Garrett Motion (NYSE:GTX – Get Free Report) announced its earnings results on Thursday. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04, Zacks reports. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. The business had revenue of $890.00 million during the quarter, compared to the consensus estimate of $950.00 million. During the same period in the prior year, the company posted ($1.88) EPS. Garrett Motion updated its FY 2024 guidance to EPS.
Garrett Motion Trading Up 8.7 %
NYSE GTX traded up $0.70 on Friday, reaching $8.76. 1,888,893 shares of the company were exchanged, compared to its average volume of 837,781. The business’s fifty day moving average price is $8.88 and its 200 day moving average price is $9.19. The stock has a market capitalization of $1.98 billion, a P/E ratio of -7.62 and a beta of 1.21. Garrett Motion has a fifty-two week low of $6.43 and a fifty-two week high of $10.16.
Insiders Place Their Bets
In other news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $10.01, for a total transaction of $37,827.79. Following the transaction, the insider now owns 27,337,398 shares of the company’s stock, valued at approximately $273,647,353.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on Garrett Motion
About Garrett Motion
Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.
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