Generac Holdings Inc. (NYSE:GNRC) to Post Q3 2024 Earnings of $1.92 Per Share, William Blair Forecasts

Generac Holdings Inc. (NYSE:GNRC) – Stock analysts at William Blair decreased their Q3 2024 earnings per share estimates for shares of Generac in a note issued to investors on Wednesday, May 1st. William Blair analyst B. Drab now expects that the technology company will post earnings per share of $1.92 for the quarter, down from their prior estimate of $1.97. The consensus estimate for Generac’s current full-year earnings is $6.10 per share. William Blair also issued estimates for Generac’s Q4 2024 earnings at $2.24 EPS.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. The company had revenue of $889.27 million during the quarter, compared to analysts’ expectations of $886.60 million. Generac had a net margin of 5.68% and a return on equity of 14.68%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS.

Other equities analysts have also issued reports about the company. Guggenheim lowered Generac from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. Roth Mkm upped their price target on shares of Generac from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. TD Cowen dropped their price target on shares of Generac from $165.00 to $144.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Canaccord Genuity Group boosted their price objective on shares of Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Canaccord Genuity Group increased their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and a consensus target price of $142.40.

Generac Stock Up 0.1 %

Shares of NYSE:GNRC opened at $136.41 on Monday. Generac has a 12-month low of $79.86 and a 12-month high of $156.95. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $125.50 and its 200-day moving average price is $119.00. The stock has a market capitalization of $8.24 billion, a P/E ratio of 37.58, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Hedge Funds Weigh In On Generac

Several large investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC bought a new stake in shares of Generac in the 4th quarter worth $27,000. Headlands Technologies LLC purchased a new stake in shares of Generac during the third quarter valued at $28,000. BKM Wealth Management LLC bought a new stake in Generac in the 4th quarter worth about $28,000. ORG Partners LLC purchased a new position in Generac in the 4th quarter worth about $38,000. Finally, Quarry LP lifted its stake in Generac by 219.6% during the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after acquiring an additional 202 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $126.94, for a total transaction of $634,700.00. Following the completion of the transaction, the chief executive officer now directly owns 592,177 shares in the company, valued at $75,170,948.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by company insiders.

About Generac

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.