William Blair Cuts Earnings Estimates for Global Industrial

Global Industrial (NYSE:GIC) – Research analysts at William Blair cut their Q4 2024 earnings estimates for shares of Global Industrial in a note issued to investors on Tuesday, October 29th. William Blair analyst R. Merkel now expects that the company will post earnings per share of $0.32 for the quarter, down from their prior estimate of $0.40. The consensus estimate for Global Industrial’s current full-year earnings is $1.94 per share. William Blair also issued estimates for Global Industrial’s Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.58 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.44 EPS, FY2025 earnings at $1.94 EPS and FY2026 earnings at $2.12 EPS.

Global Industrial Stock Performance

Shares of Global Industrial stock opened at $26.33 on Thursday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The stock has a 50 day moving average price of $32.97 and a 200-day moving average price of $33.79. Global Industrial has a one year low of $25.00 and a one year high of $46.97.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $347.80 million for the quarter, compared to the consensus estimate of $348.84 million. Global Industrial had a return on equity of 26.82% and a net margin of 5.16%. During the same period in the prior year, the business posted $0.56 earnings per share.

Institutional Investors Weigh In On Global Industrial

Several hedge funds and other institutional investors have recently made changes to their positions in GIC. Copeland Capital Management LLC purchased a new position in shares of Global Industrial during the 3rd quarter worth about $61,000. Point72 Asset Management L.P. lifted its stake in Global Industrial by 173.0% in the second quarter. Point72 Asset Management L.P. now owns 3,549 shares of the company’s stock worth $111,000 after purchasing an additional 2,249 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Global Industrial by 41.8% during the second quarter. National Bank of Canada FI now owns 4,994 shares of the company’s stock valued at $153,000 after buying an additional 1,472 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Global Industrial by 12.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,022 shares of the company’s stock valued at $252,000 after buying an additional 919 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Global Industrial during the second quarter valued at approximately $268,000. Hedge funds and other institutional investors own 31.19% of the company’s stock.

Global Industrial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, November 8th. Global Industrial’s dividend payout ratio (DPR) is 58.82%.

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.