Zacks: Analysts Expect Gentex Co. (NASDAQ:GNTX) Will Post Quarterly Sales of $478.41 Million

Brokerages expect Gentex Co. (NASDAQ:GNTX) to report $478.41 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Gentex’s earnings. The lowest sales estimate is $475.70 million and the highest is $482.40 million. Gentex reported sales of $460.25 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The business is expected to report its next earnings report on Friday, October 18th.

On average, analysts expect that Gentex will report full year sales of $1.89 billion for the current fiscal year, with estimates ranging from $1.88 billion to $1.89 billion. For the next year, analysts forecast that the firm will post sales of $1.98 billion, with estimates ranging from $1.95 billion to $2.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Gentex.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 19th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The company had revenue of $468.71 million for the quarter, compared to the consensus estimate of $462.65 million. During the same period in the previous year, the firm posted $0.40 EPS. Gentex’s revenue for the quarter was up 3.0% compared to the same quarter last year.

Several research firms recently commented on GNTX. ValuEngine upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Longbow Research reiterated a “hold” rating on shares of Gentex in a research note on Sunday, July 7th. BMO Capital Markets cut their price objective on shares of Gentex from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 2nd. B. Riley set a $29.00 price objective on shares of Gentex and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, BidaskClub raised shares of Gentex from a “sell” rating to a “hold” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $23.66.

Shares of GNTX stock traded up $0.27 during trading hours on Wednesday, reaching $27.42. 1,500,617 shares of the stock were exchanged, compared to its average volume of 1,762,452. Gentex has a 12-month low of $17.80 and a 12-month high of $27.94. The stock’s 50-day moving average is $24.74. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 3.28 and a beta of 1.21.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 1.68%. The ex-dividend date was Tuesday, July 9th. Gentex’s dividend payout ratio (DPR) is presently 28.40%.

In other Gentex news, Director James A. Hollars sold 14,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $25.32, for a total value of $354,480.00. Following the sale, the director now directly owns 51,707 shares in the company, valued at $1,309,221.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Neil Boehm sold 5,640 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $25.32, for a total value of $142,804.80. Following the completion of the sale, the chief technology officer now owns 39,520 shares in the company, valued at $1,000,646.40. The disclosure for this sale can be found here. Insiders have sold 33,808 shares of company stock worth $865,749 over the last 90 days. 0.37% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Country Trust Bank lifted its holdings in shares of Gentex by 1.9% during the 2nd quarter. Country Trust Bank now owns 1,026,687 shares of the auto parts company’s stock valued at $25,267,000 after buying an additional 18,937 shares during the last quarter. Boston Partners bought a new position in Gentex in the 1st quarter worth approximately $76,910,000. Fort L.P. increased its position in Gentex by 38.9% in the 1st quarter. Fort L.P. now owns 80,992 shares of the auto parts company’s stock worth $1,675,000 after buying an additional 22,700 shares during the period. Wedge Capital Management L L P NC increased its position in Gentex by 4.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 662,155 shares of the auto parts company’s stock worth $13,693,000 after buying an additional 25,761 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in Gentex by 17.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 257,040 shares of the auto parts company’s stock worth $5,307,000 after buying an additional 38,765 shares during the period. Institutional investors own 82.74% of the company’s stock.

Gentex Company Profile

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

See Also: Call Option Volume

Get a free copy of the Zacks research report on Gentex (GNTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Gentex (NASDAQ:GNTX)

Receive News & Ratings for Gentex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex and related companies with MarketBeat.com's FREE daily email newsletter.