Research Analysts Offer Predictions for GIC FY2024 Earnings

Global Industrial (NYSE:GIC) – Research analysts at Sidoti Csr cut their FY2024 earnings per share estimates for Global Industrial in a research report issued to clients and investors on Wednesday, October 30th. Sidoti Csr analyst A. Lebiedzinski now anticipates that the company will post earnings per share of $1.60 for the year, down from their previous forecast of $1.86. The consensus estimate for Global Industrial’s current full-year earnings is $1.81 per share. Sidoti Csr also issued estimates for Global Industrial’s Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.56 EPS, Q1 2026 earnings at $0.45 EPS, Q2 2026 earnings at $0.62 EPS, Q3 2026 earnings at $0.65 EPS and FY2026 earnings at $2.20 EPS.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.14). Global Industrial had a return on equity of 24.93% and a net margin of 4.92%. The company had revenue of $342.40 million during the quarter, compared to the consensus estimate of $353.44 million. During the same period last year, the business earned $0.54 EPS.

Global Industrial Trading Up 0.6 %

NYSE:GIC opened at $26.68 on Thursday. Global Industrial has a 12-month low of $25.00 and a 12-month high of $46.97. The stock has a 50-day moving average price of $32.70 and a 200 day moving average price of $33.63. The stock has a market capitalization of $1.02 billion, a P/E ratio of 15.69, a P/E/G ratio of 0.91 and a beta of 0.83.

Institutional Trading of Global Industrial

Several institutional investors have recently made changes to their positions in GIC. Vanguard Group Inc. grew its position in shares of Global Industrial by 137.3% during the first quarter. Vanguard Group Inc. now owns 717,231 shares of the company’s stock worth $32,118,000 after purchasing an additional 414,924 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Global Industrial during the first quarter worth about $3,824,000. Mawer Investment Management Ltd. grew its position in shares of Global Industrial by 3.2% during the first quarter. Mawer Investment Management Ltd. now owns 2,002,426 shares of the company’s stock worth $89,669,000 after purchasing an additional 62,777 shares in the last quarter. Millennium Management LLC grew its position in shares of Global Industrial by 79.4% during the second quarter. Millennium Management LLC now owns 126,107 shares of the company’s stock worth $3,955,000 after purchasing an additional 55,801 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Global Industrial during the second quarter worth about $1,017,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, November 8th. Global Industrial’s dividend payout ratio is currently 58.82%.

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.