Wall Street brokerages predict that Gates Industrial Corp PLC (NYSE:GTES) will announce $0.29 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Gates Industrial’s earnings, with estimates ranging from $0.27 to $0.30. Gates Industrial reported earnings of $0.25 per share in the same quarter last year, which indicates a positive year over year growth rate of 16%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 1st.
According to Zacks, analysts expect that Gates Industrial will report full year earnings of $1.31 per share for the current year, with EPS estimates ranging from $1.25 to $1.35. For the next year, analysts expect that the company will report earnings of $1.42 per share, with EPS estimates ranging from $1.39 to $1.48. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Gates Industrial.
Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Tuesday, February 12th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The firm had revenue of $792.10 million for the quarter, compared to analyst estimates of $825.54 million. Gates Industrial had a net margin of 7.33% and a return on equity of 16.23%. Gates Industrial’s revenue for the quarter was up 1.4% on a year-over-year basis.
A number of equities research analysts have weighed in on GTES shares. Zacks Investment Research raised Gates Industrial from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, January 8th. Morgan Stanley cut Gates Industrial from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $19.00 to $15.00 in a report on Tuesday, December 18th. Barclays decreased their price target on Gates Industrial from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, December 17th. Finally, ValuEngine raised Gates Industrial from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $18.40.
Gates Industrial stock traded up $0.08 during trading hours on Friday, reaching $15.76. 173,401 shares of the stock were exchanged, compared to its average volume of 253,523. The company has a market cap of $4.45 billion, a P/E ratio of 12.31 and a beta of 1.64. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.88 and a current ratio of 2.67. Gates Industrial has a 52-week low of $12.19 and a 52-week high of $20.29.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GTES. Blackstone Group L.P. boosted its position in Gates Industrial by 9.4% during the third quarter. Blackstone Group L.P. now owns 266,873,282 shares of the company’s stock worth $5,204,029,000 after purchasing an additional 22,887,900 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Gates Industrial by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 3,791,057 shares of the company’s stock valued at $73,926,000 after purchasing an additional 688,672 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Gates Industrial by 2.2% in the third quarter. Vanguard Group Inc. now owns 3,717,755 shares of the company’s stock valued at $72,497,000 after buying an additional 79,008 shares in the last quarter. Vanguard Group Inc increased its position in shares of Gates Industrial by 2.2% in the third quarter. Vanguard Group Inc now owns 3,717,755 shares of the company’s stock valued at $72,497,000 after buying an additional 79,008 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Gates Industrial by 1.8% in the third quarter. Neuberger Berman Group LLC now owns 2,989,279 shares of the company’s stock valued at $58,291,000 after buying an additional 53,564 shares in the last quarter.
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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