Global Industrial Company (GIC) To Go Ex-Dividend on May 18th

Global Industrial Company (NYSE:GIC) declared a quarterly dividend on Tuesday, May 5th. Investors of record on Monday, May 18th will be paid a dividend of 0.28 per share on Tuesday, May 26th. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, May 18th.

Global Industrial has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 9 consecutive years. Global Industrial has a payout ratio of 60.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Global Industrial to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 50.5%.

Global Industrial Stock Down 10.2%

Shares of GIC opened at $29.50 on Thursday. The stock has a 50 day moving average price of $32.20 and a 200 day moving average price of $30.90. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. Global Industrial has a 52-week low of $25.34 and a 52-week high of $38.79.

Global Industrial (NYSE:GIC) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $350.40 million during the quarter, compared to analyst estimates of $344.13 million. Global Industrial had a net margin of 5.33% and a return on equity of 23.69%. On average, equities analysts anticipate that Global Industrial will post 2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GIC. Wall Street Zen raised Global Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Weiss Ratings raised Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Global Industrial currently has an average rating of “Hold”.

Global Industrial Company Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.