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

Global Industrial (NYSE:GIC) – William Blair dropped their FY2024 earnings per share estimates for shares of Global Industrial in a note issued to investors on Tuesday, October 8th. William Blair analyst R. Merkel now anticipates that the company will post earnings of $2.01 per share for the year, down from their prior estimate 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 Up 2.1 %

Shares of GIC opened at $32.85 on Thursday. The business’s 50-day moving average price is $32.69 and its 200-day moving average price is $34.86. Global Industrial has a twelve month low of $30.13 and a twelve month high of $46.97. The stock has a market cap of $1.25 billion, a PE ratio of 18.25, a P/E/G ratio of 1.05 and a beta of 0.83.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. The business had revenue of $347.80 million for the quarter, compared to analysts’ expectations of $348.84 million. During the same period in the previous year, the business posted $0.56 EPS.

Global Industrial Announces Dividend

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

Institutional Investors Weigh In On Global Industrial

Several hedge funds and other institutional investors have recently modified their holdings of GIC. Point72 Asset Management L.P. increased its position in shares of Global Industrial by 173.0% in the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after purchasing an additional 2,249 shares during the last quarter. National Bank of Canada FI increased its position in shares of Global Industrial by 41.8% in the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock worth $153,000 after purchasing an additional 1,472 shares during the last quarter. Leeward Financial Partners LLC bought a new position in shares of Global Industrial in the first quarter worth approximately $224,000. The Manufacturers Life Insurance Company increased its position in shares of Global Industrial by 12.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock worth $252,000 after purchasing an additional 919 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Global Industrial in the second quarter worth approximately $268,000. 31.19% of the stock is currently owned by institutional investors.

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.