B. Riley Has Positive Estimate for Gentex FY2024 Earnings

Gentex Co. (NASDAQ:GNTX) – Research analysts at B. Riley lifted their FY2024 earnings per share estimates for shares of Gentex in a note issued to investors on Tuesday, January 21st. B. Riley analyst J. Nichols now forecasts that the auto parts company will post earnings per share of $1.84 for the year, up from their prior estimate of $1.82. The consensus estimate for Gentex’s current full-year earnings is $1.86 per share. B. Riley also issued estimates for Gentex’s Q4 2024 earnings at $0.46 EPS and FY2025 earnings at $2.01 EPS.

Other analysts also recently issued reports about the stock. Bank of America dropped their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. The Goldman Sachs Group dropped their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Robert W. Baird increased their price objective on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Finally, Guggenheim dropped their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.13.

Gentex Price Performance

GNTX stock opened at $27.97 on Thursday. The firm has a 50 day simple moving average of $29.23 and a two-hundred day simple moving average of $30.09. The stock has a market cap of $6.36 billion, a PE ratio of 14.96, a P/E/G ratio of 0.88 and a beta of 0.91. Gentex has a one year low of $26.58 and a one year high of $37.58.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.72%. Gentex’s payout ratio is 25.67%.

Hedge Funds Weigh In On Gentex

Large investors have recently bought and sold shares of the stock. Synergy Asset Management LLC bought a new position in shares of Gentex in the fourth quarter worth approximately $34,000. EverSource Wealth Advisors LLC raised its holdings in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after buying an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after buying an additional 1,269 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Gentex in the 3rd quarter worth $125,000. Finally, GAMMA Investing LLC increased its position in shares of Gentex by 159.1% in the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock valued at $147,000 after acquiring an additional 3,152 shares during the period. 86.76% of the stock is owned by hedge funds and other 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.