Analysts Expect Group 1 Automotive, Inc. (GPI) Will Post Quarterly Sales of $2.73 Billion
Brokerages predict that Group 1 Automotive, Inc. (NYSE:GPI) will report $2.73 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Group 1 Automotive’s earnings, with estimates ranging from $2.64 billion to $2.81 billion. Group 1 Automotive posted sales of $2.78 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.8%. The business is expected to announce its next earnings results on Thursday, July 27th.
On average, analysts expect that Group 1 Automotive will report full year sales of $2.73 billion for the current year, with estimates ranging from $10.62 billion to $10.98 billion. For the next fiscal year, analysts anticipate that the business will report sales of $11.1 billion per share, with estimates ranging from $10.8 billion to $11.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Group 1 Automotive.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Friday, April 28th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by $0.18. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.60 billion. Group 1 Automotive had a return on equity of 17.88% and a net margin of 1.31%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.59 EPS.
A number of equities research analysts recently weighed in on GPI shares. Zacks Investment Research upgraded Group 1 Automotive from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Tuesday, April 4th. Susquehanna Bancshares Inc started coverage on Group 1 Automotive in a research note on Wednesday, February 1st. They issued a “neutral” rating and a $72.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $69.33.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC boosted its position in Group 1 Automotive by 1,300.0% in the first quarter. Acrospire Investment Management LLC now owns 1,400 shares of the company’s stock valued at $104,000 after buying an additional 1,300 shares during the last quarter. Elkfork Partners LLC purchased a new position in Group 1 Automotive during the fourth quarter valued at $111,000. Victory Capital Management Inc. purchased a new position in Group 1 Automotive during the first quarter valued at $113,000. Ameritas Investment Partners Inc. purchased a new position in Group 1 Automotive during the first quarter valued at $133,000. Finally, Russell Investments Group Ltd. purchased a new position in Group 1 Automotive during the fourth quarter valued at $145,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.
Shares of Group 1 Automotive (NYSE:GPI) opened at 61.72 on Friday. Group 1 Automotive has a 52 week low of $47.31 and a 52 week high of $83.18. The stock has a 50 day moving average of $66.15 and a 200 day moving average of $73.57. The firm has a market cap of $1.28 billion, a P/E ratio of 9.08 and a beta of 1.51.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.56%. The ex-dividend date is Tuesday, May 30th. Group 1 Automotive’s payout ratio is 13.77%.
About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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