Gates Industrial (NYSE:GTES – Get Free Report) is set to announce its earnings results before the market opens on Wednesday, July 31st. Analysts expect the company to announce earnings of $0.33 per share for the quarter. Gates Industrial has set its FY24 guidance at $1.28-1.43 EPS.Investors interested in listening to the company’s conference call can do so using this link.
Gates Industrial (NYSE:GTES – Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $862.60 million during the quarter, compared to the consensus estimate of $866.00 million. Gates Industrial had a return on equity of 10.52% and a net margin of 6.97%. On average, analysts expect Gates Industrial to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Gates Industrial Price Performance
GTES stock opened at $17.75 on Tuesday. The company has a market capitalization of $4.64 billion, a P/E ratio of 19.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.15 and a current ratio of 3.06. Gates Industrial has a 52-week low of $10.68 and a 52-week high of $17.99. The business has a 50-day simple moving average of $16.58 and a two-hundred day simple moving average of $15.98.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on GTES
Insider Transactions at Gates Industrial
In related news, major shareholder Blackstone Inc. sold 20,125,000 shares of Gates Industrial stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $16.33, for a total value of $328,641,250.00. Following the sale, the insider now owns 77,326 shares of the company’s stock, valued at approximately $1,262,733.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.
About Gates Industrial
Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.
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