Gates Industrial (NYSE:GTES) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of $- for the period. The company issued revenue guidance of $3.34 billion-3.42 billion, compared to the consensus revenue estimate of $3.29 billion.

Several brokerages have recently commented on GTES. Wolfe Research began coverage on shares of Gates Industrial in a research report on Wednesday, May 19th. They issued an outperform rating for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on shares of Gates Industrial from $22.00 to $24.00 in a research report on Tuesday, May 11th. Credit Suisse Group boosted their target price on shares of Gates Industrial from $19.00 to $21.00 and gave the company a neutral rating in a research report on Tuesday, May 11th. KeyCorp upped their price objective on shares of Gates Industrial from $20.00 to $22.00 and gave the stock an overweight rating in a research report on Tuesday, May 11th. Finally, Zacks Investment Research upgraded shares of Gates Industrial from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Thursday, May 13th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Gates Industrial currently has an average rating of Buy and a consensus target price of $21.10.

GTES traded down $0.19 during trading on Wednesday, reaching $18.08. 5,340 shares of the company’s stock were exchanged, compared to its average volume of 613,021. Gates Industrial has a one year low of $9.60 and a one year high of $18.94. The company has a quick ratio of 1.93, a current ratio of 2.64 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $5.25 billion, a PE ratio of 22.44 and a beta of 1.84. The stock has a fifty day moving average price of $17.33.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Sunday, May 9th. The company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Gates Industrial had a net margin of 3.75% and a return on equity of 7.88%. The company had revenue of $881.30 million for the quarter, compared to analyst estimates of $830.97 million. During the same period in the prior year, the firm posted $0.21 EPS. The company’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, equities research analysts anticipate that Gates Industrial will post 1.25 earnings per share for the current year.

Gates Industrial Company Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.

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