Generac (NYSE:GNRC) Announces Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Generac (NYSE:GNRC) announced its quarterly earnings results on Wednesday. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.15, RTT News reports. The business had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. Generac had a return on equity of 14.68% and a net margin of 5.68%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Generac updated its FY 2024 guidance to EPS.

Generac Trading Down 0.7 %

Shares of GNRC stock traded down $1.13 during trading hours on Wednesday, reaching $154.44. The company had a trading volume of 1,512,337 shares, compared to its average volume of 995,311. Generac has a 1-year low of $79.86 and a 1-year high of $169.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.97. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 42.86, a P/E/G ratio of 2.10 and a beta of 1.37. The company has a 50 day moving average of $144.92 and a 200 day moving average of $131.81.

Analyst Ratings Changes

Several brokerages have recently commented on GNRC. StockNews.com cut Generac from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Canaccord Genuity Group raised their target price on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, April 5th. JPMorgan Chase & Co. upped their price objective on shares of Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Roth Mkm increased their price objective on shares of Generac from $135.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Guggenheim downgraded shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 target price on the stock. in a research note on Thursday, May 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $144.74.

Insider Buying and Selling

In other Generac news, Director Nam Tran Nguyen sold 546 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $140.55, for a total value of $76,740.30. Following the sale, the director now directly owns 3,512 shares in the company, valued at $493,611.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $133.39, for a total value of $666,950.00. Following the completion of the transaction, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nam Tran Nguyen sold 546 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $140.55, for a total value of $76,740.30. Following the sale, the director now directly owns 3,512 shares in the company, valued at approximately $493,611.60. The disclosure for this sale can be found here. Insiders sold a total of 75,785 shares of company stock valued at $11,020,661 over the last three months. Company insiders own 2.80% of the company’s stock.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.