Generac Holdings Inc. to Post FY2023 Earnings of $5.49 Per Share, William Blair Forecasts (NYSE:GNRC)

Posted by Defense World Staff on Nov 5th, 2023

Generac Holdings Inc. (NYSE:GNRC – Free Report) – Research analysts at William Blair dropped their FY2023 earnings per share estimates for shares of Generac in a research note issued to investors on Wednesday, November 1st. William Blair analyst B. Drab now forecasts that the technology company will post earnings of $5.49 per share for the year, down from their prior estimate of $5.60. The consensus estimate for Generac’s current full-year earnings is $5.32 per share. William Blair also issued estimates for Generac’s Q4 2023 earnings at $2.14 EPS, Q1 2024 earnings at $1.47 EPS, Q2 2024 earnings at $1.83 EPS, Q3 2024 earnings at $1.94 EPS, Q4 2024 earnings at $2.03 EPS and FY2024 earnings at $7.25 EPS.

A number of other equities analysts have also recently commented on the company. Canaccord Genuity Group decreased their target price on Generac from $175.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Argus upgraded Generac from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Tuesday, July 11th. Bank of America lifted their price target on Generac from $93.00 to $94.00 in a research report on Friday, September 29th. Citigroup decreased their price target on shares of Generac from $133.00 to $124.00 and set a “neutral” rating for the company in a research note on Wednesday, October 18th. Finally, BNP Paribas assumed coverage on shares of Generac in a research note on Friday, October 20th. They issued an “underperform” rating and a $78.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $139.09.

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Generac Stock Performance

Shares of GNRC opened at $104.92 on Friday. The business’s fifty day simple moving average is $104.81 and its two-hundred day simple moving average is $116.40. The company has a current ratio of 2.41, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. Generac has a 12 month low of $79.86 and a 12 month high of $156.95. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 41.15, a P/E/G ratio of 1.81 and a beta of 1.31.

Generac (NYSE:GNRC – Get Free Report) last announced its earnings results on Wednesday, November 1st. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.09. Generac had a return on equity of 13.73% and a net margin of 4.72%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company earned $1.75 EPS. The business’s revenue was down 1.6% compared to the same quarter last year.

Institutional Investors Weigh In On Generac

Hedge funds have recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Generac by 92,616.6% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,041,619 shares of the technology company’s stock worth $304,467,000 after purchasing an additional 2,039,417 shares during the last quarter. FMR LLC raised its holdings in shares of Generac by 41.1% in the first quarter. FMR LLC now owns 2,549,551 shares of the technology company’s stock worth $275,377,000 after buying an additional 743,267 shares during the period. Norges Bank purchased a new stake in shares of Generac in the fourth quarter worth approximately $59,121,000. Candlestick Capital Management LP purchased a new position in Generac during the 2nd quarter worth $79,109,000. Finally, Macquarie Group Ltd. increased its holdings in Generac by 61.8% during the 1st quarter. Macquarie Group Ltd. now owns 1,244,286 shares of the technology company’s stock worth $134,395,000 after purchasing an additional 475,104 shares during the period. 87.59% of the stock is currently owned by institutional investors.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $95.26, for a total transaction of $476,300.00. Following the sale, the chief executive officer now directly owns 592,690 shares in the company, valued at $56,459,649.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $95.26, for a total value of $476,300.00. Following the completion of the sale, the chief executive officer now directly owns 592,690 shares of the company’s stock, valued at approximately $56,459,649.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rajendra Kumar Kanuru sold 250 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $120.23, for a total value of $30,057.50. Following the sale, the executive vice president now directly owns 16,118 shares of the company’s stock, valued at $1,937,867.14. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $1,675,768 over the last quarter. 2.80% of the stock is owned by corporate insiders.

Generac Company Profile

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Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.