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Gates Industrial Corporation plc (NYSE: GTES) Stock: Instant Disaster Or Awesome Opportunity?

In the last trading session, 24.92 million shares of the Gates Industrial Corporation plc (NYSE:GTES) were traded, and its beta was 1.55. Most recently the company’s share price was $11.53, and it changed around -$0.31 or -2.62% from the last close, which brings the market valuation of the company to $3.28B. GTES currently trades at a discount to its 52-week high of $14.93, offering almost -29.49% off that amount. The share price’s 52-week low was $9.40, which indicates that the current value has risen by an impressive 18.47% since then. We note from Gates Industrial Corporation plc’s average daily trading volume that its 10-day average is 5.1 million shares, with the 3-month average coming to 989.45K.

Gates Industrial Corporation plc stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.40. If we narrow it down even further, the data shows that 0 out of 12 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 7 recommended GTES as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Gates Industrial Corporation plc is expected to report earnings per share of $0.32 for the current quarter.

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Gates Industrial Corporation plc (NYSE:GTES) trade information

Instantly GTES has showed a red trend with a performance of -2.62% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 13.21 on Tuesday, 05/23/23 increased the stock’s daily price by 12.72%. The company’s shares are currently up 1.05% year-to-date, but still down -13.57% over the last five days. On the other hand, Gates Industrial Corporation plc (NYSE:GTES) is -13.31% down in the 30-day period. We can see from the shorts that 3.47 million shares have been sold at a short interest cover period of 7.15 day(s).

The consensus price target as assigned by Wall Street analysts is $16.65, which translates to bulls needing to increase their stock price by 30.75% from its current value. Analyst projections state that GTES is forecast to be at a low of $14.00 and a high of $22.00. In order for the stock price to hit the forecast high, the stock would need to plunge -90.81% from its current level, while the stock would need to crash -21.42% from its current level to reach the projected low.

Gates Industrial Corporation plc (GTES) estimates and forecasts

Gates Industrial Corporation plc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -0.17 percent over the past six months and at a 3.51% annual growth rate that is well below the industry average of 13.50%. The year-over-year growth rate is expected to be 2.70%, up from the previous year.

Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $935.29 million in revenue for the current quarter. 6 analysts expect Gates Industrial Corporation plc to make $898 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $906.8 million and $889.36 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 3.10%. Forecasts for the next quarter put sales growth at 1.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 42.80%. Gates Industrial Corporation plc earnings are expected to increase by -23.00% in 2023, but the outlook is positive 9.30% per year for the next five years.

GTES Dividends

Gates Industrial Corporation plc’s next quarterly earnings report is expected to be released around August 03 and August 07.

Gates Industrial Corporation plc (NYSE:GTES)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.36% of Gates Industrial Corporation plc shares, and 101.57% of them are in the hands of institutional investors. The stock currently has a share float of 101.93%. Gates Industrial Corporation plc stock is held by 261 institutions, with Blackstone Inc being the largest institutional investor. By Mar 30, 2023, it held 62.66% of the shares, which is about 178.59 million shares worth $2.06 billion.

Vanguard Group, Inc. (The), with 3.38% or 9.63 million shares worth $111.03 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Allspring Special Mid Cap Value Fund and American Century Small Cap Value Fund were the top two Mutual Funds as of Feb 27, 2023. The former held 8.13 million shares worth $93.7 million, making up 2.88% of all outstanding shares. On the other hand, American Century Small Cap Value Fund held roughly 5.68 million shares worth around $65.55 million, which represents about 2.01% of the total shares outstanding.

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