Gentex (NASDAQ:GNTX) released its quarterly earnings results on Wednesday, April 24th. The auto parts company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01, MarketWatch Earnings reports. The business had revenue of $468.60 million for the quarter, compared to analysts’ expectations of $463.79 million. Gentex had a return on equity of 23.03% and a net margin of 23.45%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share.
Shares of NASDAQ GNTX traded down $0.11 during mid-day trading on Friday, hitting $22.08. The company had a trading volume of 777,700 shares, compared to its average volume of 1,792,577. Gentex has a 12 month low of $17.80 and a 12 month high of $25.41. The stock has a market cap of $5.67 billion, a PE ratio of 13.63, a PEG ratio of 2.24 and a beta of 1.14.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 2.08%. This is a boost from Gentex’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, April 9th. Gentex’s dividend payout ratio is 28.40%.
A number of hedge funds have recently modified their holdings of the business. Norris Perne & French LLP MI increased its stake in Gentex by 2.9% in the 1st quarter. Norris Perne & French LLP MI now owns 19,431 shares of the auto parts company’s stock valued at $402,000 after buying an additional 544 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Gentex by 23.7% in the 1st quarter. Parallel Advisors LLC now owns 2,857 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 547 shares during the period. Azimuth Capital Management LLC lifted its holdings in shares of Gentex by 0.5% during the 1st quarter. Azimuth Capital Management LLC now owns 106,800 shares of the auto parts company’s stock worth $2,209,000 after acquiring an additional 550 shares during the period. Mason Street Advisors LLC lifted its holdings in shares of Gentex by 0.4% during the 1st quarter. Mason Street Advisors LLC now owns 137,852 shares of the auto parts company’s stock worth $2,851,000 after acquiring an additional 555 shares during the period. Finally, Strs Ohio lifted its holdings in shares of Gentex by 4.1% during the 1st quarter. Strs Ohio now owns 14,086 shares of the auto parts company’s stock worth $291,000 after acquiring an additional 558 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Gentex from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Wells Fargo & Co reissued a “buy” rating on shares of Gentex in a report on Wednesday, January 30th. BidaskClub raised Gentex from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. BMO Capital Markets decreased their price objective on Gentex from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $23.00 target price on shares of Gentex in a research report on Monday, February 4th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $22.28.
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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