Gentex Co. (NASDAQ:GNTX) Declares $0.12 Quarterly Dividend

Gentex Co. (NASDAQ:GNTX) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Investors of record on Wednesday, April 9th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, April 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Wednesday, April 9th.

Gentex has a dividend payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Gentex to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.3%.

Gentex Price Performance

Shares of Gentex stock opened at $24.32 on Friday. Gentex has a fifty-two week low of $24.07 and a fifty-two week high of $37.58. The firm has a market cap of $5.53 billion, a PE ratio of 13.82, a P/E/G ratio of 0.84 and a beta of 0.91. The business’s fifty day moving average is $26.70 and its two-hundred day moving average is $28.90.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period in the previous year, the business posted $0.50 EPS. Equities research analysts anticipate that Gentex will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GNTX shares. UBS Group cut their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. B. Riley reaffirmed a “buy” rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Guggenheim cut their target price on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. JPMorgan Chase & Co. lowered their price target on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 price target on Gentex in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.31.

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.