Generac (NYSE:GNRC) Posts Earnings Results, Beats Expectations By $0.27 EPS

Generac (NYSE:GNRC) issued its earnings results on Thursday. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.27, Briefing.com reports. Generac had a net margin of 6.03% and a return on equity of 15.35%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business earned $1.64 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Generac updated its FY 2024 guidance to EPS.

Generac Price Performance

Shares of NYSE GNRC opened at $168.91 on Friday. The company has a 50 day simple moving average of $157.17 and a two-hundred day simple moving average of $148.17. Generac has a fifty-two week low of $98.27 and a fifty-two week high of $176.14. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 43.31, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GNRC shares. Citigroup raised their price target on shares of Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Robert W. Baird cut their target price on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research note on Friday. Stifel Nicolaus restated a “buy” rating and set a $175.00 price target (up previously from $145.00) on shares of Generac in a report on Thursday, August 1st. Truist Financial increased their price objective on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Stephens reiterated an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.10.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares in the company, valued at approximately $89,346,790.61. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

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.