Analysts Anticipate Genuine Parts (NYSE:GPC) Will Announce Earnings of $1.56 Per Share


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Wall Street brokerages predict that Genuine Parts (NYSE:GPC) will post $1.56 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Genuine Parts’ earnings, with the lowest EPS estimate coming in at $1.47 and the highest estimate coming in at $1.59. Genuine Parts reported earnings of $1.32 per share in the same quarter last year, which would indicate a positive year over year growth rate of 18.2%. The company is expected to announce its next earnings results on Thursday, July 29th.

According to Zacks, analysts expect that Genuine Parts will report full year earnings of $6.00 per share for the current financial year, with EPS estimates ranging from $5.73 to $6.17. For the next year, analysts expect that the company will report earnings of $6.40 per share, with EPS estimates ranging from $6.10 to $7.00. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Genuine Parts.

Genuine Parts (NYSE:GPC) last posted its earnings results on Wednesday, April 21st. The specialty retailer reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.36. The firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Genuine Parts had a positive return on equity of 23.26% and a negative net margin of 1.10%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share.

A number of equities research analysts have weighed in on the company. Evercore ISI reiterated a “hold” rating on shares of Genuine Parts in a research note on Sunday, April 25th. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Tuesday, April 20th. TheStreet raised Genuine Parts from a “c+” rating to a “b” rating in a report on Monday, April 26th. Royal Bank of Canada boosted their target price on Genuine Parts from $115.00 to $129.00 and gave the company a “sector perform” rating in a report on Thursday, April 29th. Finally, Argus boosted their target price on Genuine Parts from $109.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $122.14.

NYSE GPC traded up $3.01 on Tuesday, reaching $130.26. The stock had a trading volume of 927,264 shares, compared to its average volume of 863,213. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.66 and a current ratio of 1.23. Genuine Parts has a 12-month low of $67.12 and a 12-month high of $130.35. The business’s 50-day moving average price is $118.78 and its 200 day moving average price is $105.12. The stock has a market cap of $18.82 billion, a P/E ratio of -97.21 and a beta of 1.05.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 4th will be issued a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, June 3rd. Genuine Parts’s dividend payout ratio is presently 57.29%.

A number of hedge funds have recently made changes to their positions in the stock. Dynamic Advisor Solutions LLC grew its holdings in Genuine Parts by 1.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 5,349 shares of the specialty retailer’s stock worth $618,000 after acquiring an additional 84 shares during the period. IFP Advisors Inc grew its holdings in Genuine Parts by 4.0% in the first quarter. IFP Advisors Inc now owns 2,239 shares of the specialty retailer’s stock valued at $260,000 after purchasing an additional 86 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Genuine Parts by 49.5% in the fourth quarter. Penserra Capital Management LLC now owns 305 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 101 shares during the last quarter. Trustcore Financial Services LLC grew its holdings in Genuine Parts by 1.7% in the fourth quarter. Trustcore Financial Services LLC now owns 6,578 shares of the specialty retailer’s stock valued at $661,000 after purchasing an additional 112 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Genuine Parts by 3.3% in the first quarter. Parallel Advisors LLC now owns 3,573 shares of the specialty retailer’s stock valued at $413,000 after purchasing an additional 113 shares during the last quarter. 76.87% of the stock is currently owned by hedge funds and other institutional investors.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. The company distributes automotive replacement parts for imported vehicles, hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Earnings History and Estimates for Genuine Parts (NYSE:GPC)

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