Wall Street analysts expect Gates Industrial Corp PLC (NYSE:GTES) to post $840.70 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Gates Industrial’s earnings, with the highest sales estimate coming in at $851.30 million and the lowest estimate coming in at $830.10 million. Gates Industrial posted sales of $852.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1.3%. The firm is expected to announce its next earnings report on Wednesday, May 1st.
On average, analysts expect that Gates Industrial will report full year sales of $3.43 billion for the current year, with estimates ranging from $3.40 billion to $3.46 billion. For the next financial year, analysts expect that the company will report sales of $3.59 billion, with estimates ranging from $3.54 billion to $3.66 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Gates Industrial.
Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Tuesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.09. The business had revenue of $792.10 million during the quarter, compared to analyst estimates of $825.54 million. Gates Industrial had a return on equity of 16.23% and a net margin of 7.33%. The firm’s revenue was up 1.4% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of GTES. Geode Capital Management LLC boosted its holdings in Gates Industrial by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 457,904 shares of the company’s stock valued at $6,062,000 after purchasing an additional 6,762 shares in the last quarter. Norges Bank purchased a new stake in Gates Industrial in the 4th quarter valued at approximately $20,847,000. Dimensional Fund Advisors LP purchased a new stake in Gates Industrial in the 4th quarter valued at approximately $226,000. Millennium Management LLC boosted its holdings in Gates Industrial by 143.8% in the 4th quarter. Millennium Management LLC now owns 258,057 shares of the company’s stock valued at $3,417,000 after purchasing an additional 152,221 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Gates Industrial by 7.3% in the 4th quarter. Legal & General Group Plc now owns 15,298 shares of the company’s stock valued at $203,000 after purchasing an additional 1,040 shares in the last quarter.
Shares of NYSE:GTES traded up $0.28 during trading on Friday, hitting $15.60. The company had a trading volume of 350,653 shares, compared to its average volume of 353,692. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 12.19 and a beta of 1.73. Gates Industrial has a one year low of $12.19 and a one year high of $20.29. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.67 and a quick ratio of 1.88.
About Gates Industrial
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: What is a Candlestick Chart?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.