Genuine Parts Company (GPC) Updates FY17 Earnings Guidance

Genuine Parts Company (NYSE:GPC) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $4.55-4.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.73. The company issued revenue guidance of $16.0-16.03 billion, compared to the consensus revenue estimate of $15.99 billion.

A number of research firms recently commented on GPC. Jefferies Group LLC reaffirmed a hold rating and issued a $95.00 price objective 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 report on Tuesday, September 26th. Royal Bank Of Canada lifted their target price on Genuine Parts from $85.00 to $98.00 and gave the stock a sector perform rating in a report on Tuesday, September 26th. Gabelli reiterated a buy rating on shares of Genuine Parts in a report on Friday, October 20th. Finally, Goldman Sachs Group, Inc. (The) downgraded Genuine Parts from a neutral rating to a sell rating and decreased their price objective for the company from $104.00 to $89.00 in a report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $96.00.

Genuine Parts Company (NYSE GPC) opened at 88.35 on Friday. Genuine Parts Company has a 12 month low of $79.86 and a 12 month high of $100.90. The stock has a market cap of $12.97 billion, a PE ratio of 19.13 and a beta of 1.10. The company’s 50 day moving average price is $91.30 and its 200 day moving average price is $89.16.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.12). Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the company earned $1.24 earnings per share. The company’s revenue was down 72.2% compared to the same quarter last year. Equities analysts forecast that Genuine Parts Company will post $4.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Thursday, September 7th. Genuine Parts’s dividend payout ratio is presently 60.40%.

Genuine Parts declared that its Board of Directors has authorized a share buyback plan on Monday, August 21st that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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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.

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

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