Gates Industrial Corporation plc (NYSE:GTES) is reporting third quarter earnings results on Tuesday 3rd November 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 0.16 per share.
For the full year, analysts predict revenues of $ 2687.90 million, while looking forward to income of $ 0.56 per share.
The Company Outlook
Revenue for 3Q20 are expected in a range of $ 704.66 million ~ $ 719.82 million
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 unfold income for the second quarter of $ 0.03 per share, from the revenue of $ 576.50 million. The quarterly earnings shrunk 88.46 percent while revenues contracted 28.82 percent compared with the same quarter last year.
Wall street analysts are predicting, GTES to report 2Q20 loss of $ 0.05 per share from revenue of $ 557.15 million. The bottom line results beat street analysts by $ 0.08 or 160.00 percent, at the same time, top line results outshined analysts by $ 19.35 million or 3.47 percent.
Stock Performance
Shares of Gates Industrial Corporation plc traded up $ 0.70 or 6.31 percent on Monday, reaching $ 11.80 with volume of 173.00 thousand shares. Gates Industrial Corporation plc has traded high as $ 11.90 and has cracked $ 11.23 on the downward trend
The closing price of $ 11.80, representing a 104.80 % increase from the 52 week low of $ 5.42 and a 22.38 % decrease over the 52 week high of $ 14.30.
The company has a market capital of $ 3.43 billion and is part of the Industrials sector and Diversified Industrials industry.
Recent Analyst recommendations
- On 13th October 2020, upgraded by UBS Group to Buy from Neutral rating, with $ 15.00 target price.
- On 13th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 13.00 target price.
Conference Call
Gates Industrial Corporation plc will be hosting a conference call at 10:00 AM eastern time on 3rd November 2020, to discuss its 3Q20 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.
