Genuine Parts Co. (GPC) to Release Quarterly Earnings on Wednesday
Genuine Parts Co. (NYSE:GPC) is scheduled to be releasing its Q316 earnings data on Wednesday, October 19th. Analysts expect Genuine Parts to post earnings of $1.29 per share and revenue of $4.03 billion for the quarter.
Genuine Parts Co. (NYSE:GPC) opened at 97.83 on Tuesday. The stock has a 50 day moving average price of $99.49 and a 200-day moving average price of $99.12. Genuine Parts Co. has a one year low of $76.50 and a one year high of $105.97. The firm has a market capitalization of $14.57 billion, a PE ratio of 21.13 and a beta of 0.92.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were issued a dividend of $0.6575 per share. This represents a $2.63 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Wednesday, September 7th. Genuine Parts’s payout ratio is currently 56.68%.
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Several large investors have recently added to or reduced their stakes in the stock. Invictus RG acquired a new stake in Genuine Parts during the second quarter worth $136,000. Van ECK Associates Corp increased its position in shares of Genuine Parts by 30.3% in the second quarter. Van ECK Associates Corp now owns 1,467 shares of the company’s stock valued at $149,000 after buying an additional 341 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Genuine Parts during the second quarter valued at approximately $205,000. Pacer Advisors Inc. increased its position in shares of Genuine Parts by 9.1% in the second quarter. Pacer Advisors Inc. now owns 2,797 shares of the company’s stock valued at $283,000 after buying an additional 233 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Genuine Parts by 6.0% in the second quarter. Bank of Nova Scotia now owns 2,991 shares of the company’s stock valued at $303,000 after buying an additional 170 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.
GPC has been the subject of a number of research analyst reports. Argus reiterated a “buy” rating and set a $108.00 price target (up previously from $106.00) on shares of Genuine Parts in a report on Monday, July 25th. Jefferies Group cut Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 price target for the company. in a report on Friday, July 15th. Wedbush reiterated a “neutral” rating and set a $98.00 price target on shares of Genuine Parts in a report on Wednesday, July 20th. Zacks Investment Research cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Gabelli cut Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 price target for the company. in a report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $99.82.
Genuine Parts Company Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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