Global Industrial (NYSE:GIC) Cut to Buy at Wall Street Zen
by Renee Jackson · The Cerbat GemWall Street Zen cut shares of Global Industrial (NYSE:GIC – Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.
Other equities research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Industrial in a report on Wednesday, October 8th. Zacks Research raised Global Industrial from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.
View Our Latest Stock Analysis on Global Industrial
Global Industrial Price Performance
Shares of Global Industrial stock opened at $31.45 on Friday. Global Industrial has a 52-week low of $20.79 and a 52-week high of $38.79. The firm has a market capitalization of $1.21 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88. The company’s fifty day moving average price is $29.18 and its two-hundred day moving average price is $31.93.
Global Industrial (NYSE:GIC – Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The business had revenue of $353.60 million for the quarter, compared to the consensus estimate of $357.00 million. Global Industrial had a return on equity of 22.85% and a net margin of 5.11%. Analysts predict that Global Industrial will post 1.59 earnings per share for the current fiscal year.
Global Industrial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 10th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, November 10th. Global Industrial’s dividend payout ratio is presently 59.43%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in shares of Global Industrial in the 3rd quarter valued at $79,000. State of Wyoming bought a new position in shares of Global Industrial in the 2nd quarter valued at about $117,000. CWM LLC boosted its stake in shares of Global Industrial by 185.2% in the 2nd quarter. CWM LLC now owns 4,603 shares of the company’s stock valued at $124,000 after purchasing an additional 2,989 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of Global Industrial during the 3rd quarter worth approximately $208,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Global Industrial by 16.3% during the second quarter. Russell Investments Group Ltd. now owns 7,972 shares of the company’s stock worth $215,000 after buying an additional 1,120 shares during the last quarter. 31.19% of the stock is currently owned by institutional investors.
About Global Industrial
Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.
The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.