|Bid||17.22 x 800|
|Ask||17.75 x 1100|
|Day's Range||17.11 - 17.36|
|52 Week Range||6.82 - 18.22|
|Beta (5Y Monthly)||1.85|
|PE Ratio (TTM)||64.05|
|Earnings Date||May 03, 2021 - May 07, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||20.00|
Improved margin, solid segmental performances and higher end-market demand are set to further drive Gates Industrial's (GTES) growth.
Fluor's (FLR) Stork unit receives a contract from Babcock International Group. This boosts Fluor's contract value for first-quarter 2021.
Gates Industrial Corporation raised its 1Q (period ending April 3, 2021) outlook following which its stock closed 2.3% higher on Thursday. Notably, the company is set to announce its 1Q results in early May. Gates Industrial (GTES) now projects 1Q revenues in the range of 21.5% to 22.5% year-over-year. The company had projected revenues of between 14.1% and 18.3%. Analysts were expecting revenues of $830.9 million, representing year-over-year growth of about 17%. Meanwhile, the company projects adjusted EBITDA margin in the range of 21.5% to 22.0%, compared to the initial guidance of 21.0% to 22.0%. CEO Ivo Jurek said, “We are seeing continued strength across our global business and have not experienced a significant impact from supply chain or logistics disruptions.” (See Gates Industrial stock analysis on TipRanks) On Feb. 22, RBC Capital analyst Deane Dray upgraded Gates Industrial to Buy from Hold and increased the price target to $21 (28.4% upside potential) from $17. The analyst believes that the company’s 4Q results reflected positive growth in all geographies, and expects a "positive inflection" in its earnings recovery. Dray added that the current cyclical rally "still has legs," and investors should own the stock now. Turning now to the rest of the Wall Street community, Gates Industrial has a Strong Buy consensus rating based on 6 Buys and 2 Holds. The average analyst price target of $19.31 implies upside potential of about 18.1% to current levels. Shares have gained about 121.5% in one year. Related News:Macerich Sells Paradise Valley Mall For $100MResideo Technologies Gains 5% On Norfolk AcquisitionTesla Tops Expectations, Delivers Record Vehicles In 1Q More recent articles from Smarter Analyst: General Motors’ 1Q Vehicle Sales Rise On Strong Auto Demand Ford’s U.S. Sales Rise 1% In 1Q On EV Strength Eloxx Buys Zikani Therapeutics In An All-Stock Deal; Shares Gain Cathay General To Buy Back $75M In Stock