,152 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Gentex by 13.3% during the 3rd quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock valued at $168,000 after purchasing an additional 667 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

About Gentex

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.