Zacks: Analysts Expect Genuine Parts Company (GPC) Will Announce Earnings of $1.28 Per Share
Equities analysts expect Genuine Parts Company (NYSE:GPC) to report earnings per share of $1.28 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Genuine Parts’ earnings. The highest EPS estimate is $1.29 and the lowest is $1.26. Genuine Parts posted earnings of $1.24 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The business is scheduled to report its next quarterly earnings report on Wednesday, October 18th.
On average, analysts expect that Genuine Parts will report full-year earnings of $4.74 per share for the current financial year, with EPS estimates ranging from $4.72 to $4.75. For the next year, analysts anticipate that the business will report earnings of $5.13 per share, with EPS estimates ranging from $5.10 to $5.18. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Genuine Parts.
Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. Genuine Parts’s revenue was up 5.1% compared to the same quarter last year.
A number of research analysts have commented on GPC shares. BidaskClub raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) lowered shares of Genuine Parts from a “neutral” rating to a “sell” rating and cut their price target for the stock from $104.00 to $89.00 in a research note on Thursday, July 6th. Royal Bank Of Canada reiterated a “hold” rating and set a $96.00 price target on shares of Genuine Parts in a research note on Thursday, May 25th. Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Gabelli upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research note on Friday, July 21st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Genuine Parts has an average rating of “Hold” and a consensus price target of $96.00.
Hedge funds have recently added to or reduced their stakes in the company. Sun Life Financial INC increased its position in shares of Genuine Parts by 15,400.0% in the second quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock worth $101,000 after buying an additional 1,078 shares during the period. Global X Management Co. LLC increased its position in shares of Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock worth $152,000 after buying an additional 373 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in shares of Genuine Parts by 151.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock worth $177,000 after buying an additional 1,147 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Genuine Parts during the first quarter worth about $208,000. Finally, Van ECK Associates Corp increased its position in shares of Genuine Parts by 7.3% in the first quarter. Van ECK Associates Corp now owns 2,274 shares of the specialty retailer’s stock worth $210,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 73.51% of the company’s stock.
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Genuine Parts (GPC) traded up 0.99% during trading on Friday, hitting $83.30. 516,067 shares of the company’s stock were exchanged. Genuine Parts has a 52-week low of $79.86 and a 52-week high of $105.18. The firm has a 50 day moving average price of $83.34 and a 200 day moving average price of $90.62. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 18.03 and a beta of 1.04.
Genuine Parts announced that its board has authorized a share buyback program on Monday, August 21st that permits the company to buyback 15,000,000 outstanding shares. This buyback authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.24%. Genuine Parts’s payout ratio is 58.32%.
Genuine Parts Company Profile
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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