Wall Street brokerages expect Group 1 Automotive, Inc. (NYSE:GPI) to report $1.93 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Group 1 Automotive’s earnings, with estimates ranging from $1.80 to $2.05. Group 1 Automotive reported earnings per share of $1.53 during the same quarter last year, which would indicate a positive year over year growth rate of 26.1%. The company is scheduled to report its next quarterly earnings report on Friday, April 27th.
According to Zacks, analysts expect that Group 1 Automotive will report full year earnings of $8.79 per share for the current financial year, with EPS estimates ranging from $7.29 to $9.83. For the next year, analysts anticipate that the business will report earnings of $9.04 per share, with EPS estimates ranging from $7.12 to $10.26. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Group 1 Automotive.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.85 billion. Group 1 Automotive had a return on equity of 15.85% and a net margin of 1.89%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.74 EPS.
GPI has been the topic of a number of research reports. Bank of America upped their target price on Group 1 Automotive from $103.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 9th. Zacks Investment Research upgraded Group 1 Automotive from a “hold” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a report on Wednesday, January 31st. Buckingham Research upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Friday, January 5th. Finally, Wells Fargo & Co upped their target price on Group 1 Automotive from $65.00 to $85.00 and gave the company a “market perform” rating in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $86.00.
Group 1 Automotive (GPI) traded up $0.05 during midday trading on Tuesday, reaching $76.15. The company’s stock had a trading volume of 78,515 shares, compared to its average volume of 233,660. The company has a current ratio of 1.06, a quick ratio of 0.26 and a debt-to-equity ratio of 0.79. The firm has a market cap of $1,587.37, a P/E ratio of 7.52, a PEG ratio of 1.24 and a beta of 1.70. Group 1 Automotive has a 12-month low of $51.62 and a 12-month high of $84.47.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.26 dividend. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, February 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.37%. Group 1 Automotive’s dividend payout ratio is currently 9.88%.
In related news, CEO Earl J. Hesterberg sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $79.39, for a total value of $3,175,600.00. Following the completion of the sale, the chief executive officer now owns 108,440 shares of the company’s stock, valued at approximately $8,609,051.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Earl J. Hesterberg sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $72.15, for a total value of $288,600.00. Following the completion of the sale, the chief executive officer now directly owns 139,065 shares of the company’s stock, valued at approximately $10,033,539.75. The disclosure for this sale can be found here. Insiders sold a total of 167,398 shares of company stock worth $12,974,458 in the last quarter. 6.08% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in GPI. Quantitative Systematic Strategies LLC bought a new stake in Group 1 Automotive during the third quarter worth approximately $215,000. First Trust Advisors LP boosted its position in Group 1 Automotive by 42.9% during the third quarter. First Trust Advisors LP now owns 32,158 shares of the company’s stock worth $2,330,000 after purchasing an additional 9,647 shares during the period. FCA Corp TX bought a new stake in Group 1 Automotive during the third quarter worth approximately $290,000. Davidson Kempner Capital Management LP bought a new stake in Group 1 Automotive during the third quarter worth approximately $13,115,000. Finally, Nordea Investment Management AB boosted its position in Group 1 Automotive by 2.8% during the third quarter. Nordea Investment Management AB now owns 73,800 shares of the company’s stock worth $5,348,000 after purchasing an additional 2,000 shares during the period. 97.57% of the stock is owned by institutional investors and hedge funds.
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Group 1 Automotive Company Profile
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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