Generac Holdings Inc. to Post Q3 2024 Earnings of $2.01 Per Share, Roth Capital Forecasts (NYSE:GNRC)

Generac Holdings Inc. (NYSE:GNRC) – Equities researchers at Roth Capital upped their Q3 2024 earnings per share estimates for shares of Generac in a research report issued to clients and investors on Wednesday, July 31st. Roth Capital analyst C. Moore now anticipates that the technology company will post earnings per share of $2.01 for the quarter, up from their previous estimate of $2.00. The consensus estimate for Generac’s current full-year earnings is $6.30 per share. Roth Capital also issued estimates for Generac’s Q4 2024 earnings at $2.21 EPS, FY2024 earnings at $6.45 EPS, Q2 2025 earnings at $1.69 EPS, Q3 2025 earnings at $2.48 EPS, Q4 2025 earnings at $2.70 EPS and FY2025 earnings at $8.15 EPS.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The company had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 EPS.

Several other research firms have also weighed in on GNRC. Guggenheim lowered Generac from a “neutral” rating to a “sell” rating and set a $120.00 target price on the stock. in a report on Thursday, May 30th. Northland Securities lifted their price objective on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday. The Goldman Sachs Group increased their target price on Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial lifted their price target on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $153.52.

Generac Trading Down 1.8 %

GNRC opened at $142.87 on Friday. The firm’s fifty day moving average is $144.91 and its two-hundred day moving average is $132.20. The firm has a market cap of $8.66 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. Generac has a twelve month low of $79.86 and a twelve month high of $169.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.25.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $133.39, for a total value of $666,950.00. Following the sale, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total value of $666,950.00. Following the sale, the chief executive officer now owns 577,177 shares in the company, valued at $76,989,640.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick John Forsythe sold 65,855 shares of Generac stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total value of $9,601,659.00. Following the transaction, the insider now owns 19,815 shares of the company’s stock, valued at $2,889,027. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,785 shares of company stock worth $11,020,661. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Generac

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors bought a new stake in shares of Generac during the 4th quarter worth about $155,707,000. Norges Bank acquired a new position in shares of Generac in the fourth quarter valued at approximately $67,253,000. Wellington Management Group LLP increased its stake in shares of Generac by 432.9% during the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock worth $50,697,000 after purchasing an additional 318,664 shares during the period. DAVENPORT & Co LLC lifted its holdings in Generac by 831.1% during the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after purchasing an additional 214,322 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Generac in the 4th quarter valued at $17,956,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.