B. Riley Weighs in on Gentex Co.’s Q2 2024 Earnings (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) – Analysts at B. Riley reduced their Q2 2024 earnings estimates for shares of Gentex in a research report issued to clients and investors on Monday, April 29th. B. Riley analyst J. Nichols now anticipates that the auto parts company will post earnings of $0.50 per share for the quarter, down from their previous estimate of $0.51. B. Riley has a “Buy” rating and a $44.00 price target on the stock. The consensus estimate for Gentex’s current full-year earnings is $2.17 per share. B. Riley also issued estimates for Gentex’s FY2024 earnings at $2.05 EPS and FY2025 earnings at $2.33 EPS.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $590.23 million during the quarter, compared to analysts’ expectations of $600.38 million. Gentex had a net margin of 18.77% and a return on equity of 19.19%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS.

Several other brokerages have also issued reports on GNTX. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group boosted their price objective on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. raised their target price on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Finally, Guggenheim increased their price target on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.83.

Gentex Stock Up 0.4 %

NASDAQ:GNTX opened at $34.86 on Tuesday. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99. The company has a fifty day simple moving average of $35.67 and a two-hundred day simple moving average of $33.13. Gentex has a 52 week low of $25.86 and a 52 week high of $37.58.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Merit Financial Group LLC purchased a new stake in shares of Gentex during the third quarter worth about $618,000. IFG Advisory LLC grew its holdings in Gentex by 85.1% in the fourth quarter. IFG Advisory LLC now owns 129,203 shares of the auto parts company’s stock valued at $4,220,000 after purchasing an additional 59,407 shares during the period. New York Life Investment Management LLC raised its stake in Gentex by 112.3% during the third quarter. New York Life Investment Management LLC now owns 24,876 shares of the auto parts company’s stock worth $809,000 after purchasing an additional 13,161 shares during the period. Cumberland Partners Ltd raised its position in shares of Gentex by 104.1% in the 4th quarter. Cumberland Partners Ltd now owns 184,655 shares of the auto parts company’s stock worth $6,030,000 after buying an additional 94,195 shares during the period. Finally, Jump Financial LLC grew its holdings in Gentex by 130.7% during the 3rd quarter. Jump Financial LLC now owns 123,805 shares of the auto parts company’s stock valued at $4,029,000 after purchasing an additional 70,138 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gentex

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the transaction, the chief financial officer now directly owns 44,321 shares in the company, valued at $1,464,365.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Richard O. Schaum sold 6,022 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the sale, the director now directly owns 62,555 shares in the company, valued at approximately $2,122,491.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin C. Nash sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the transaction, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, April 4th. Gentex’s dividend payout ratio is presently 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.