Zacks: Brokerages Anticipate Genuine Parts (GPC) Will Post Earnings of $1.09 Per Share

Brokerages predict that Genuine Parts (NYSE:GPC) will report $1.09 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have provided estimates for Genuine Parts’ earnings, with estimates ranging from $1.04 to $1.14. Genuine Parts reported earnings of $1.02 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.9%. The business is expected to report its next quarterly earnings report on Tuesday, February 20th.

According to Zacks, analysts expect that Genuine Parts will report full year earnings of $4.60 per share for the current fiscal year, with EPS estimates ranging from $4.55 to $4.66. For the next fiscal year, analysts anticipate that the business will post earnings of $5.68 per share, with EPS estimates ranging from $5.45 to $6.26. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Genuine Parts.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Genuine Parts had a net margin of 4.16% and a return on equity of 20.49%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the company posted $1.24 earnings per share. Genuine Parts’s quarterly revenue was down 72.2% on a year-over-year basis.

A number of brokerages recently commented on GPC. Jefferies Group reissued a “hold” rating and set a $95.00 price target on shares of Genuine Parts in a research note on Thursday, October 12th. Zacks Investment Research raised Genuine Parts from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Royal Bank of Canada increased their price target on Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 26th. Moffett Nathanson began coverage on Genuine Parts in a research note on Monday, December 4th. They set a “sell” rating for the company. Finally, Gabelli reissued a “buy” rating on shares of Genuine Parts in a research note on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $95.00.

A number of hedge funds have recently modified their holdings of the business. Nordea Investment Management AB raised its position in Genuine Parts by 0.9% during the second quarter. Nordea Investment Management AB now owns 5,849 shares of the specialty retailer’s stock valued at $543,000 after purchasing an additional 55 shares during the period. Bangor Savings Bank raised its position in Genuine Parts by 2.0% during the second quarter. Bangor Savings Bank now owns 4,009 shares of the specialty retailer’s stock valued at $371,000 after purchasing an additional 79 shares during the period. Ameritas Investment Partners Inc. raised its position in Genuine Parts by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,980 shares of the specialty retailer’s stock valued at $925,000 after purchasing an additional 115 shares during the period. Sterling Capital Management LLC raised its position in Genuine Parts by 1.7% during the second quarter. Sterling Capital Management LLC now owns 8,304 shares of the specialty retailer’s stock valued at $770,000 after purchasing an additional 135 shares during the period. Finally, Marco Investment Management LLC raised its position in Genuine Parts by 0.6% during the second quarter. Marco Investment Management LLC now owns 36,464 shares of the specialty retailer’s stock valued at $3,382,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 75.84% of the company’s stock.

Shares of Genuine Parts (GPC) traded down $0.55 during trading on Friday, reaching $102.93. The company had a trading volume of 610,500 shares, compared to its average volume of 825,567. Genuine Parts has a 52 week low of $79.86 and a 52 week high of $104.88. The company has a market capitalization of $15,171.57, a price-to-earnings ratio of 23.03, a PEG ratio of 2.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.62 and a current ratio of 1.32.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were given a dividend of $0.675 per share. The ex-dividend date was Thursday, December 7th. This represents a $2.70 dividend on an annualized basis and a yield of 2.62%. Genuine Parts’s dividend payout ratio (DPR) is presently 60.40%.

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

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