Gentex (GNTX) Expected to Post Quarterly Sales of $474.28 Million

Wall Street brokerages expect Gentex (NASDAQ:GNTX) to report sales of $474.28 million for the current quarter, according to Zacks. Five analysts have provided estimates for Gentex’s earnings, with the highest sales estimate coming in at $488.50 million and the lowest estimate coming in at $465.33 million. Gentex reported sales of $453.54 million in the same quarter last year, which indicates a positive year over year growth rate of 4.6%. The company is expected to report its next earnings results before the market opens on Friday, April 20th.

According to Zacks, analysts expect that Gentex will report full-year sales of $1.93 billion for the current fiscal year, with estimates ranging from $1.93 billion to $1.95 billion. For the next year, analysts expect that the firm will post sales of $2.07 billion per share, with estimates ranging from $2.04 billion to $2.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Gentex.

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Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, January 26th. The auto parts company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Gentex had a return on equity of 18.35% and a net margin of 22.66%. The company had revenue of $459.57 million for the quarter, compared to the consensus estimate of $449.43 million. During the same period last year, the business posted $0.31 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year.

GNTX has been the subject of a number of recent research reports. BidaskClub upgraded Gentex from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. BMO Capital Markets increased their target price on Gentex to $28.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Zacks Investment Research upgraded Gentex from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, December 26th. Longbow Research initiated coverage on Gentex in a research note on Friday, January 5th. They issued a “buy” rating and a $25.00 target price for the company. Finally, ValuEngine upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Gentex presently has a consensus rating of “Buy” and a consensus target price of $25.33.

GNTX stock opened at $24.25 on Friday. Gentex has a 1 year low of $16.59 and a 1 year high of $24.48. The stock has a market capitalization of $6,577.56, a PE ratio of 18.78, a P/E/G ratio of 1.54 and a beta of 1.26.

Gentex announced that its Board of Directors has authorized a share repurchase plan on Friday, March 9th that allows the company to buyback 20,000,000 shares. This buyback authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Friday, April 6th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, April 5th. This is a positive change from Gentex’s previous quarterly dividend of $0.10. Gentex’s dividend payout ratio (DPR) is 34.38%.

In other Gentex news, insider Kevin C. Nash sold 7,874 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $23.40, for a total transaction of $184,251.60. Following the transaction, the insider now owns 34,062 shares of the company’s stock, valued at approximately $797,050.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Scott P. Ryan sold 7,220 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $23.66, for a total value of $170,825.20. Following the transaction, the general counsel now directly owns 21,329 shares in the company, valued at approximately $504,644.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 974,354 shares of company stock valued at $22,734,583. 0.60% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Hikari Power Ltd bought a new stake in shares of Gentex in the 4th quarter worth approximately $203,000. Essex Financial Services Inc. bought a new stake in shares of Gentex in the 4th quarter worth approximately $205,000. Weatherly Asset Management L. P. bought a new stake in shares of Gentex in the 4th quarter worth approximately $236,000. Uncommon Cents Investing LLC bought a new stake in shares of Gentex in the 4th quarter worth approximately $243,000. Finally, BB&T Corp bought a new stake in shares of Gentex in the 4th quarter worth approximately $277,000. 84.40% of the stock is currently owned by institutional investors.

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Gentex Company Profile

Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features 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.

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Earnings History and Estimates for Gentex (NASDAQ:GNTX)

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