Brokers Issue Forecasts for Global Industrial’s Q3 2024 Earnings (NYSE:GIC)

Global Industrial (NYSE:GIC) – Stock analysts at William Blair reduced their Q3 2024 earnings per share (EPS) estimates for Global Industrial in a report issued on Tuesday, October 8th. William Blair analyst R. Merkel now expects that the company will earn $0.61 per share for the quarter, down from their previous forecast of $0.68. The consensus estimate for Global Industrial’s current full-year earnings is $1.97 per share. William Blair also issued estimates for Global Industrial’s Q4 2024 earnings at $0.40 EPS, Q3 2025 earnings at $0.73 EPS, FY2025 earnings at $2.09 EPS and FY2026 earnings at $2.33 EPS.

Global Industrial (NYSE:GIC) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $347.80 million during the quarter, compared to analysts’ expectations of $348.84 million. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. During the same quarter in the prior year, the business earned $0.56 EPS.

Global Industrial Trading Down 1.1 %

Shares of GIC stock opened at $32.18 on Wednesday. The firm has a fifty day simple moving average of $32.70 and a 200-day simple moving average of $34.94. The company has a market capitalization of $1.23 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.07 and a beta of 0.83. Global Industrial has a twelve month low of $30.13 and a twelve month high of $46.97.

Global Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 3.11%. Global Industrial’s payout ratio is currently 54.35%.

Institutional Trading of Global Industrial

Several large investors have recently modified their holdings of GIC. Point72 Asset Management L.P. boosted its holdings in Global Industrial by 173.0% in the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock valued at $111,000 after purchasing an additional 2,249 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Global Industrial by 41.8% during the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after buying an additional 1,472 shares during the last quarter. Leeward Financial Partners LLC purchased a new position in shares of Global Industrial during the 1st quarter valued at approximately $224,000. The Manufacturers Life Insurance Company grew its position in shares of Global Industrial by 12.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after buying an additional 919 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Global Industrial in the second quarter worth $268,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

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.