Garrett Motion (NYSE:GTX – Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04, Zacks reports. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. The business had revenue of $890.00 million for the quarter, compared to analysts’ expectations of $950.00 million. During the same quarter in the prior year, the firm posted ($1.88) earnings per share. Garrett Motion updated its FY 2024 guidance to EPS.
Garrett Motion Trading Up 8.7 %
NYSE GTX traded up $0.70 during trading hours on Friday, hitting $8.76. The company’s stock had a trading volume of 1,888,893 shares, compared to its average volume of 837,781. The company has a market capitalization of $1.98 billion, a PE ratio of -7.62 and a beta of 1.21. Garrett Motion has a 52 week low of $6.43 and a 52 week high of $10.16. The company’s 50-day simple moving average is $8.88 and its two-hundred day simple moving average is $9.19.
Insider Buying and Selling at Garrett Motion
In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $10.01, for a total value of $37,827.79. Following the completion of the sale, the insider now owns 27,337,398 shares in the company, valued at approximately $273,647,353.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.60% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Analysis on Garrett Motion
About Garrett Motion
Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.
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