Brokers Offer Predictions for Gentex Co.’s Q3 2024 Earnings (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) – Seaport Res Ptn upped their Q3 2024 EPS estimates for Gentex in a research report issued on Sunday, April 28th. Seaport Res Ptn analyst G. Chin now anticipates that the auto parts company will post earnings of $0.54 per share for the quarter, up from their prior estimate of $0.53. The consensus estimate for Gentex’s current full-year earnings is $2.17 per share. Seaport Res Ptn also issued estimates for Gentex’s Q4 2024 earnings at $0.56 EPS and FY2025 earnings at $2.31 EPS.

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

GNTX has been the topic of several other research reports. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a report on Monday. B. Riley boosted their target price on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group lifted their price objective on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, January 29th. JPMorgan Chase & Co. increased their target price on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, Guggenheim raised their target price on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Gentex has a consensus rating of “Hold” and an average target price of $37.83.

Gentex Stock Up 0.4 %

Shares of GNTX stock opened at $34.86 on Tuesday. Gentex has a 12-month low of $25.86 and a 12-month high of $37.58. The firm has a fifty day moving average of $35.67 and a 200-day moving average of $33.13. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 0.73 and a beta of 0.99.

Institutional Investors Weigh In On Gentex

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

Insider Buying and Selling

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

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were given 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 of this dividend was Thursday, April 4th. Gentex’s dividend payout ratio (DPR) 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.