Gentex Corporation (NASDAQ:GNTX) – FBR & Co dropped their Q3 2017 earnings per share estimates for shares of Gentex Corporation in a research report issued to clients and investors on Monday. FBR & Co analyst C. Horn now forecasts that the auto parts company will post earnings of $0.33 per share for the quarter, down from their prior estimate of $0.34. FBR & Co currently has a “Outperform” rating and a $25.00 target price on the stock. FBR & Co also issued estimates for Gentex Corporation’s FY2017 earnings at $1.29 EPS, Q2 2018 earnings at $0.35 EPS and FY2018 earnings at $1.45 EPS.
Several other equities analysts have also recently commented on GNTX. BMO Capital Markets reaffirmed an “outperform” rating and issued a $22.00 price target (down previously from $25.00) on shares of Gentex Corporation in a report on Monday. Craig Hallum cut Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a report on Monday. Wellington Shields cut Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. Finally, Zacks Investment Research raised Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Gentex Corporation currently has an average rating of “Hold” and a consensus price target of $21.75.
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Gentex Corporation (GNTX) opened at 16.94 on Tuesday. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 13.44 and a beta of 1.19. The stock has a 50 day moving average price of $18.60 and a 200 day moving average price of $20.03. Gentex Corporation has a 12 month low of $16.06 and a 12 month high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last issued its earnings results on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by $0.01. The firm had revenue of $443.10 million during the quarter, compared to analyst estimates of $446.36 million. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. Gentex Corporation’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS.
Institutional investors have recently modified their holdings of the company. Profund Advisors LLC raised its stake in Gentex Corporation by 5.6% in the first quarter. Profund Advisors LLC now owns 40,105 shares of the auto parts company’s stock worth $855,000 after buying an additional 2,119 shares during the period. Hollencrest Securities LLC acquired a new stake in Gentex Corporation during the first quarter worth approximately $297,000. Nationwide Fund Advisors raised its stake in Gentex Corporation by 0.8% in the first quarter. Nationwide Fund Advisors now owns 479,673 shares of the auto parts company’s stock worth $10,231,000 after buying an additional 3,649 shares during the period. Cape Cod Five Cents Savings Bank acquired a new stake in Gentex Corporation during the first quarter worth approximately $919,000. Finally, Reliance Trust Co. of Delaware acquired a new stake in Gentex Corporation during the first quarter worth approximately $254,000. 82.83% of the stock is owned by institutional investors and hedge funds.
In other news, Director Frederick A. Sotok sold 19,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $20.84, for a total value of $395,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Mulder sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $19.22, for a total value of $192,200.00. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 19th. Stockholders of record on Thursday, July 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This is a boost from Gentex Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.36%. Gentex Corporation’s dividend payout ratio is presently 31.50%.
About Gentex Corporation
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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