Seaport Res Ptn Brokers Lower Earnings Estimates for GPI

Group 1 Automotive, Inc. (NYSE:GPIFree Report) – Equities researchers at Seaport Res Ptn reduced their Q4 2024 earnings estimates for shares of Group 1 Automotive in a research report issued on Thursday, January 16th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings of $8.85 per share for the quarter, down from their previous estimate of $9.22. The consensus estimate for Group 1 Automotive’s current full-year earnings is $38.36 per share.

GPI has been the subject of several other research reports. Guggenheim lifted their price objective on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their target price on shares of Group 1 Automotive from $425.00 to $420.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on shares of Group 1 Automotive in a report on Friday, December 13th. They issued a “buy” rating and a $500.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $436.83.

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Group 1 Automotive Stock Up 0.7 %

GPI stock opened at $447.84 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91. Group 1 Automotive has a 1 year low of $255.73 and a 1 year high of $449.58. The company has a fifty day simple moving average of $423.66 and a 200 day simple moving average of $377.94. The firm has a market cap of $5.96 billion, a PE ratio of 11.93 and a beta of 1.36.

Group 1 Automotive (NYSE:GPIGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the previous year, the business earned $12.07 EPS. Group 1 Automotive’s quarterly revenue was up 11.0% compared to the same quarter last year.

Group 1 Automotive declared that its Board of Directors has initiated a share buyback program on Tuesday, November 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Group 1 Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.47 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.88 annualized dividend and a dividend yield of 0.42%. Group 1 Automotive’s payout ratio is 5.01%.

Insider Transactions at Group 1 Automotive

In other news, VP Edward Mckissic sold 79 shares of Group 1 Automotive stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. The trade was a 1.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lincoln Pereira sold 6,000 shares of Group 1 Automotive stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the sale, the director now owns 98,467 shares in the company, valued at approximately $42,013,899.56. This trade represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after buying an additional 28 shares in the last quarter. Avior Wealth Management LLC boosted its position in Group 1 Automotive by 25.6% in the fourth quarter. Avior Wealth Management LLC now owns 152 shares of the company’s stock valued at $64,000 after buying an additional 31 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Group 1 Automotive by 17.1% in the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock valued at $79,000 after buying an additional 39 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Group 1 Automotive by 20.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 264 shares of the company’s stock valued at $101,000 after buying an additional 44 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Group 1 Automotive by 70.4% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the company’s stock valued at $51,000 after buying an additional 50 shares in the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

About Group 1 Automotive

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Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.

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Earnings History and Estimates for Group 1 Automotive (NYSE:GPI)

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