Equities research analysts expect Genuine Parts (NYSE:GPC) to post sales of $4.67 billion for the current quarter, according to Zacks. Three analysts have issued estimates for Genuine Parts’ earnings, with estimates ranging from $4.66 billion to $4.71 billion. Genuine Parts reported sales of $4.10 billion in the same quarter last year, which indicates a positive year over year growth rate of 13.9%. The business is expected to announce its next earnings results on Thursday, July 19th.
On average, analysts expect that Genuine Parts will report full year sales of $18.30 billion for the current year, with estimates ranging from $18.26 billion to $18.34 billion. For the next year, analysts forecast that the business will post sales of $18.90 billion per share, with estimates ranging from $18.69 billion to $19.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Genuine Parts.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 19th. The specialty retailer reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.05). The business had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.48 billion. Genuine Parts had a net margin of 3.73% and a return on equity of 20.76%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 EPS.
GPC has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their price objective on Genuine Parts to $100.00 and set a “market perform” rating for the company in a research note on Wednesday, February 21st. Bank of America cut their price target on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, February 21st. JPMorgan Chase reiterated a “neutral” rating and set a $107.00 price target (down previously from $114.00) on shares of Genuine Parts in a research note on Wednesday, February 21st. Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research note on Tuesday, February 6th. Finally, Guggenheim started coverage on Genuine Parts in a research note on Tuesday. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $99.14.
NYSE:GPC traded down $0.39 during trading on Monday, reaching $87.75. The company’s stock had a trading volume of 1,242,247 shares, compared to its average volume of 786,020. The company has a market capitalization of $12,933.19, a PE ratio of 18.91, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.32 and a quick ratio of 0.65. Genuine Parts has a 12 month low of $79.86 and a 12 month high of $107.75.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 9th were issued a dividend of $0.72 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $2.88 dividend on an annualized basis and a yield of 3.28%. Genuine Parts’s dividend payout ratio is 62.07%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Genuine Parts by 0.4% during the 4th quarter. BlackRock Inc. now owns 15,945,256 shares of the specialty retailer’s stock worth $1,514,961,000 after purchasing an additional 58,937 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Genuine Parts by 20.9% during the 4th quarter. Wells Fargo & Company MN now owns 3,659,074 shares of the specialty retailer’s stock worth $347,649,000 after purchasing an additional 632,041 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Genuine Parts by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 1,706,848 shares of the specialty retailer’s stock worth $161,856,000 after purchasing an additional 55,746 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Genuine Parts by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,515,654 shares of the specialty retailer’s stock worth $144,001,000 after purchasing an additional 9,199 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Genuine Parts by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 885,900 shares of the specialty retailer’s stock worth $84,734,000 after purchasing an additional 15,023 shares in the last quarter. 75.30% of the stock is currently owned by institutional investors and hedge funds.
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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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