$4.08 Billion in Sales Expected for Genuine Parts Company (GPC) This Quarter
Equities research analysts predict that Genuine Parts Company (NYSE:GPC) will report $4.08 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Genuine Parts’ earnings. The lowest sales estimate is $4.06 billion and the highest is $4.10 billion. Genuine Parts reported sales of $3.94 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The company is expected to issue its next quarterly earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that Genuine Parts will report full year sales of $4.08 billion for the current fiscal year, with estimates ranging from $15.90 billion to $16.02 billion. For the next financial year, analysts expect that the firm will report sales of $16.46 billion per share, with estimates ranging from $16.30 billion to $16.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Genuine Parts.
Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.02). The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share.
Several equities research analysts recently commented on GPC shares. Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a report on Friday, July 21st. BidaskClub lowered shares of Genuine Parts from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. Royal Bank Of Canada reissued a “hold” rating and issued a $96.00 price target on shares of Genuine Parts in a report on Thursday, May 25th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Genuine Parts from a “neutral” rating to a “sell” rating and cut their price target for the stock from $104.00 to $89.00 in a report on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $96.00.
Genuine Parts (GPC) traded up 0.27% during trading on Friday, reaching $86.88. 726,037 shares of the company traded hands. The firm has a 50-day moving average price of $83.76 and a 200-day moving average price of $89.26. Genuine Parts has a 52 week low of $79.86 and a 52 week high of $101.88. The company has a market capitalization of $12.76 billion, a P/E ratio of 18.81 and a beta of 1.06.
Genuine Parts announced that its board has initiated a share buyback program on Monday, August 21st that allows the company to buyback 15,000,000 shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, September 7th. Genuine Parts’s payout ratio is 58.32%.
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Institutional investors have recently added to or reduced their stakes in the company. Girard Partners LTD. grew its holdings in shares of Genuine Parts by 5.2% during the second 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 in the last quarter. TLP Group LLC purchased a new stake in shares of Genuine Parts during the first quarter worth $379,000. Synovus Financial Corp grew its holdings in shares of Genuine Parts by 10.1% during the second 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 in the last quarter. Motco grew its holdings in shares of Genuine Parts by 1.9% during the second quarter. Motco now owns 36,411 shares of the specialty retailer’s stock worth $3,378,000 after buying an additional 679 shares in the last quarter. Finally, Nuance Investments LLC grew its holdings in shares of Genuine Parts by 221.3% during the second quarter. Nuance Investments LLC now owns 272,286 shares of the specialty retailer’s stock worth $25,257,000 after buying an additional 187,534 shares in the last quarter. 74.46% of the stock is owned by institutional investors and hedge funds.
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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