In recent trading session, Gates Industrial Corporation plc (NYSE:GTES) saw 4.65 million shares changing hands at last check today with its beta currently measuring 1.42. Company’s recent per share price level of $17.61 trading at $0.45 or 2.65% at last check today assigns it a market valuation of $4.61B. That most recent trading price of GTES’s stock is at a discount of -8.29% from its 52-week high price of $19.07 and is indicating a premium of 39.35% from its 52-week low price of $10.68. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.2 million shares which gives us an average trading volume of 3.59 million if we extend that period to 3-months.
For Gates Industrial Corporation plc (GTES), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 1.90. Splitting up the data highlights that, out of 7 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 4 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.31 in the current quarter.
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Gates Industrial Corporation plc (NYSE:GTES) trade information
Upright in the green today for gaining 2.65%, in the last five days GTES remained trading in the green while hitting it’s week-highest on Friday, 08/16/24 when the stock touched $17.61 price level, adding 0.51% to its value on the day. Gates Industrial Corporation plc’s shares saw a change of 31.26% in year-to-date performance and have moved 5.29% in past 5-day. Gates Industrial Corporation plc (NYSE:GTES) showed a performance of 2.23% in past 30-days. Number of shares sold short was 13.15 million shares which calculate 2.79 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 19.5 to the stock, which implies a rise of 9.69% to its recent value today. Analysts have been projecting 13 as a low price target for the stock while placing it at a high target of 22. It follows that stock’s current price would jump 26.18% in reaching the projected high whereas dropping to the targeted low would mean a gain of 26.18% for stock’s current value.
Gates Industrial Corporation plc (GTES) estimates and forecasts
Statistics highlight that Gates Industrial Corporation plc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 30.77% of value to its shares in past 6 months, showing an annual growth rate of -4.41% while that of industry is 11.70. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to fall -3.90% from the last financial year’s standing.
8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 839.33M for the same. And 8 analysts are in estimates of company making revenue of 843.25M in the next quarter. Company posted 872.9M and 863.3M of sales in current and next quarters respectively a year earlier.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 0.10% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -3.13% while estimates for its earnings growth in next 5 years are of 11.00%.
Gates Industrial Corporation plc (NYSE:GTES)’s Major holders
Insiders are in possession of 0.90% of company’s total shares while institution are holding 101.90 percent of that, with stock having share float percentage of 102.82%. Investors also watch the number of corporate investors in a company very closely, which is 101.90% institutions for Gates Industrial Corporation plc that are currently holding shares of the company. BLACKSTONE INC. is the top institutional holder at GTES for having 72.0 million shares of worth $1.28 billion. And as of 2024-03-31, it was holding 27.4111 of the company’s outstanding shares.
The second largest institutional holder is VANGUARD GROUP INC, which was holding about 18.01 million shares on 2024-03-31. The number of shares represents firm’s hold over 6.8559 of outstanding shares, having a total worth of $318.93 million.
