$1.28 Earnings Per Share Expected for Genuine Parts Company (GPC) This Quarter
Brokerages expect that Genuine Parts Company (NYSE:GPC) will report earnings per share (EPS) of $1.28 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Genuine Parts’ earnings, with estimates ranging from $1.26 to $1.29. Genuine Parts posted earnings per share of $1.24 during the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The company is expected to report its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Genuine Parts will report full year earnings of $4.74 per share for the current fiscal year, with EPS estimates ranging from $4.72 to $4.75. For the next fiscal year, analysts forecast that the firm will report earnings of $5.13 per share, with EPS estimates ranging from $5.10 to $5.18. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Genuine Parts.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.02. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year.
A number of analysts have recently issued reports on GPC shares. Gabelli raised Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Friday, July 21st. BidaskClub cut Genuine Parts from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. Royal Bank Of Canada lifted their price target on Genuine Parts from $94.00 to $96.00 and gave the stock a “sector perform” rating in a report on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $104.00 price target (up from $98.00) on shares of Genuine Parts in a report on Saturday, April 22nd. Three research 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’s stock. The stock presently has an average rating of “Hold” and an average target price of $96.86.
Shares of Genuine Parts (NYSE:GPC) opened at 84.15 on Tuesday. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 18.22 and a beta of 1.04. Genuine Parts has a 12-month low of $80.86 and a 12-month high of $105.18. The company has a 50-day moving average price of $87.69 and a 200 day moving average price of $92.39.
A number of institutional investors have recently bought and sold shares of GPC. BlackRock Inc. raised its position in Genuine Parts by 2,130.1% in the first quarter. BlackRock Inc. now owns 14,442,228 shares of the specialty retailer’s stock worth $1,334,608,000 after buying an additional 13,794,624 shares during the period. Vanguard Group Inc. raised its position in Genuine Parts by 4.7% in the first quarter. Vanguard Group Inc. now owns 15,429,332 shares of the specialty retailer’s stock worth $1,425,824,000 after buying an additional 690,398 shares during the period. Prudential Financial Inc. raised its position in Genuine Parts by 175.1% in the second quarter. Prudential Financial Inc. now owns 701,644 shares of the specialty retailer’s stock worth $65,085,000 after buying an additional 446,560 shares during the period. Point72 Asset Management L.P. raised its position in Genuine Parts by 520.0% in the first quarter. Point72 Asset Management L.P. now owns 478,000 shares of the specialty retailer’s stock worth $44,172,000 after buying an additional 400,900 shares during the period. Finally, WINTON GROUP Ltd raised its position in Genuine Parts by 116.7% in the first quarter. WINTON GROUP Ltd now owns 415,900 shares of the specialty retailer’s stock worth $41,777,000 after buying an additional 224,017 shares during the period. Hedge funds and other institutional investors own 73.28% of the company’s stock.
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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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