Q2 2024 Earnings Forecast for Global Industrial Issued By William Blair (NYSE:GIC)

Global Industrial (NYSE:GIC) – Investment analysts at William Blair lifted their Q2 2024 EPS estimates for shares of Global Industrial in a note issued to investors on Tuesday, March 26th. William Blair analyst R. Merkel now anticipates that the company will earn $0.57 per share for the quarter, up from their prior estimate of $0.56. The consensus estimate for Global Industrial’s current full-year earnings is $2.03 per share.

Global Industrial (NYSE:GIC) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $320.10 million for the quarter, compared to analysts’ expectations of $313.50 million. Global Industrial had a return on equity of 29.76% and a net margin of 5.55%.

Global Industrial Stock Performance

NYSE:GIC opened at $44.78 on Wednesday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 1.39 and a beta of 0.88. Global Industrial has a 52 week low of $20.52 and a 52 week high of $46.97. The firm’s 50-day simple moving average is $43.90 and its 200 day simple moving average is $38.41.

Global Industrial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.23%. This is an increase from Global Industrial’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 8th. Global Industrial’s payout ratio is presently 54.05%.

Insider Activity at Global Industrial

In other Global Industrial news, Vice Chairman Bruce Leeds sold 380,000 shares of Global Industrial stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.15, for a total value of $15,637,000.00. Following the completion of the transaction, the insider now directly owns 139,800 shares of the company’s stock, valued at approximately $5,752,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 66.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Global Industrial

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of Global Industrial by 122.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the company’s stock valued at $27,000 after purchasing an additional 559 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Global Industrial by 116.1% during the 1st quarter. Citigroup Inc. now owns 1,113 shares of the company’s stock valued at $30,000 after purchasing an additional 598 shares during the last quarter. Royal Bank of Canada increased its position in Global Industrial by 155.1% during the 3rd quarter. Royal Bank of Canada now owns 2,008 shares of the company’s stock worth $54,000 after purchasing an additional 1,221 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Global Industrial in the 2nd quarter valued at approximately $64,000. Finally, Lazard Asset Management LLC grew its stake in shares of Global Industrial by 107.9% during the fourth quarter. Lazard Asset Management LLC now owns 2,958 shares of the company’s stock worth $69,000 after buying an additional 1,535 shares during the last quarter. Institutional investors and hedge funds own 31.19% of the company’s stock.

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.