Generac (GNRC) Set to Announce Quarterly Earnings on Wednesday

Generac (NYSE:GNRC) is scheduled to post its quarterly earnings results before the market opens on Wednesday, July 31st. Analysts expect Generac to post earnings of $1.23 per share for the quarter. Generac has set its FY 2024 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The company had revenue of $889.27 million during the quarter, compared to the consensus estimate of $886.60 million. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts expect Generac to post $6 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Generac Price Performance

Shares of GNRC opened at $155.42 on Tuesday. The stock has a 50 day simple moving average of $144.89 and a 200 day simple moving average of $131.58. Generac has a 52-week low of $79.86 and a 52-week high of $161.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. The firm has a market capitalization of $9.42 billion, a PE ratio of 42.82, a P/E/G ratio of 2.16 and a beta of 1.37.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Scotiabank upped their price target on shares of Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday. Canaccord Genuity Group upped their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Piper Sandler lifted their price target on Generac from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. StockNews.com cut Generac from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Truist Financial lifted their target price on Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Generac currently has a consensus rating of “Hold” and a consensus target price of $144.74.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the sale, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Erik Wilde sold 4,384 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $154.04, for a total value of $675,311.36. Following the completion of the transaction, the executive vice president now directly owns 17,897 shares in the company, valued at approximately $2,756,853.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $133.39, for a total value of $666,950.00. Following the sale, the chief executive officer now owns 577,177 shares in the company, valued at approximately $76,989,640.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,785 shares of company stock valued at $11,720,411. 2.80% of the stock is owned by company insiders.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.