Gentex (GNTX) Posts Quarterly Earnings Results

Gentex (NASDAQ:GNTX) released its quarterly earnings data on Wednesday, January 30th. The auto parts company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02), MarketWatch Earnings reports. Gentex had a net margin of 23.88% and a return on equity of 23.06%. The company had revenue of $453.40 million for the quarter, compared to analysts’ expectations of $477.41 million. During the same period last year, the company posted $0.46 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Gentex updated its FY 2019 guidance to EPS.

NASDAQ GNTX opened at $19.88 on Thursday. The stock has a market capitalization of $5.28 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.09. Gentex has a one year low of $17.80 and a one year high of $25.41.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 23rd. Investors of record on Wednesday, January 9th were issued a $0.11 dividend. The ex-dividend date was Tuesday, January 8th. This represents a $0.44 annualized dividend and a yield of 2.21%. Gentex’s payout ratio is 27.16%.

In other news, Director James H. Wallace sold 24,000 shares of Gentex stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $21.40, for a total transaction of $513,600.00. Following the transaction, the director now directly owns 29,400 shares of the company’s stock, valued at approximately $629,160. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Scott P. Ryan sold 3,000 shares of Gentex stock in a transaction dated Sunday, December 30th. The shares were sold at an average price of $19.88, for a total value of $59,640.00. Following the transaction, the general counsel now directly owns 22,513 shares in the company, valued at $447,558.44. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock worth $632,880 over the last three months. Insiders own 0.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of GNTX. Bremer Trust National Association purchased a new position in Gentex in the 4th quarter worth approximately $25,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Gentex in the 4th quarter worth approximately $27,000. Lindbrook Capital LLC purchased a new position in Gentex in the 4th quarter worth approximately $32,000. Enlightenment Research LLC purchased a new position in Gentex in the 4th quarter worth approximately $36,000. Finally, Parallel Advisors LLC lifted its holdings in Gentex by 728.0% in the 4th quarter. Parallel Advisors LLC now owns 2,310 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 2,031 shares in the last quarter. 85.90% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on GNTX shares. ValuEngine raised Gentex from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. BidaskClub upgraded Gentex from a “hold” rating to a “buy” rating in a report on Saturday, January 12th. Craig Hallum reiterated a “hold” rating and issued a $20.00 price objective on shares of Gentex in a report on Friday, October 19th. BMO Capital Markets decreased their price objective on Gentex from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, October 22nd. Finally, KeyCorp assumed coverage on Gentex in a report on Monday, December 10th. They issued a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.46.

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Gentex Company Profile

Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features 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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Earnings History for Gentex (NASDAQ:GNTX)

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