Q2 2024 EPS Estimates for Genuine Parts Raised by Zacks Research (NYSE:GPC)

Genuine Parts (NYSE:GPC) – Equities researchers at Zacks Research raised their Q2 2024 earnings per share estimates for shares of Genuine Parts in a research note issued on Thursday, May 2nd. Zacks Research analyst R. Department now forecasts that the specialty retailer will post earnings of $2.59 per share for the quarter, up from their previous forecast of $2.57. The consensus estimate for Genuine Parts’ current full-year earnings is $9.94 per share. Zacks Research also issued estimates for Genuine Parts’ Q3 2024 earnings at $2.67 EPS, Q1 2025 earnings at $2.42 EPS, Q3 2025 earnings at $2.77 EPS and Q1 2026 earnings at $2.58 EPS.

GPC has been the subject of several other reports. Truist Financial lifted their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wedbush reiterated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Jefferies Financial Group increased their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Evercore ISI lowered their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $173.10.

Genuine Parts Price Performance

GPC opened at $157.41 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The stock has a fifty day moving average price of $153.39 and a 200 day moving average price of $143.24. The stock has a market cap of $21.93 billion, a price-to-earnings ratio of 17.55 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the business earned $2.14 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genuine Parts

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Genuine Parts in the fourth quarter valued at $215,643,000. Invesco Ltd. boosted its position in shares of Genuine Parts by 71.1% during the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after acquiring an additional 1,076,361 shares in the last quarter. International Assets Investment Management LLC increased its stake in Genuine Parts by 15,175.4% in the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after acquiring an additional 708,388 shares during the period. Stifel Financial Corp raised its position in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in Genuine Parts by 3,029.9% during the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after purchasing an additional 368,470 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.