Gentex Co. Announces Quarterly Dividend of $0.12 (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Investors of record on Wednesday, April 9th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, April 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Wednesday, April 9th.

Gentex has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gentex to earn $2.15 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 22.3%.

Gentex Trading Down 1.0 %

Shares of Gentex stock opened at $22.14 on Monday. Gentex has a 1 year low of $21.56 and a 1 year high of $36.24. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.84 and a beta of 0.84. The company’s fifty day simple moving average is $24.70 and its 200-day simple moving average is $27.83.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same quarter in the prior year, the firm posted $0.50 earnings per share. As a group, research analysts forecast that Gentex will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GNTX shares. Robert W. Baird set a $31.00 target price on shares of Gentex in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their target price on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. B. Riley reiterated a “buy” rating and set a $32.50 target price (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. UBS Group reduced their price target on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, Guggenheim set a $30.00 target price on Gentex in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.81.

Gentex Company Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.