What is William Blair’s Forecast for GIC FY2024 Earnings?

Global Industrial (NYSE:GIC) – Research analysts at William Blair cut their FY2024 earnings per share (EPS) estimates for shares of Global Industrial in a research note issued on Thursday, January 2nd. William Blair analyst R. Merkel now forecasts that the company will earn $1.57 per share for the year, down from their prior forecast of $1.63. The consensus estimate for Global Industrial’s current full-year earnings is $1.62 per share. William Blair also issued estimates for Global Industrial’s Q4 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.33 EPS and FY2026 earnings at $1.84 EPS.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The business had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same quarter in the previous year, the company posted $0.54 earnings per share.

Global Industrial Stock Down 3.3 %

GIC stock opened at $23.96 on Friday. The stock has a 50-day simple moving average of $27.40 and a two-hundred day simple moving average of $30.93. The firm has a market capitalization of $916.01 million, a PE ratio of 14.09, a PEG ratio of 1.07 and a beta of 0.86. Global Industrial has a twelve month low of $23.93 and a twelve month high of $46.97.

Hedge Funds Weigh In On Global Industrial

Large investors have recently modified their holdings of the company. Rhumbline Advisers boosted its stake in shares of Global Industrial by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 19,749 shares of the company’s stock valued at $619,000 after purchasing an additional 397 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Global Industrial by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,803 shares of the company’s stock valued at $4,104,000 after purchasing an additional 456 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Global Industrial by 9.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,808 shares of the company’s stock worth $299,000 after acquiring an additional 786 shares during the period. National Bank of Canada FI grew its position in shares of Global Industrial by 41.8% in the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after buying an additional 1,472 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Global Industrial by 7.5% during the second quarter. Sei Investments Co. now owns 22,124 shares of the company’s stock valued at $694,000 after purchasing an additional 1,545 shares during the last quarter. 31.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total value of $165,155.20. Following the transaction, the insider now owns 23,675 shares of the company’s stock, valued at $669,529. This represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 65.30% of the stock is owned by company insiders.

Global Industrial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.17%. Global Industrial’s dividend payout ratio (DPR) is currently 58.82%.

About Global Industrial

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.