Brokerages expect Genuine Parts (NYSE:GPC) to announce $4.10 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Genuine Parts’ earnings, with the highest sales estimate coming in at $4.24 billion and the lowest estimate coming in at $3.87 billion. Genuine Parts reported sales of $3.78 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The company is expected to issue its next earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that Genuine Parts will report full year sales of $4.10 billion for the current financial year, with estimates ranging from $15.97 billion to $16.34 billion. For the next year, analysts forecast that the business will report sales of $18.34 billion per share, with estimates ranging from $18.12 billion to $18.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Genuine Parts.
Several equities research analysts recently weighed in on the company. Jefferies Group restated a “hold” rating and set a $95.00 target price on shares of Genuine Parts in a research note on Thursday, October 12th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Royal Bank of Canada boosted their target price on Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 26th. Moffett Nathanson assumed coverage on Genuine Parts in a research note on Monday, December 4th. They set a “sell” rating for the company. Finally, Gabelli restated a “buy” rating on shares of Genuine Parts in a research note on Friday, October 20th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $95.00.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, December 7th. Genuine Parts’s payout ratio is 60.40%.
A number of hedge funds have recently bought and sold shares of GPC. Franklin Resources Inc. acquired a new position in Genuine Parts during the second quarter worth approximately $645,000. Teachers Advisors LLC increased its position in Genuine Parts by 6.1% during the second quarter. Teachers Advisors LLC now owns 189,596 shares of the specialty retailer’s stock worth $17,587,000 after buying an additional 10,896 shares during the period. Profund Advisors LLC increased its position in Genuine Parts by 22.4% during the second quarter. Profund Advisors LLC now owns 4,104 shares of the specialty retailer’s stock worth $381,000 after buying an additional 751 shares during the period. Thrivent Financial For Lutherans increased its position in Genuine Parts by 8.6% during the second quarter. Thrivent Financial For Lutherans now owns 6,474 shares of the specialty retailer’s stock worth $600,000 after buying an additional 514 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Genuine Parts by 8.9% during the second quarter. UBS Asset Management Americas Inc. now owns 612,612 shares of the specialty retailer’s stock worth $56,826,000 after buying an additional 49,932 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.
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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