Brokerages expect that Group 1 Automotive, Inc. (NYSE:GPI) will announce $2.86 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Group 1 Automotive’s earnings, with estimates ranging from $2.72 to $3.13. Group 1 Automotive reported earnings of $2.45 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.7%. The firm is expected to announce its next earnings results on Thursday, July 25th.
According to Zacks, analysts expect that Group 1 Automotive will report full-year earnings of $10.04 per share for the current financial year, with EPS estimates ranging from $9.20 to $10.85. For the next fiscal year, analysts forecast that the business will report earnings of $10.26 per share, with EPS estimates ranging from $9.15 to $11.35. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Group 1 Automotive.
Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Thursday, April 25th. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.25. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Group 1 Automotive had a net margin of 1.38% and a return on equity of 15.56%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $1.70 EPS.
Several research firms recently weighed in on GPI. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $67.00 to $94.00 in a research note on Monday, May 6th. Buckingham Research cut shares of Group 1 Automotive from a “buy” rating to a “neutral” rating and raised their target price for the company from $72.00 to $83.00 in a research note on Friday, April 26th. Zacks Investment Research raised shares of Group 1 Automotive from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Tuesday, April 16th. ValuEngine raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Goldman Sachs Group raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and raised their target price for the company from $67.00 to $77.00 in a research note on Monday, March 4th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $84.00.
In other Group 1 Automotive news, insider Michael David Jones sold 2,500 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $77.76, for a total transaction of $194,400.00. Following the completion of the sale, the insider now owns 13,921 shares of the company’s stock, valued at approximately $1,082,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Group 1 Automotive by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 421,274 shares of the company’s stock valued at $22,209,000 after purchasing an additional 26,898 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Group 1 Automotive by 8.9% during the 4th quarter. Prudential Financial Inc. now owns 302,535 shares of the company’s stock valued at $15,949,000 after purchasing an additional 24,643 shares during the last quarter. Investment Counselors of Maryland LLC lifted its holdings in Group 1 Automotive by 100.8% during the 4th quarter. Investment Counselors of Maryland LLC now owns 371,162 shares of the company’s stock valued at $19,568,000 after purchasing an additional 186,312 shares during the last quarter. Tyvor Capital LLC lifted its holdings in Group 1 Automotive by 1,050.9% during the 4th quarter. Tyvor Capital LLC now owns 57,543 shares of the company’s stock valued at $3,034,000 after purchasing an additional 52,543 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Group 1 Automotive by 16.3% during the 4th quarter. Rhumbline Advisers now owns 58,423 shares of the company’s stock valued at $3,080,000 after purchasing an additional 8,206 shares during the last quarter. 99.96% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:GPI traded up $0.45 during midday trading on Wednesday, hitting $77.18. The stock had a trading volume of 134,200 shares, compared to its average volume of 161,200. Group 1 Automotive has a 12 month low of $48.69 and a 12 month high of $81.65. The company has a current ratio of 1.00, a quick ratio of 0.23 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $1.40 billion, a PE ratio of 8.66, a P/E/G ratio of 1.86 and a beta of 1.86.
Group 1 Automotive declared that its board has authorized a stock repurchase plan on Thursday, February 21st that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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