Brokerages forecast that Genuine Parts Company (NYSE:GPC) will post $4.08 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Genuine Parts’ earnings, with the lowest sales estimate coming in at $4.06 billion and the highest estimate coming in at $4.11 billion. Genuine Parts reported sales of $3.94 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The firm is scheduled to report its next earnings results before the market opens on Thursday, October 19th.

On average, analysts expect that Genuine Parts will report full-year sales of $4.08 billion for the current year, with estimates ranging from $15.90 billion to $16.04 billion. For the next financial year, analysts expect that the firm will post sales of $16.41 billion per share, with estimates ranging from $16.30 billion to $16.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Genuine Parts.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing the Zacks’ 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 analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis.

Several analysts have recently issued reports on GPC shares. Gabelli upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research report on Friday, July 21st. BidaskClub cut shares of Genuine Parts from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Wedbush restated a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada raised their price target on shares of Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Genuine Parts has an average rating of “Hold” and a consensus price target of $96.33.

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Several large investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its position in Genuine Parts by 8.8% during the first quarter. UBS Asset Management Americas Inc. now owns 562,680 shares of the specialty retailer’s stock worth $51,997,000 after acquiring an additional 45,492 shares during the last quarter. Oxford Asset Management purchased a new stake in Genuine Parts during the 1st quarter valued at about $1,103,000. Pacer Advisors Inc. raised its holdings in Genuine Parts by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 2,853 shares of the specialty retailer’s stock valued at $264,000 after acquiring an additional 88 shares during the last quarter. Nordea Investment Management AB raised its holdings in Genuine Parts by 1.6% in the 1st quarter. Nordea Investment Management AB now owns 5,794 shares of the specialty retailer’s stock valued at $535,000 after acquiring an additional 93 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in Genuine Parts by 57.3% in the 1st quarter. Private Advisor Group LLC now owns 8,391 shares of the specialty retailer’s stock valued at $629,000 after acquiring an additional 3,057 shares during the last quarter. 74.46% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts (NYSE:GPC) traded down 0.65% during midday trading on Wednesday, hitting $95.33. The company had a trading volume of 347,435 shares. The company has a 50 day moving average price of $86.41 and a 200 day moving average price of $88.95. The firm has a market capitalization of $14.00 billion, a P/E ratio of 20.64 and a beta of 1.10. Genuine Parts has a 1-year low of $79.86 and a 1-year high of $100.90.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were paid a dividend of $0.675 per share. The ex-dividend date was Thursday, September 7th. This represents a $2.70 annualized dividend and a yield of 2.81%. Genuine Parts’s dividend payout ratio (DPR) is presently 58.32%.

Genuine Parts announced that its Board of Directors has approved a share buyback plan on Monday, August 21st that allows the company to repurchase 15,000,000 shares. This repurchase authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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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Earnings History and Estimates for Genuine Parts (NYSE:GPC)

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