RBC Capital analyst Deane Dray maintained a Hold rating on Gates Industrial (NYSE:GTES) Corp Plc on Thursday, setting a price target of $13, which is approximately 15.76% above the present share price of $11.23.
Dray expects Gates Industrial Corp Plc to post earnings per share (EPS) of -$0.08 for the third quarter of 2020.
The current consensus among 8 TipRanks analysts is for a Moderate Buy rating of shares in Gates Industrial, with an average price target of $13.31.
The analysts price targets range from a high of $15 to a low of $12.
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $576.5 million and a net profit of $25 million. The company's market cap is $3.27 billion.
According to TipRanks.com, RBC Capital analyst Deane Dray is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 4.1% and a 53.93% success rate.
Gates Industrial Corp. Plc is a holding company, which engages in the manufacture of engineered power transmission and fluid solutions. It operates through the following segments: Power Transmission and Fluid Power. The Power Transmission segment includes elastomer drive belts, and related components used to efficiently transfer motion in a broad range of applications. The Fluid Power segment comprises of hoses, tubing, and fittings designed to convey hydraulic fluid at high-pressures in both mobile and stationary applications, and high-pressure and fluid transfer hoses used to convey various fluids. The company was founded on September 25, 2017 and is headquartered in Denver, CO.