Wall Street analysts expect Genuine Parts (NYSE:GPC) to post earnings per share of $1.32 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Genuine Parts’ earnings, with the lowest EPS estimate coming in at $1.30 and the highest estimate coming in at $1.33. Genuine Parts posted earnings of $1.08 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 22.2%. The company is scheduled to announce its next earnings report before the market opens on Thursday, April 19th.
According to Zacks, analysts expect that Genuine Parts will report full year earnings of $5.73 per share for the current year, with EPS estimates ranging from $5.63 to $5.90. For the next fiscal year, analysts anticipate that the firm will report earnings of $6.16 per share, with EPS estimates ranging from $5.85 to $6.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Genuine Parts.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 19th. The specialty retailer reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.05). Genuine Parts had a return on equity of 20.48% and a net margin of 3.78%. The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year.
GPC has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price target on Genuine Parts to $100.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 21st. Bank of America raised Genuine Parts from an “underperform” rating to a “neutral” rating and set a $96.00 price target on the stock in a research report on Friday, April 13th. Zacks Investment Research cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. JPMorgan Chase reissued a “neutral” rating and issued a $107.00 price target (down from $114.00) on shares of Genuine Parts in a research report on Wednesday, February 21st. Finally, Guggenheim initiated coverage on Genuine Parts in a research report on Tuesday. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Genuine Parts currently has a consensus rating of “Hold” and an average target price of $100.00.
Shares of GPC traded down $2.07 during mid-day trading on Friday, reaching $89.29. The company had a trading volume of 1,164,827 shares, compared to its average volume of 888,557. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.74. Genuine Parts has a 52 week low of $79.86 and a 52 week high of $107.75. The stock has a market cap of $13,314.70, a P/E ratio of 19.10, a P/E/G ratio of 2.38 and a beta of 1.16.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 9th were given a $0.72 dividend. The ex-dividend date was Thursday, March 8th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.68. This represents a $2.88 annualized dividend and a yield of 3.23%. Genuine Parts’s dividend payout ratio is 62.07%.
Hedge funds have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. lifted its position in Genuine Parts by 5.9% in the 4th quarter. OppenheimerFunds Inc. now owns 26,272 shares of the specialty retailer’s stock valued at $2,496,000 after acquiring an additional 1,472 shares in the last quarter. Barings LLC bought a new position in Genuine Parts in the 4th quarter valued at approximately $337,000. Sawyer & Company Inc bought a new position in Genuine Parts in the 4th quarter valued at approximately $599,000. Synovus Financial Corp lifted its position in Genuine Parts by 2.2% in the 4th quarter. Synovus Financial Corp now owns 283,501 shares of the specialty retailer’s stock valued at $26,980,000 after acquiring an additional 6,187 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Genuine Parts by 156.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 12,984 shares of the specialty retailer’s stock valued at $1,242,000 after buying an additional 7,925 shares during the period. 75.30% of the stock is currently owned by institutional investors and hedge funds.
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About Genuine Parts
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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