Genuine Parts (GPC) Expected to Announce Quarterly Sales of $4.10 Billion

Equities analysts forecast that Genuine Parts (NYSE:GPC) will announce $4.10 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Genuine Parts’ earnings. The lowest sales estimate is $3.87 billion and the highest is $4.24 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 scheduled to report its next quarterly earnings results before the market opens on Tuesday, February 20th.

On average, 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 fiscal year, analysts forecast that the company will post 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 an average based on a survey of sell-side research analysts that cover Genuine Parts.

Several analysts have weighed in on GPC shares. Moffett Nathanson started coverage on shares of Genuine Parts in a research note on Monday, December 4th. They issued a “sell” rating for the company. Royal Bank of Canada lowered their price target on shares of Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, October 20th. Gabelli reissued a “buy” rating on shares of Genuine Parts in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Finally, Jefferies Group restated a “hold” rating and issued a $95.00 price objective on shares of Genuine Parts in a research report on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $98.40.

Several hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its position in shares of Genuine Parts by 0.9% in the second quarter. Nordea Investment Management AB now owns 5,849 shares of the specialty retailer’s stock valued at $543,000 after acquiring an additional 55 shares during the period. Bangor Savings Bank increased its position in shares of Genuine Parts by 2.0% in the second quarter. Bangor Savings Bank now owns 4,009 shares of the specialty retailer’s stock valued at $371,000 after acquiring an additional 79 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of Genuine Parts by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,980 shares of the specialty retailer’s stock valued at $925,000 after acquiring an additional 115 shares during the period. Sterling Capital Management LLC increased its position in shares of Genuine Parts by 1.7% in the second quarter. Sterling Capital Management LLC now owns 8,304 shares of the specialty retailer’s stock valued at $770,000 after acquiring an additional 135 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Genuine Parts by 16.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,480 shares of the specialty retailer’s stock valued at $331,000 after acquiring an additional 488 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Shares of Genuine Parts (NYSE:GPC) opened at $100.06 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.62. The firm has a market cap of $14,612.97, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.43 and a beta of 1.14. Genuine Parts has a one year low of $79.86 and a one year high of $107.75.

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

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