Gates Industrial (NYSE:GTES) updated its FY 2021 earnings guidance on Monday. 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.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised 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 note on Thursday. KeyCorp raised their price objective on shares of Gates Industrial from $20.00 to $22.00 and gave the stock an overweight rating in a research note on Tuesday, May 11th. Morgan Stanley raised their price objective on shares of Gates Industrial from $18.00 to $20.00 and gave the stock an equal weight rating in a research note on Tuesday, May 11th. Citigroup raised their price objective on shares of Gates Industrial from $22.00 to $24.00 in a research note on Tuesday, May 11th. Finally, TheStreet raised shares of Gates Industrial from a d rating to a c rating in a research note on Monday, January 25th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $20.56.

Shares of NYSE GTES opened at $17.85 on Monday. Gates Industrial has a 1 year low of $8.43 and a 1 year high of $18.35. The firm’s 50 day moving average price is $16.94 and its 200 day moving average price is $14.89. The firm has a market cap of $5.18 billion, a P/E ratio of 71.40 and a beta of 1.87. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.39 and a current ratio of 3.13.

Gates Industrial (NYSE:GTES) last announced its earnings results on Sunday, May 9th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Gates Industrial had a net margin of 2.73% and a return on equity of 6.84%. The firm had revenue of $881.30 million for the quarter, compared to analyst estimates of $830.97 million. During the same quarter last year, the business earned $0.21 earnings per share. Gates Industrial’s revenue was up 24.1% compared to the same quarter last year. As a group, equities analysts predict that Gates Industrial will post 0.63 EPS for the current year.

In related news, major shareholder Aggregator (Cayman) L.P. Omaha sold 25,300,000 shares of Gates Industrial stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $14.40, for a total transaction of $364,320,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.76% of the stock is owned by company insiders.

About Gates Industrial

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.

Featured Story: Intrinsic Value

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is Elliott Wave theory?

7 Great Dividend Stocks to Buy For a Comfortable Retirement

There are people who will say the day of set it and forget it retirement accounts are over. But it’s a narrative we’ve heard before. The truth is the formula for saving for and enjoying a comfortable retirement, like the formula for weight loss, hasn’t really changed. A lot depends on whether an individual has the discipline to see it through.

Dividend stocks remain one of the core elements of a retirement portfolio. As individuals near retirement the ability to reinvest dividends allows for a greater total return. And once individuals need to live off their portfolio, the dividends provide a source of income without having to tap their principal.

However, not all dividend stocks are the same and many investors get sucked in by the allure of a high-yield dividend stock. But what you’re really looking for are companies with a history of increasing its dividend. The ability to increase a dividend over time illustrates that the company has a business model that can hold up regardless of how the broader economy is performing.

In this special presentation, we’ll highlight seven stocks that individuals can buy today to capture a stable, recurring dividend.

View the “7 Great Dividend Stocks to Buy For a Comfortable Retirement”.