Global Industrial (NYSE:GIC) Forecasted to Post Q2 2024 Earnings of $0.45 Per Share

Global Industrial (NYSE:GIC) – Research analysts at Sidoti Csr dropped their Q2 2024 earnings estimates for Global Industrial in a research report issued on Monday, June 17th. Sidoti Csr analyst A. Lebiedzinski now expects that the company will post earnings per share of $0.45 for the quarter, down from their previous estimate of $0.48. The consensus estimate for Global Industrial’s current full-year earnings is $1.93 per share. Sidoti Csr also issued estimates for Global Industrial’s Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.46 EPS and FY2024 earnings at $1.84 EPS.

Global Industrial Trading Up 0.8 %

Global Industrial stock opened at $32.06 on Tuesday. The business has a 50-day moving average of $36.23 and a 200-day moving average of $39.80. Global Industrial has a 1 year low of $26.36 and a 1 year high of $46.97. The firm has a market capitalization of $1.22 billion, a P/E ratio of 17.42, a PEG ratio of 1.03 and a beta of 0.87.

Global Industrial (NYSE:GIC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The firm had revenue of $323.40 million during the quarter, compared to analyst estimates of $322.27 million. Global Industrial had a return on equity of 28.39% and a net margin of 5.34%.

Global Industrial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Friday, May 10th. Global Industrial’s dividend payout ratio is currently 54.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GIC. SG Americas Securities LLC grew its holdings in shares of Global Industrial by 45.5% during the 4th quarter. SG Americas Securities LLC now owns 4,447 shares of the company’s stock worth $173,000 after purchasing an additional 1,390 shares in the last quarter. Leeward Financial Partners LLC bought a new position in shares of Global Industrial during the first quarter worth about $224,000. Arizona State Retirement System bought a new position in shares of Global Industrial during the fourth quarter worth about $206,000. Summit Global Investments bought a new position in shares of Global Industrial during the fourth quarter worth about $255,000. Finally, Gallacher Capital Management LLC acquired a new stake in Global Industrial during the first quarter worth approximately $324,000. 31.19% of the stock is owned by institutional investors and hedge funds.

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.