Q2 2024 EPS Estimates for Global Industrial Cut by Sidoti Csr (NYSE:GIC)

Global Industrial (NYSE:GIC) – Sidoti Csr lowered their Q2 2024 earnings estimates for shares of Global Industrial in a report issued on Wednesday, May 1st. Sidoti Csr analyst A. Lebiedzinski now anticipates that the company will earn $0.48 per share for the quarter, down from their prior forecast of $0.57. The consensus estimate for Global Industrial’s current full-year earnings is $2.03 per share. Sidoti Csr also issued estimates for Global Industrial’s Q3 2024 earnings at $0.60 EPS, Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $1.90 EPS, Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.60 EPS and FY2025 earnings at $2.35 EPS.

Global Industrial (NYSE:GIC) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. Global Industrial had a net margin of 5.34% and a return on equity of 28.85%. The business had revenue of $320.10 million during the quarter, compared to analyst estimates of $313.50 million.

Global Industrial Stock Down 10.4 %

GIC stock opened at $34.51 on Thursday. Global Industrial has a twelve month low of $20.52 and a twelve month high of $46.97. The company has a market cap of $1.32 billion, a P/E ratio of 18.76, a PEG ratio of 1.19 and a beta of 0.92. The business has a fifty day moving average of $43.51 and a 200-day moving average of $39.96.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in Global Industrial by 520.0% in the third quarter. FMR LLC now owns 409,721 shares of the company’s stock valued at $13,726,000 after buying an additional 343,633 shares during the period. Mawer Investment Management Ltd. boosted its stake in Global Industrial by 2.7% during the 3rd quarter. Mawer Investment Management Ltd. now owns 1,967,554 shares of the company’s stock worth $65,913,000 after acquiring an additional 51,028 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Global Industrial by 175.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 44,730 shares of the company’s stock valued at $1,737,000 after purchasing an additional 28,520 shares during the period. Strs Ohio acquired a new position in Global Industrial during the third quarter valued at approximately $616,000. Finally, Panagora Asset Management Inc. raised its holdings in Global Industrial by 43.0% in the third quarter. Panagora Asset Management Inc. now owns 51,668 shares of the company’s stock worth $1,731,000 after purchasing an additional 15,527 shares during the period. 31.19% of the stock is currently owned by institutional investors.

Insider Activity

In other Global Industrial news, Vice Chairman Bruce Leeds sold 380,000 shares of Global Industrial stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.15, for a total transaction of $15,637,000.00. Following the completion of the sale, the insider now owns 139,800 shares of the company’s stock, valued at approximately $5,752,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 66.34% of the company’s stock.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.90%. Global Industrial’s payout ratio is presently 54.35%.

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.