Genuine Parts Company (NYSE:GPC) Releases FY17 Earnings Guidance
Genuine Parts Company (NYSE:GPC) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.70-4.75 for the period, compared to the Thomson Reuters consensus estimate of $4.79. The company issued revenue guidance of $15.8-15.96 billion, compared to the consensus revenue estimate of $15.90 billion.
Shares of Genuine Parts Company (GPC) traded down 1.53% during midday trading on Thursday, reaching $81.69. The company had a trading volume of 2,508,157 shares. Genuine Parts Company has a 52-week low of $80.86 and a 52-week high of $105.18. The stock has a market capitalization of $12.04 billion, a PE ratio of 17.68 and a beta of 1.07. The company’s 50 day moving average price is $90.07 and its 200 day moving average price is $93.28.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing the consensus estimate of $1.31 by $0.02. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. Genuine Parts had a return on equity of 21.17% and a net margin of 4.44%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS. Equities research analysts expect that Genuine Parts Company will post $4.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 9th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Wednesday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is 58.44%.
Several research analysts have weighed in on GPC shares. BidaskClub upgraded Genuine Parts from a sell rating to a hold rating in a research note on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) reiterated a neutral rating and issued a $104.00 target price (up from $98.00) on shares of Genuine Parts in a research note on Saturday, April 22nd. Zacks Investment Research downgraded Genuine Parts from a hold rating to a sell rating in a research note on Friday, April 21st. Royal Bank Of Canada lifted their target price on Genuine Parts from $94.00 to $96.00 and gave the company a sector perform rating in a research note on Thursday, April 20th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $95.00 target price on shares of Genuine Parts in a research note on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Genuine Parts has an average rating of Hold and an average target price of $97.86.
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About Genuine Parts
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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