Gentex Corporation (NASDAQ:GNTX) Announces $0.12 Quarterly Dividend

Gentex Corporation (NASDAQ:GNTX – Get Free Report) announced a quarterly dividend on Monday, August 31st. Stockholders of record on Wednesday, October 7th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, October 21st. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, October 7th.

Gentex has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gentex to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.1%.

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Gentex Stock Performance

Gentex stock opened at $22.37 on Tuesday. Gentex has a one year low of $20.48 and a one year high of $29.38. The stock has a market cap of $4.76 billion, a PE ratio of 11.84 and a beta of 0.79. The stock has a 50-day moving average of $23.97 and a two-hundred day moving average of $23.46.

Gentex (NASDAQ:GNTX – Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. The firm had revenue of $651.30 million during the quarter, compared to analyst estimates of $669.65 million. Gentex had a net margin of 15.50% and a return on equity of 16.78%. Gentex’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.43 EPS. As a group, sell-side analysts predict that Gentex will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on GNTX. Freedom Capital downgraded Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their price target on Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, August 10th. Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group reissued a “neutral” rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Finally, Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.80.

Read Our Latest Analysis on GNTX

About Gentex

(Get Free Report)

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).

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