Q3 2017 EPS Estimates for Group 1 Automotive, Inc. (GPI) Cut by Analyst
Group 1 Automotive, Inc. (NYSE:GPI) – Analysts at Seaport Global Securities cut their Q3 2017 earnings estimates for shares of Group 1 Automotive in a research report issued on Wednesday. Seaport Global Securities analyst M. Ward now expects that the company will earn $1.94 per share for the quarter, down from their previous estimate of $1.96. Seaport Global Securities also issued estimates for Group 1 Automotive’s Q4 2017 earnings at $1.88 EPS, FY2017 earnings at $7.20 EPS, Q1 2018 earnings at $1.62 EPS, Q2 2018 earnings at $2.05 EPS, Q4 2018 earnings at $1.99 EPS and FY2018 earnings at $7.75 EPS.
A number of other equities analysts have also recently weighed in on GPI. Zacks Investment Research upgraded Group 1 Automotive from a “strong sell” rating to a “hold” rating in a report on Friday, June 30th. BidaskClub cut Group 1 Automotive from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. ValuEngine cut Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $66.00 price target (down from $75.00) on shares of Group 1 Automotive in a report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $68.50.
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Group 1 Automotive (GPI) opened at 57.23 on Friday. Group 1 Automotive has a 1-year low of $55.06 and a 1-year high of $83.18. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 8.83 and a beta of 1.62. The firm’s 50-day moving average is $61.41 and its 200 day moving average is $69.17.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.87 EPS for the quarter, missing the consensus estimate of $1.99 by $0.12. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Group 1 Automotive had a return on equity of 15.73% and a net margin of 1.26%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 earnings per share.
Group 1 Automotive declared that its Board of Directors has approved a share repurchase plan on Friday, May 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in shares of Group 1 Automotive during the fourth quarter worth approximately $145,000. State Board of Administration of Florida Retirement System boosted its position in shares of Group 1 Automotive by 9.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 6,803 shares of the company’s stock worth $530,000 after buying an additional 580 shares during the period. Norges Bank purchased a new position in shares of Group 1 Automotive during the fourth quarter worth approximately $6,783,000. Bank of Montreal Can boosted its position in shares of Group 1 Automotive by 492.7% in the first quarter. Bank of Montreal Can now owns 31,129 shares of the company’s stock worth $2,306,000 after buying an additional 25,877 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Group 1 Automotive by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the company’s stock worth $600,000 after buying an additional 100 shares during the period. Institutional investors own 94.52% of the company’s stock.
About Group 1 Automotive
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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