Wall Street brokerages expect that Group 1 Automotive, Inc. (NYSE:GPI) will report $2.62 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Group 1 Automotive’s earnings. The lowest sales estimate is $2.60 billion and the highest is $2.65 billion. Group 1 Automotive reported sales of $2.52 billion during the same quarter last year, which indicates a positive year over year growth rate of 4%. The business is expected to announce its next earnings report on Friday, April 27th.
On average, analysts expect that Group 1 Automotive will report full year sales of $2.62 billion for the current fiscal year, with estimates ranging from $11.35 billion to $11.45 billion. For the next financial year, analysts forecast that the business will report sales of $11.49 billion per share, with estimates ranging from $11.02 billion to $11.88 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Group 1 Automotive.
Group 1 Automotive (NYSE:GPI) last announced its earnings results on Thursday, February 8th. The company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 EPS.
Several analysts have issued reports on GPI shares. Zacks Investment Research raised Group 1 Automotive from a “hold” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a research report on Wednesday, January 31st. Buckingham Research raised Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Friday, January 5th. Bank of America increased their target price on Group 1 Automotive from $103.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Morgan Stanley increased their target price on Group 1 Automotive from $53.00 to $62.00 and gave the company an “underweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $83.00.
Shares of Group 1 Automotive (GPI) traded up $0.68 during midday trading on Friday, reaching $72.85. The company’s stock had a trading volume of 317,797 shares, compared to its average volume of 233,210. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.06 and a quick ratio of 0.26. The company has a market cap of $1,548.50, a PE ratio of 7.13, a PEG ratio of 1.12 and a beta of 1.75. Group 1 Automotive has a 1-year low of $51.62 and a 1-year high of $84.47.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.25. Group 1 Automotive’s dividend payout ratio is currently 10.28%.
In related news, CEO Earl J. Hesterberg sold 10,640 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $74.44, for a total value of $792,041.60. Following the completion of the transaction, the chief executive officer now owns 165,010 shares in the company, valued at approximately $12,283,344.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Earl J. Hesterberg sold 2,000 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $72.38, for a total value of $144,760.00. Following the completion of the transaction, the chief executive officer now owns 139,065 shares of the company’s stock, valued at approximately $10,065,524.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,398 shares of company stock valued at $11,763,108. Company insiders own 6.08% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC purchased a new position in Group 1 Automotive in the 4th quarter worth $668,000. Gotham Asset Management LLC purchased a new position in Group 1 Automotive in the 4th quarter worth $1,458,000. Millennium Management LLC raised its stake in Group 1 Automotive by 158.5% in the 4th quarter. Millennium Management LLC now owns 312,699 shares of the company’s stock worth $22,192,000 after acquiring an additional 191,709 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in Group 1 Automotive in the 4th quarter worth $248,000. Finally, TIAA CREF Investment Management LLC raised its stake in Group 1 Automotive by 49.1% in the 4th quarter. TIAA CREF Investment Management LLC now owns 120,257 shares of the company’s stock worth $8,535,000 after acquiring an additional 39,622 shares during the last quarter. Institutional investors own 97.57% of the company’s stock.
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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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