Brokerages Expect Generac Holdings Inc. (NYSE:GNRC) Will Announce Quarterly Sales of $570.08 Million

Wall Street brokerages forecast that Generac Holdings Inc. (NYSE:GNRC) will post $570.08 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Generac’s earnings, with estimates ranging from $557.05 million to $587.30 million. Generac reported sales of $559.52 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.9%. The company is expected to issue its next earnings report on Thursday, November 7th.

On average, analysts expect that Generac will report full-year sales of $2.17 billion for the current financial year, with estimates ranging from $2.14 billion to $2.19 billion. For the next year, analysts expect that the firm will report sales of $2.25 billion, with estimates ranging from $2.21 billion to $2.29 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Generac.

Generac (NYSE:GNRC) last issued its earnings results on Thursday, August 1st. The technology company reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. Generac had a return on equity of 38.99% and a net margin of 12.09%. The business had revenue of $541.90 million during the quarter, compared to analyst estimates of $538.96 million. During the same quarter in the previous year, the firm earned $1.11 EPS. Generac’s revenue was up 8.9% on a year-over-year basis.

A number of equities research analysts have issued reports on GNRC shares. Northcoast Research upgraded Generac from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Friday, May 3rd. ValuEngine downgraded Generac from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird upgraded Generac from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $64.00 to $86.00 in a research note on Monday, July 1st. Zacks Investment Research upgraded Generac from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday, August 6th. Finally, Bank of America restated a “buy” rating and set a $83.00 price target (up from $75.00) on shares of Generac in a research note on Thursday, June 27th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $73.83.

NYSE:GNRC traded up $1.85 during mid-day trading on Friday, reaching $73.77. The company’s stock had a trading volume of 584,200 shares, compared to its average volume of 508,462. The firm’s fifty day moving average price is $71.53 and its two-hundred day moving average price is $59.64. The stock has a market cap of $4.49 billion, a P/E ratio of 15.70, a PEG ratio of 2.34 and a beta of 1.23. Generac has a 12-month low of $45.43 and a 12-month high of $74.19. The company has a current ratio of 2.19, a quick ratio of 1.00 and a debt-to-equity ratio of 1.18.

In other Generac news, EVP Erik Wilde sold 7,587 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $71.44, for a total transaction of $542,015.28. Following the completion of the sale, the executive vice president now directly owns 11,196 shares in the company, valued at approximately $799,842.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Aaron Jagdfeld sold 20,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $55.86, for a total value of $1,117,200.00. Following the sale, the chief executive officer now owns 681,043 shares of the company’s stock, valued at $38,043,061.98. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Several large investors have recently made changes to their positions in GNRC. Dimensional Fund Advisors LP increased its stake in Generac by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,647,288 shares of the technology company’s stock valued at $81,870,000 after acquiring an additional 33,794 shares during the period. Principal Financial Group Inc. grew its stake in Generac by 35.2% during the fourth quarter. Principal Financial Group Inc. now owns 53,034 shares of the technology company’s stock worth $2,636,000 after buying an additional 13,810 shares during the last quarter. Legal & General Group Plc grew its stake in Generac by 13.8% during the fourth quarter. Legal & General Group Plc now owns 48,500 shares of the technology company’s stock worth $2,410,000 after buying an additional 5,887 shares during the last quarter. Amalgamated Bank grew its stake in Generac by 150.1% during the fourth quarter. Amalgamated Bank now owns 8,910 shares of the technology company’s stock worth $443,000 after buying an additional 5,347 shares during the last quarter. Finally, Norges Bank bought a new stake in Generac during the fourth quarter worth about $34,945,000. Institutional investors own 94.54% of the company’s stock.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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Earnings History and Estimates for Generac (NYSE:GNRC)

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