Wall Street brokerages forecast that Group 1 Automotive, Inc. (NYSE:GPI) will announce $2.82 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Group 1 Automotive’s earnings, with the lowest sales estimate coming in at $2.79 billion and the highest estimate coming in at $2.86 billion. Group 1 Automotive posted sales of $2.67 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The firm is expected to report its next earnings results on Thursday, February 1st.
On average, analysts expect that Group 1 Automotive will report full-year sales of $2.82 billion for the current financial year, with estimates ranging from $10.98 billion to $11.07 billion. For the next financial year, analysts expect that the business will report sales of $11.17 billion per share, with estimates ranging from $10.87 billion to $11.45 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Group 1 Automotive.
Group 1 Automotive (NYSE:GPI) last issued its earnings results on Thursday, October 26th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.47. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.80 billion. Group 1 Automotive had a return on equity of 15.69% and a net margin of 1.20%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company posted $1.96 EPS.
Several research analysts recently weighed in on GPI shares. Buckingham Research lowered Group 1 Automotive from a “buy” rating to a “neutral” rating and set a $86.00 target price on the stock. in a research report on Monday, November 13th. Berenberg Bank started coverage on Group 1 Automotive in a research report on Wednesday, October 4th. They issued a “hold” rating and a $77.00 target price on the stock. Wells Fargo & Co increased their target price on Group 1 Automotive from $65.00 to $85.00 and gave the stock a “market perform” rating in a research report on Monday, October 30th. Zacks Investment Research raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Group 1 Automotive in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $79.50.
In related news, VP Darryl M. Burman sold 10,000 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $79.74, for a total value of $797,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John C. Rickel sold 20,000 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $80.00, for a total value of $1,600,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,573 shares of company stock valued at $10,480,632. 6.08% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GPI. The Manufacturers Life Insurance Company increased its holdings in Group 1 Automotive by 19.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,802,293 shares of the company’s stock valued at $114,122,000 after purchasing an additional 295,967 shares in the last quarter. Davidson Kempner Capital Management LP acquired a new stake in Group 1 Automotive in the 3rd quarter valued at $13,115,000. Northern Trust Corp increased its holdings in Group 1 Automotive by 25.9% in the 2nd quarter. Northern Trust Corp now owns 765,256 shares of the company’s stock valued at $48,456,000 after purchasing an additional 157,223 shares in the last quarter. Vanguard Group Inc. increased its holdings in Group 1 Automotive by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,275,649 shares of the company’s stock valued at $144,095,000 after purchasing an additional 122,130 shares in the last quarter. Finally, Elliott Management Corp increased its holdings in Group 1 Automotive by 36.5% in the 2nd quarter. Elliott Management Corp now owns 308,362 shares of the company’s stock valued at $19,525,000 after purchasing an additional 82,500 shares in the last quarter. Hedge funds and other institutional investors own 97.57% of the company’s stock.
Shares of Group 1 Automotive (GPI) traded up $3.16 on Tuesday, hitting $76.40. The company had a trading volume of 279,554 shares, compared to its average volume of 213,101. The company has a quick ratio of 0.27, a current ratio of 1.05 and a debt-to-equity ratio of 1.28. The stock has a market cap of $1,590.00, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.35 and a beta of 1.69. Group 1 Automotive has a twelve month low of $51.62 and a twelve month high of $84.47.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.25 dividend. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, November 30th. Group 1 Automotive’s dividend payout ratio is currently 15.80%.
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About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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