Brokerages Anticipate Gates Industrial Corp PLC (GTES) to Announce $0.29 EPS

Brokerages predict that Gates Industrial Corp PLC (NYSE:GTES) will announce earnings of $0.29 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Gates Industrial’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.30. Gates Industrial posted earnings per share of $0.25 in the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The company is expected to issue its next earnings results on Wednesday, May 1st.

According to Zacks, analysts expect that Gates Industrial will report full year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.25 to $1.35. For the next financial year, analysts anticipate that the company will report earnings of $1.42 per share, with EPS estimates ranging from $1.39 to $1.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Gates Industrial.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Tuesday, February 12th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. Gates Industrial had a net margin of 7.33% and a return on equity of 16.23%. The firm had revenue of $792.10 million during the quarter, compared to analysts’ expectations of $825.54 million. The company’s revenue was up 1.4% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the stock. ValuEngine cut shares of Gates Industrial from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. Morgan Stanley cut shares of Gates Industrial from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $19.00 to $15.00 in a research report on Tuesday, December 18th. Barclays lowered their price target on shares of Gates Industrial from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, December 17th. Finally, Zacks Investment Research cut shares of Gates Industrial from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.40.

Large investors have recently bought and sold shares of the stock. Stone Ridge Asset Management LLC lifted its position in Gates Industrial by 51.9% during the fourth quarter. Stone Ridge Asset Management LLC now owns 55,137 shares of the company’s stock valued at $730,000 after acquiring an additional 18,835 shares during the last quarter. Diversified Trust Co lifted its position in Gates Industrial by 7.2% during the fourth quarter. Diversified Trust Co now owns 12,980 shares of the company’s stock valued at $172,000 after acquiring an additional 870 shares during the last quarter. Wells Fargo & Company MN lifted its position in Gates Industrial by 9.5% during the third quarter. Wells Fargo & Company MN now owns 117,771 shares of the company’s stock valued at $2,296,000 after acquiring an additional 10,184 shares during the last quarter. Man Group plc lifted its position in Gates Industrial by 571.2% during the third quarter. Man Group plc now owns 78,715 shares of the company’s stock valued at $1,535,000 after acquiring an additional 66,987 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its position in Gates Industrial by 45.7% during the third quarter. Federated Investors Inc. PA now owns 578,700 shares of the company’s stock valued at $11,285,000 after acquiring an additional 181,484 shares during the last quarter.

Shares of GTES traded down $0.18 during mid-day trading on Friday, hitting $14.34. The company’s stock had a trading volume of 319,023 shares, compared to its average volume of 213,776. Gates Industrial has a 52-week low of $12.19 and a 52-week high of $20.29. The stock has a market capitalization of $4.12 billion, a PE ratio of 11.20 and a beta of 1.73. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.88 and a current ratio of 2.67.

About Gates Industrial

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.

See Also: Systematic Risk

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Earnings History and Estimates for Gates Industrial (NYSE:GTES)

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