Q3 2018 EPS Estimates for Group 1 Automotive, Inc. (GPI) Lifted by Analyst
Group 1 Automotive, Inc. (NYSE:GPI) – Research analysts at Seaport Global Securities increased their Q3 2018 earnings per share estimates for shares of Group 1 Automotive in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Ward now expects that the company will earn $2.09 per share for the quarter, up from their previous estimate of $1.99.
GPI has been the topic of several other reports. Zacks Investment Research upgraded Group 1 Automotive from a “strong sell” rating to a “hold” rating in a research report on Friday, June 30th. ValuEngine cut Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. BidaskClub cut Group 1 Automotive from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $66.00 price target (down from $75.00) on shares of Group 1 Automotive in a research report on Monday, July 17th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $68.50.
Shares of Group 1 Automotive (NYSE:GPI) opened at 57.53 on Monday. The firm has a market capitalization of $1.18 billion, a P/E ratio of 8.88 and a beta of 1.62. The stock has a 50 day moving average of $61.41 and a 200-day moving average of $69.17. Group 1 Automotive has a 1-year low of $55.06 and a 1-year high of $83.18.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by $0.12. Group 1 Automotive had a net margin of 1.26% and a return on equity of 15.73%. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis.
Group 1 Automotive declared that its board has authorized a stock buyback program on Friday, May 12th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its position in Group 1 Automotive by 492.7% in the first quarter. Bank of Montreal Can now owns 31,129 shares of the company’s stock valued at $2,306,000 after buying an additional 25,877 shares during the period. Seizert Capital Partners LLC bought a new position in Group 1 Automotive during the first quarter valued at $2,820,000. Private Advisor Group LLC bought a new position in Group 1 Automotive during the first quarter valued at $836,000. Sanders Morris Harris Inc. bought a new position in Group 1 Automotive during the first quarter valued at $1,701,000. Finally, Morgan Stanley boosted its position in Group 1 Automotive by 17.5% in the first quarter. Morgan Stanley now owns 206,874 shares of the company’s stock valued at $15,325,000 after buying an additional 30,820 shares during the period. Institutional investors own 93.52% of the company’s stock.
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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