Equities Analysts Issue Forecasts for Group 1 Automotive Inc.’s FY2018 Earnings (GPI)
Group 1 Automotive Inc. (NYSE:GPI) – Analysts at Seaport Global Securities issued their FY2018 earnings per share estimates for Group 1 Automotive in a research report issued on Monday. Seaport Global Securities analyst M. Ward forecasts that the brokerage will post earnings per share of $7.95 for the year. Seaport Global Securities currently has a “Neutral” rating on the stock.
Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Thursday, October 20th. The company reported $1.96 EPS for the quarter, missing the consensus estimate of $2.09 by $0.13. Group 1 Automotive had a return on equity of 17.77% and a net margin of 0.72%. The company earned $2.80 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the company posted $1.91 earnings per share. The business’s revenue was up .8% compared to the same quarter last year.
A number of other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a report on Thursday, October 13th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $61.00 price target (down from $64.00) on shares of Group 1 Automotive in a report on Saturday, October 8th. TheStreet upgraded shares of Group 1 Automotive from a “hold” rating to a “buy” rating in a report on Thursday, September 15th. Finally, Buckingham Research upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating in a report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $64.00.
Group 1 Automotive (NYSE:GPI) traded up 3.19% during midday trading on Thursday, reaching $64.72. 260,506 shares of the company’s stock were exchanged. Group 1 Automotive has a 52 week low of $47.31 and a 52 week high of $83.43. The firm has a market capitalization of $1.33 billion, a P/E ratio of 17.69 and a beta of 1.38. The stock’s 50 day moving average is $61.28 and its 200 day moving average is $59.55.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 1.42%. Group 1 Automotive’s payout ratio is 24.02%.
In other Group 1 Automotive news, VP Darryl M. Burman sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $58.90, for a total transaction of $117,800.00. Following the completion of the sale, the vice president now directly owns 72,633 shares in the company, valued at $4,278,083.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Peter C. Delongchamps sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $61.22, for a total transaction of $459,150.00. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Hillcrest Asset Management LLC acquired a new stake in Group 1 Automotive during the first quarter valued at about $4,727,000. A.R.T. Advisors LLC increased its stake in Group 1 Automotive by 229.1% in the first quarter. A.R.T. Advisors LLC now owns 57,028 shares of the company’s stock valued at $3,346,000 after buying an additional 39,700 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Group 1 Automotive by 614.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 61,830 shares of the company’s stock valued at $3,629,000 after buying an additional 53,170 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Group 1 Automotive by 29.4% in the first quarter. Envestnet Asset Management Inc. now owns 17,770 shares of the company’s stock valued at $1,043,000 after buying an additional 4,040 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Group 1 Automotive during the first quarter valued at about $26,106,000. Institutional investors own 98.45% of the company’s stock.
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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