Q2 2024 Earnings Estimate for Global Industrial (NYSE:GIC) Issued By William Blair

Global Industrial (NYSE:GIC) – Equities research analysts at William Blair increased their Q2 2024 EPS estimates for Global Industrial in a note issued to investors on Tuesday, April 30th. William Blair analyst R. Merkel now anticipates that the company will post earnings per share of $0.58 for the quarter, up from their previous estimate of $0.57. The consensus estimate for Global Industrial’s current full-year earnings is $2.03 per share. William Blair also issued estimates for Global Industrial’s Q3 2024 earnings at $0.68 EPS, Q4 2024 earnings at $0.41 EPS and FY2024 earnings at $2.02 EPS.

Global Industrial Stock Performance

GIC opened at $34.51 on Thursday. The firm has a market cap of $1.32 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The business has a 50 day moving average price of $43.51 and a 200 day moving average price of $39.96. Global Industrial has a twelve month low of $20.52 and a twelve month high of $46.97.

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

Hedge Funds Weigh In On Global Industrial

A number of hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position in shares of Global Industrial by 520.0% during the 3rd quarter. FMR LLC now owns 409,721 shares of the company’s stock valued at $13,726,000 after acquiring an additional 343,633 shares in the last quarter. Mawer Investment Management Ltd. grew its stake in shares of Global Industrial by 2.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,967,554 shares of the company’s stock valued at $65,913,000 after purchasing an additional 51,028 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Global Industrial by 175.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 44,730 shares of the company’s stock worth $1,737,000 after buying an additional 28,520 shares in the last quarter. Strs Ohio bought a new position in shares of Global Industrial during the 3rd quarter worth approximately $616,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Global Industrial by 43.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 51,668 shares of the company’s stock worth $1,731,000 after buying an additional 15,527 shares during the period. Institutional investors and hedge funds own 31.19% of the company’s stock.

Insider Transactions at Global Industrial

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

Global Industrial Dividend Announcement

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

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.