Zacks: Brokerages Anticipate Gentex Co. (NASDAQ:GNTX) Will Announce Quarterly Sales of $478.41 Million

Analysts expect Gentex Co. (NASDAQ:GNTX) to report $478.41 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Gentex’s earnings, with the highest sales estimate coming in at $482.40 million and the lowest estimate coming in at $475.70 million. Gentex reported sales of $460.25 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.9%. The business is expected to announce its next quarterly earnings results on Friday, October 18th.

According to Zacks, analysts expect that Gentex will report full year sales of $1.89 billion for the current year, with estimates ranging from $1.88 billion to $1.89 billion. For the next financial year, analysts expect that the business will report sales of $1.98 billion, with estimates ranging from $1.95 billion to $2.02 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Gentex.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 19th. The auto parts company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company had revenue of $468.71 million during the quarter, compared to the consensus estimate of $462.65 million. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share.

Several brokerages have recently commented on GNTX. ValuEngine downgraded shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub upgraded shares of Gentex from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. B. Riley set a $29.00 target price on shares of Gentex and gave the company a “buy” rating in a report on Friday, July 19th. Longbow Research reiterated a “hold” rating on shares of Gentex in a report on Sunday, July 7th. Finally, Zacks Investment Research upgraded shares of Gentex from a “sell” rating to a “hold” rating and set a $28.00 target price for the company in a report on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.66.

In other news, Director Gary F. Goode sold 2,586 shares of Gentex stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $27.60, for a total value of $71,373.60. Following the completion of the transaction, the director now owns 22,989 shares in the company, valued at $634,496.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James A. Hollars sold 14,000 shares of Gentex stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $25.32, for a total transaction of $354,480.00. Following the completion of the transaction, the director now owns 51,707 shares of the company’s stock, valued at approximately $1,309,221.24. The disclosure for this sale can be found here. Insiders have sold 36,394 shares of company stock valued at $937,122 in the last 90 days. 0.37% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sigma Planning Corp increased its stake in shares of Gentex by 2.2% in the second quarter. Sigma Planning Corp now owns 17,943 shares of the auto parts company’s stock worth $442,000 after purchasing an additional 386 shares in the last quarter. Buckhead Capital Management LLC boosted its position in shares of Gentex by 0.3% in the second quarter. Buckhead Capital Management LLC now owns 136,183 shares of the auto parts company’s stock valued at $3,351,000 after acquiring an additional 405 shares during the period. BancorpSouth Bank boosted its position in shares of Gentex by 2.3% in the second quarter. BancorpSouth Bank now owns 23,799 shares of the auto parts company’s stock valued at $585,000 after acquiring an additional 534 shares during the period. Hammer Asset Management LLC boosted its position in shares of Gentex by 0.4% in the second quarter. Hammer Asset Management LLC now owns 149,969 shares of the auto parts company’s stock valued at $3,691,000 after acquiring an additional 543 shares during the period. Finally, Norris Perne & French LLP MI boosted its position in shares of Gentex by 2.9% in the first quarter. Norris Perne & French LLP MI now owns 19,431 shares of the auto parts company’s stock valued at $402,000 after acquiring an additional 544 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Shares of GNTX stock traded up $0.18 on Friday, hitting $26.66. The stock had a trading volume of 909,487 shares, compared to its average volume of 1,764,012. The business has a 50 day moving average of $25.92 and a 200 day moving average of $22.83. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 3.14 and a beta of 1.22. Gentex has a 12-month low of $17.80 and a 12-month high of $27.94.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.46 dividend on an annualized basis and a yield of 1.73%. Gentex’s dividend payout ratio (DPR) is presently 28.40%.

Gentex Company Profile

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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