FY2017 EPS Estimates for Genuine Parts Company Reduced by Analyst (GPC)
Genuine Parts Company (NYSE:GPC) – Analysts at Wedbush lowered their FY2017 earnings per share (EPS) estimates for Genuine Parts in a research report issued to clients and investors on Friday. Wedbush analyst S. Basham now forecasts that the specialty retailer will post earnings per share of $4.56 for the year, down from their previous forecast of $4.72. Wedbush has a “Neutral” rating on the stock. Wedbush also issued estimates for Genuine Parts’ Q4 2017 earnings at $1.04 EPS, Q1 2018 earnings at $1.13 EPS, Q2 2018 earnings at $1.35 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.02 EPS and FY2018 earnings at $4.74 EPS.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.12). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $4.10 billion. Genuine Parts had a return on equity of 20.72% and a net margin of 4.16%. During the same quarter in the prior year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was down 72.2% on a year-over-year basis.
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GPC has been the subject of a number of other research reports. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price objective on shares of Genuine Parts in a research report on Thursday, October 12th. Goldman Sachs Group, Inc. (The) downgraded shares of Genuine Parts from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $104.00 to $89.00 in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Royal Bank Of Canada lifted their price objective on shares of Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 26th. Finally, BidaskClub downgraded shares of Genuine Parts from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $96.00.
Shares of Genuine Parts (GPC) opened at 88.63 on Monday. Genuine Parts has a 12-month low of $79.86 and a 12-month high of $100.90. The company has a market capitalization of $13.01 billion, a PE ratio of 19.19 and a beta of 1.10. The firm’s 50-day moving average is $91.09 and its 200-day moving average is $89.20.
A number of institutional investors have recently modified their holdings of the business. APG Asset Management N.V. raised its stake in Genuine Parts by 5.0% in the 3rd quarter. APG Asset Management N.V. now owns 217,290 shares of the specialty retailer’s stock worth $20,784,000 after purchasing an additional 10,400 shares in the last quarter. LS Investment Advisors LLC raised its stake in Genuine Parts by 9.4% in the 3rd quarter. LS Investment Advisors LLC now owns 36,676 shares of the specialty retailer’s stock worth $3,508,000 after purchasing an additional 3,158 shares in the last quarter. Taylor Cottrill Erickson & Associates Inc. raised its stake in Genuine Parts by 9.8% in the 3rd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 13,795 shares of the specialty retailer’s stock worth $1,319,000 after purchasing an additional 1,235 shares in the last quarter. Sabal Trust CO raised its stake in Genuine Parts by 13.4% in the 3rd quarter. Sabal Trust CO now owns 260,619 shares of the specialty retailer’s stock worth $24,928,000 after purchasing an additional 30,723 shares in the last quarter. Finally, Viking Fund Management LLC raised its stake in Genuine Parts by 7.1% in the 3rd quarter. Viking Fund Management LLC now owns 30,000 shares of the specialty retailer’s stock worth $2,870,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.
Genuine Parts announced that its Board of Directors has authorized a stock repurchase program on Monday, August 21st that allows the company to repurchase 15,000,000 shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Thursday, September 7th. Genuine Parts’s dividend payout ratio (DPR) is 60.40%.
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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