Gates Industrial (NYSE:GTES) Releases Quarterly Earnings Results, Hits Expectations

Gates Industrial (NYSE:GTES) released its earnings results on Thursday. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33, Zacks reports. Gates Industrial had a net margin of 6.43% and a return on equity of 9.94%. Gates Industrial updated its FY 2025 guidance to 1.360-1.520 EPS.

Gates Industrial Price Performance

GTES stock traded up $2.43 during trading on Thursday, hitting $23.20. The stock had a trading volume of 6,240,810 shares, compared to its average volume of 2,267,539. Gates Industrial has a 1-year low of $12.40 and a 1-year high of $23.34. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 27.95 and a beta of 1.37. The company’s 50 day moving average price is $20.99 and its two-hundred day moving average price is $19.22. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.11 and a current ratio of 3.02.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GTES. KeyCorp boosted their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Citigroup lowered their target price on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group lifted their price target on shares of Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Jefferies Financial Group upped their price target on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Barclays raised Gates Industrial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $21.00 to $25.00 in a report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.50.

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.