Group 1 Automotive, Inc. (NYSE:GPI) – Equities research analysts at Seaport Global Securities issued their Q1 2019 earnings per share estimates for Group 1 Automotive in a research report issued to clients and investors on Wednesday, February 13th. Seaport Global Securities analyst M. Ward expects that the company will post earnings of $1.84 per share for the quarter. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Group 1 Automotive’s FY2019 earnings at $9.15 EPS, Q1 2020 earnings at $1.91 EPS, Q2 2020 earnings at $2.66 EPS, Q3 2020 earnings at $2.58 EPS, Q4 2020 earnings at $2.33 EPS and FY2020 earnings at $9.50 EPS.
Other analysts have also issued reports about the company. TheStreet raised Group 1 Automotive from a “c+” rating to a “b-” rating in a report on Thursday, January 31st. Zacks Investment Research reissued a “buy” rating and set a $56.00 target price on shares of Group 1 Automotive in a report on Monday, December 31st. Buckingham Research raised Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, October 29th. They noted that the move was a valuation call. Finally, Morgan Stanley raised Group 1 Automotive from an “underweight” rating to an “equal weight” rating and set a $61.00 target price on the stock in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $72.00.
Group 1 Automotive (NYSE:GPI) last released its earnings results on Tuesday, February 5th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.03. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. Group 1 Automotive had a return on equity of 15.31% and a net margin of 1.36%. Group 1 Automotive’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.11 EPS.
Group 1 Automotive announced that its board has authorized a stock repurchase plan on Thursday, October 25th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in Group 1 Automotive by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 389,327 shares of the company’s stock valued at $24,527,000 after buying an additional 1,416 shares in the last quarter. BlueMountain Capital Management LLC boosted its stake in Group 1 Automotive by 294.6% in the third quarter. BlueMountain Capital Management LLC now owns 7,422 shares of the company’s stock valued at $482,000 after buying an additional 5,541 shares in the last quarter. Marshall Wace LLP acquired a new stake in Group 1 Automotive in the third quarter valued at about $14,704,000. MetLife Investment Advisors LLC boosted its stake in Group 1 Automotive by 35.7% in the third quarter. MetLife Investment Advisors LLC now owns 12,774 shares of the company’s stock valued at $829,000 after buying an additional 3,363 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Group 1 Automotive by 4.5% in the third quarter. Prudential Financial Inc. now owns 277,892 shares of the company’s stock valued at $18,035,000 after buying an additional 12,053 shares in the last quarter. 99.86% of the stock is currently owned by institutional investors and hedge funds.
About Group 1 Automotive
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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