Gates Industrial (NYSE:GTES) released its earnings results on Tuesday. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06, Briefing.com reports. Gates Industrial had a return on equity of 11.56% and a net margin of 23.67%. The firm had revenue of $746.60 million for the quarter, compared to analysts’ expectations of $747.15 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was down 9.9% on a year-over-year basis.
Shares of NYSE:GTES traded up $0.02 during midday trading on Friday, reaching $12.00. 17,108 shares of the company’s stock traded hands, compared to its average volume of 383,763. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 9.38 and a beta of 2.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.06 and a current ratio of 2.91. Gates Industrial has a one year low of $6.76 and a one year high of $17.60. The stock has a 50 day moving average of $10.06 and a 200 day moving average of $10.87.
A number of research firms have recently commented on GTES. UBS Group cut Gates Industrial from a “buy” rating to a “neutral” rating and set a $9.50 target price on the stock. in a research note on Thursday, October 10th. Royal Bank of Canada cut Gates Industrial from an “outperform” rating to a “sector perform” rating and set a $10.00 target price on the stock. in a research note on Wednesday, October 9th. KeyCorp cut their target price on Gates Industrial from $19.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley set a $9.00 target price on Gates Industrial and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, ValuEngine raised Gates Industrial from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Gates Industrial presently has a consensus rating of “Hold” and an average target price of $12.36.
Gates Industrial Company Profile
Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.
Recommended Story: Return on Equity (ROE)
Receive News & Ratings for Gates Industrial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gates Industrial and related companies with MarketBeat.com's FREE daily email newsletter.