Genuine Parts Company (GPC) Releases FY17 Earnings Guidance
Genuine Parts Company (NYSE:GPC) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.55-4.60 for the period, compared to the Thomson Reuters consensus estimate of $4.73. The company issued revenue guidance of $16.0-16.03 billion, compared to the consensus revenue estimate of $15.99 billion.
Shares of Genuine Parts Company (GPC) opened at 88.63 on Friday. Genuine Parts Company has a 1-year low of $79.86 and a 1-year high of $100.90. The company has a market capitalization of $13.01 billion, a price-to-earnings ratio of 19.19 and a beta of 1.10. The stock has a 50 day moving average price of $91.09 and a 200 day moving average price of $89.20.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.12). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Genuine Parts had a return on equity of 20.72% and a net margin of 4.16%. Genuine Parts’s quarterly revenue was down 72.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. On average, equities analysts anticipate that Genuine Parts Company will post $4.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a $0.675 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.05%. Genuine Parts’s dividend payout ratio (DPR) is presently 60.40%.
Genuine Parts announced that its board has initiated a share repurchase plan on Monday, August 21st that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several brokerages recently weighed in on GPC. Royal Bank Of Canada lowered their price objective on Genuine Parts from $98.00 to $95.00 and set a sector perform rating for the company in a research report on Friday. Zacks Investment Research lowered Genuine Parts from a hold rating to a sell rating in a research report on Friday. Gabelli reiterated a buy rating on shares of Genuine Parts in a research report on Friday. BidaskClub upgraded Genuine Parts from a strong sell rating to a sell rating in a research report on Monday, July 31st. Finally, Wedbush reiterated a neutral rating on shares of Genuine Parts in a research report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Genuine Parts presently has an average rating of Hold and an average price target of $96.00.
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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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