Gates Industrial Corporation plc [GTES] stock is trading at $17.42, up 0.40%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The GTES shares have gain 0.87% over the last week, with a monthly amount glided 1.93%, and seem to be holding up well over a long-time horizon.
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On 10, April 2024, Gates Industrial Announces First-Quarter 2024 Earnings Release Date. In a post published today on Yahoo Finance, Gates Industrial Corporation plc (NYSE: GTES) will issue its first-quarter earnings release before the market opens on Wednesday, May 1, 2024. Management will host a webcast and conference call on the same day at 10:00 a.m. Eastern time to discuss Gates Industrial’s financial results. The conference call can be accessed as follows:.
From an analyst’s perspective:
Gates Industrial Corporation plc [NYSE: GTES] stock has seen the most recent analyst activity on March 08, 2024, when Wolfe Research upgraded its rating to a Outperform but kept the price target unchanged to $20 for it. Previously, Jefferies started tracking the stock with Buy rating on February 29, 2024, and set its price target to $21. On February 22, 2024, upgrade upgraded it’s rating to Overweight but maintained its price target of $18 on the stock. Goldman downgraded its rating to a Neutral but stick to its price target of $14.50 on June 20, 2023. KeyBanc Capital Markets downgraded its rating to a Sector Weight. Evercore ISI downgraded its rating to In-line for this stock on August 11, 2022, and downed its price target to $13.50. In a note dated June 01, 2022, RBC Capital Mkts downgraded an Sector Perform rating on this stock and revised its target price from $17 to $14.
Gates Industrial Corporation plc [GTES] stock has fluctuated between $10.68 and $17.86 over the past year. Currently, Wall Street analysts expect the stock to reach $16.57 within the next 12 months. Gates Industrial Corporation plc [NYSE: GTES] shares were valued at $17.42 at the most recent close of the market. An investor can expect a potential drop of -4.88% based on the average GTES price forecast.
Analyzing the GTES fundamentals
Gates Industrial Corporation plc [NYSE:GTES] reported sales of 3.57B for the trailing twelve months, which represents a drop of -3.36%. Gross Profit Margin for this corporation currently stands at 0.38% with Operating Profit Margin at 0.13%, Pretax Profit Margin comes in at 0.08%, and Net Profit Margin reading is 0.07%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.07 and Total Capital is 0.07. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.8.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 17.24 points at the first support level, and at 17.06 for the second support level. However, for the 1st resistance point, the stock is sitting at 17.57, and for the 2nd resistance point, it is at 17.73.
Gates Industrial Corporation plc [GTES] reported earnings per share of $0.39 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.28/share, meaning a difference of $0.11 and a surprise factor of 39.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.35 per share as compared to estimates of $0.31 per share, a difference of $0.04 representing a surprise of 12.90%.
Ratios To Look Out For
For context, Gates Industrial Corporation plc’s Current Ratio is 3.08. Also, the Quick Ratio is 2.25, while the Cash Ratio stands at 0.92. Considering the valuation of this stock, the price to sales ratio is 1.29, the price to book ratio is 1.43 and price to earnings (TTM) ratio is 20.38.
Transactions by insiders
Recent insider trading involved Neely Wilson S, Director, that happened on Feb 28 ’24 when 50000.0 shares were purchased. Director, Neely Wilson S completed a deal on Feb 20 ’24 to buy 10000.0 shares. Meanwhile, Director SIMPKINS NEIL P bought 1.0 million shares on Feb 16 ’24.
