Genuine Parts (NYSE:GPC) – Stock analysts at Wedbush lowered their FY2018 earnings per share estimates for shares of Genuine Parts in a report issued on Wednesday. Wedbush analyst S. Basham now expects that the specialty retailer will earn $5.63 per share for the year, down from their previous forecast of $6.26.
Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 20th. The specialty retailer reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. Genuine Parts had a net margin of 3.78% and a return on equity of 20.48%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the company posted $1.02 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research note on Tuesday, February 6th. Royal Bank of Canada decreased their price target on shares of Genuine Parts to $100.00 and set a “market perform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $107.00 price target (down from $114.00) on shares of Genuine Parts in a research note on Wednesday. Moffett Nathanson started coverage on shares of Genuine Parts in a research note on Monday, December 4th. They issued a “sell” rating on the stock. Finally, Bank of America decreased their price target on shares of Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $97.71.
Genuine Parts (GPC) traded up $0.50 during mid-day trading on Friday, hitting $93.43. 293,483 shares of the stock traded hands, compared to its average volume of 944,179. The stock has a market cap of $13,684.90, a price-to-earnings ratio of 22.34, a P/E/G ratio of 2.28 and a beta of 1.14. Genuine Parts has a twelve month low of $79.86 and a twelve month high of $107.75. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 1.34.
A number of institutional investors have recently modified their holdings of GPC. Trust Co. of Vermont boosted its position in Genuine Parts by 11.5% in the 3rd quarter. Trust Co. of Vermont now owns 6,490 shares of the specialty retailer’s stock valued at $620,000 after buying an additional 671 shares during the period. Lord Abbett & CO. LLC boosted its position in Genuine Parts by 60.1% in the 2nd quarter. Lord Abbett & CO. LLC now owns 113,800 shares of the specialty retailer’s stock valued at $10,556,000 after buying an additional 42,700 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Genuine Parts by 22.7% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 9,795 shares of the specialty retailer’s stock valued at $937,000 after buying an additional 1,810 shares during the period. Verity & Verity LLC boosted its position in Genuine Parts by 3.0% in the 3rd quarter. Verity & Verity LLC now owns 45,904 shares of the specialty retailer’s stock valued at $4,391,000 after buying an additional 1,352 shares during the period. Finally, First National Trust Co. boosted its position in Genuine Parts by 6.1% in the 3rd quarter. First National Trust Co. now owns 29,723 shares of the specialty retailer’s stock valued at $2,843,000 after buying an additional 1,699 shares during the period. 74.65% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a $0.72 dividend. The ex-dividend date is Thursday, March 8th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.68. This represents a $2.88 dividend on an annualized basis and a yield of 3.08%. Genuine Parts’s dividend payout ratio (DPR) is currently 64.59%.
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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.
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