Gates Industrial Corporation plc (NYSE:GTES) is reporting second quarter earnings results on Tuesday 4th August 2020, after market close.
The consensus estimates from Thomson Reuters are loss of $ 0.05 per share.
For the full year, analysts predict revenues of $ 2557.79 million, while looking forward to income of $ 0.35 per share.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 3,125.00 million ~ $ 3,220.00 million
Click Here For More Historical Outlooks Of Gates Industrial Corporation plc
Previous Quarter Performance
Gates Industrial Corporation plc reported income for the first quarter of $ 0.21 per share, from the revenue of $ 710.10 million. Street analysts expected Gates Industrial Corporation plc to report income of $ 0.16 per share on revenue of $ 718.56 million for the first quarter. The bottom line results beat street analysts by $ 0.05 or 31.25 percent, at the same time, top line results fell short of analysts by $ 8.46 million or 1.18 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of GTES was $ 10.87, representing a 100.55 % increase from the 52 week low of $ 5.42 and a 23.99 % decrease over the 52 week high of $ 14.30.
The company has a market capital of $ 3.16 billion and is part of the Industrials sector and Diversified Industrials industry.
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Recent Analyst recommendations
- On 7th July 2020, maintained by Barclays at Equal-Weight rating, with $ 13.00 target price.
- On 30th June 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 11.00 target price.
Conference Call
Gates Industrial Corporation plc will be hosting a conference call at 5:00 PM eastern time on 4th August 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.gates.com
Gates Industrial Corporation plc manufactures and sells engineered power transmission and fluid power solutions worldwide. The company offers synchronous or asynchronous belts, including V-belts, CVT belts, or Micro-V belts, as well as related components, such as sprockets, pulleys, water pumps, tensioners, or other accessories; and metal drive components and kits for stationary drives, mobile drives, engine systems, personal mobility products, and vertical lifts. It also provides fluid power products comprising hydraulic hoses, tubing, and fittings, as well as assemblies; and engine and industrial hoses for use in stationary hydraulics, mobile hydraulics, engine systems, and other industrial applications.
