Analysts Expect Gates Industrial Corp PLC (GTES) to Announce $0.29 EPS

Analysts predict that Gates Industrial Corp PLC (NYSE:GTES) will announce earnings per share (EPS) of $0.29 for the current quarter, Zacks reports. Two analysts have made estimates for Gates Industrial’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.30. Gates Industrial reported earnings of $0.25 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The firm is scheduled to announce its next quarterly earnings results 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 fiscal year, with EPS estimates ranging from $1.25 to $1.35. For the next year, analysts forecast that the company will post earnings of $1.42 per share, with EPS estimates ranging from $1.39 to $1.48. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Gates Industrial.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Tuesday, February 12th. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.09. The company 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%. The firm’s revenue was up 1.4% compared to the same quarter last year.

GTES has been the topic of several research analyst reports. ValuEngine raised shares of Gates Industrial from a “sell” rating to a “hold” rating in a research report on Saturday, February 23rd. Zacks Investment Research raised shares of Gates Industrial from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Tuesday, January 8th. Morgan Stanley set a $16.00 price target on shares of Gates Industrial and gave the stock a “hold” rating in a research report on Thursday, February 14th. Finally, Barclays lowered their price target on shares of Gates Industrial from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, December 17th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $18.40.

Shares of GTES traded up $0.28 during trading hours on Friday, hitting $15.60. The company had a trading volume of 350,653 shares, compared to its average volume of 353,692. The firm has a market capitalization of $4.43 billion, a PE ratio of 12.19 and a beta of 1.73. Gates Industrial has a 12 month low of $12.19 and a 12 month high of $20.29. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.67 and a quick ratio of 1.88.

A number of institutional investors have recently made changes to their positions in the business. Blackstone Group L.P. grew its stake 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 buying an additional 22,887,900 shares in the last quarter. Alliancebernstein L.P. boosted its position in Gates Industrial by 27.7% during the third quarter. Alliancebernstein L.P. now owns 4,154,804 shares of the company’s stock worth $81,019,000 after purchasing an additional 900,726 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Gates Industrial by 22.2% during the third quarter. JPMorgan Chase & Co. now owns 3,791,057 shares of the company’s stock worth $73,926,000 after purchasing an additional 688,672 shares in the last quarter. Vanguard Group Inc. boosted its position in Gates Industrial by 2.2% during the third quarter. Vanguard Group Inc. now owns 3,717,755 shares of the company’s stock worth $72,497,000 after purchasing an additional 79,008 shares in the last quarter. Finally, Vanguard Group Inc boosted its position in Gates Industrial by 2.2% during the third quarter. Vanguard Group Inc now owns 3,717,755 shares of the company’s stock worth $72,497,000 after purchasing an additional 79,008 shares in the last quarter.

Gates Industrial Company Profile

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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Earnings History and Estimates for Gates Industrial (NYSE:GTES)

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