$2.83 Billion in Sales Expected for Group 1 Automotive, Inc. (GPI) This Quarter
Brokerages predict that Group 1 Automotive, Inc. (NYSE:GPI) will announce $2.83 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Group 1 Automotive’s earnings. The highest sales estimate is $2.89 billion and the lowest is $2.79 billion. Group 1 Automotive reported sales of $2.82 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 0.4%. The firm is scheduled to report its next earnings report on Thursday, October 19th.
On average, analysts expect that Group 1 Automotive will report full year sales of $2.83 billion for the current fiscal year, with estimates ranging from $10.72 billion to $10.85 billion. For the next year, analysts anticipate that the business will post sales of $10.92 billion per share, with estimates ranging from $10.66 billion to $11.04 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Group 1 Automotive.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 the consensus estimate of $2.70 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year.
Several research firms have recently issued reports on GPI. Zacks Investment Research lowered Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. BidaskClub raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $66.00 price objective (down from $75.00) on shares of Group 1 Automotive in a research note on Monday, July 17th. Finally, ValuEngine lowered Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $68.50.
Shares of Group 1 Automotive (NYSE GPI) opened at 57.81 on Tuesday. The company has a market cap of $1.19 billion, a P/E ratio of 8.92 and a beta of 1.62. The firm has a 50-day moving average price of $61.41 and a 200 day moving average price of $69.17. Group 1 Automotive has a 12 month low of $55.06 and a 12 month high of $83.18.
Group 1 Automotive announced that its board has initiated a stock repurchase plan on Friday, May 12th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
Large investors have recently bought and sold shares of the stock. Chicago Equity Partners LLC acquired a new stake in shares of Group 1 Automotive during the first quarter worth about $1,873,000. LSV Asset Management raised its stake in shares of Group 1 Automotive by 16.5% in the first quarter. LSV Asset Management now owns 644,844 shares of the company’s stock worth $47,770,000 after buying an additional 91,264 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Group 1 Automotive by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 28,106 shares of the company’s stock worth $2,081,000 after buying an additional 1,940 shares in the last quarter. Hillcrest Asset Management LLC raised its stake in shares of Group 1 Automotive by 7.9% in the first quarter. Hillcrest Asset Management LLC now owns 89,750 shares of the company’s stock worth $6,649,000 after buying an additional 6,554 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Group 1 Automotive by 854.4% in the first quarter. Russell Investments Group Ltd. now owns 17,761 shares of the company’s stock worth $1,315,000 after buying an additional 15,900 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.
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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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