Equities research analysts predict that Genuine Parts Company (NYSE:GPC) will announce earnings of $1.28 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Genuine Parts’ earnings, with the highest EPS estimate coming in at $1.29 and the lowest estimate coming in at $1.26. Genuine Parts posted earnings per share of $1.24 during the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The business is expected to report its next quarterly earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that Genuine Parts will report full year earnings of $4.74 per share for the current fiscal year, with EPS estimates ranging from $4.72 to $4.75. For the next financial year, analysts expect that the company will report earnings of $5.13 per share, with EPS estimates ranging from $5.10 to $5.18. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Genuine Parts.
Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.02). Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the company earned $1.28 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis.
Several research firms recently issued reports on GPC. Jefferies Group LLC restated a “hold” rating and set a $95.00 price target on shares of Genuine Parts in a research report on Sunday. BidaskClub upgraded Genuine Parts from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Gabelli upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Friday, July 21st. Finally, Goldman Sachs Group, Inc. (The) lowered Genuine Parts from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $104.00 to $89.00 in a research report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $96.00.
Shares of Genuine Parts (GPC) traded up 0.58% during mid-day trading on Wednesday, reaching $86.94. The company had a trading volume of 556,258 shares. Genuine Parts has a 12-month low of $79.86 and a 12-month high of $101.88. The firm has a market capitalization of $12.77 billion, a PE ratio of 18.82 and a beta of 1.06. The stock has a 50 day moving average price of $83.50 and a 200 day moving average price of $89.37.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.70 annualized dividend and a yield of 3.11%. Genuine Parts’s payout ratio is 58.32%.
Genuine Parts announced that its Board of Directors has authorized a share buyback program on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Hedge funds have recently modified their holdings of the company. Girard Partners LTD. grew its position in shares of Genuine Parts by 5.2% in the 2nd quarter. Girard Partners LTD. now owns 28,068 shares of the specialty retailer’s stock worth $2,604,000 after buying an additional 1,391 shares during the last quarter. TLP Group LLC bought a new stake in shares of Genuine Parts in the 1st quarter worth approximately $379,000. Synovus Financial Corp grew its position in shares of Genuine Parts by 10.1% in the 2nd quarter. Synovus Financial Corp now owns 263,927 shares of the specialty retailer’s stock worth $24,485,000 after buying an additional 24,129 shares during the last quarter. Motco grew its position in shares of Genuine Parts by 1.9% in the 2nd quarter. Motco now owns 36,411 shares of the specialty retailer’s stock worth $3,378,000 after buying an additional 679 shares during the last quarter. Finally, Hutner Capital Management Inc. grew its position in shares of Genuine Parts by 3.3% in the 1st quarter. Hutner Capital Management Inc. now owns 23,344 shares of the specialty retailer’s stock worth $2,157,000 after buying an additional 739 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.
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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