Global Industrial (NYSE:GIC) Forecasted to Earn FY2024 Earnings of $2.01 Per Share

Global Industrial (NYSE:GIC) – William Blair lowered their FY2024 EPS estimates for shares of Global Industrial in a note issued to investors on Tuesday, October 8th. William Blair analyst R. Merkel now forecasts that the company will post earnings per share of $2.01 for the year, down from their previous forecast of $2.08. The consensus estimate for Global Industrial’s current full-year earnings is $1.94 per share. William Blair also issued estimates for Global Industrial’s Q1 2025 earnings at $0.34 EPS, Q2 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.47 EPS.

Global Industrial Stock Performance

Global Industrial stock opened at $32.85 on Thursday. Global Industrial has a 52-week low of $30.13 and a 52-week high of $46.97. The firm has a 50 day moving average price of $32.69 and a two-hundred day moving average price of $34.86. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.05 and a beta of 0.83.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, July 30th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Global Industrial had a net margin of 5.16% and a return on equity of 26.82%. The business had revenue of $347.80 million for the quarter, compared to the consensus estimate of $348.84 million. During the same period last year, the company earned $0.56 EPS.

Institutional Trading of Global Industrial

Hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its position in Global Industrial by 173.0% in the 2nd 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 period. National Bank of Canada FI grew its position in Global Industrial by 41.8% in the 2nd quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after purchasing an additional 1,472 shares during the period. Leeward Financial Partners LLC acquired a new stake in Global Industrial in the 1st quarter valued at $224,000. Gallacher Capital Management LLC acquired a new stake in Global Industrial in the 1st quarter valued at $324,000. Finally, The Manufacturers Life Insurance Company grew its position in Global Industrial by 12.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock valued at $252,000 after purchasing an additional 919 shares during the period. Institutional investors own 31.19% of the company’s stock.

Global Industrial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 3.04%. Global Industrial’s dividend payout ratio is currently 55.56%.

Global Industrial Company Profile

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.