Brokers Set Expectations for Gentex FY2024 Earnings

Gentex Co. (NASDAQ:GNTX) – Equities researchers at Seaport Res Ptn issued their FY2024 EPS estimates for Gentex in a research report issued to clients and investors on Monday, October 28th. Seaport Res Ptn analyst G. Chin anticipates that the auto parts company will post earnings per share of $1.85 for the year. The consensus estimate for Gentex’s current full-year earnings is $1.94 per share. Seaport Res Ptn also issued estimates for Gentex’s Q4 2024 earnings at $0.48 EPS and FY2025 earnings at $2.04 EPS.

A number of other brokerages also recently issued reports on GNTX. The Goldman Sachs Group lowered their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Bank of America cut their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research note on Tuesday, July 30th. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Finally, B. Riley decreased their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Gentex currently has an average rating of “Hold” and a consensus target price of $36.00.

Gentex Price Performance

NASDAQ GNTX opened at $31.11 on Thursday. The company’s 50 day simple moving average is $29.99 and its two-hundred day simple moving average is $32.12. Gentex has a 1 year low of $28.25 and a 1 year high of $37.58. The stock has a market capitalization of $7.19 billion, a PE ratio of 16.46, a P/E/G ratio of 0.91 and a beta of 0.92.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.40%.

Insider Buying and Selling

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the transaction, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gentex

A number of large investors have recently made changes to their positions in the business. Phoenix Wealth Advisors raised its holdings in Gentex by 3.1% in the 2nd quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock worth $344,000 after purchasing an additional 306 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Gentex by 0.9% in the first quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock worth $1,530,000 after buying an additional 370 shares during the period. United Services Automobile Association lifted its holdings in Gentex by 2.5% in the second quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock worth $588,000 after buying an additional 427 shares during the period. Harfst & Associates Inc. boosted its position in Gentex by 0.7% during the 2nd quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company’s stock valued at $2,248,000 after acquiring an additional 450 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Gentex by 4.0% during the 2nd quarter. Blue Trust Inc. now owns 12,434 shares of the auto parts company’s stock worth $449,000 after acquiring an additional 475 shares during the period. 86.76% of the stock is currently owned by institutional investors.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.