Zacks: Brokerages Expect Group 1 Automotive, Inc. (NYSE:GPI) Will Post Quarterly Sales of $2.97 Billion


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Wall Street brokerages expect Group 1 Automotive, Inc. (NYSE:GPI) to announce sales of $2.97 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Group 1 Automotive’s earnings, with the highest sales estimate coming in at $3.19 billion and the lowest estimate coming in at $2.75 billion. Group 1 Automotive reported sales of $2.13 billion during the same quarter last year, which would suggest a positive year over year growth rate of 39.4%. The firm is expected to issue its next earnings report on Thursday, July 29th.

On average, analysts expect that Group 1 Automotive will report full year sales of $12.25 billion for the current financial year, with estimates ranging from $11.39 billion to $12.70 billion. For the next financial year, analysts anticipate that the firm will report sales of $13.28 billion, with estimates ranging from $13.22 billion to $13.34 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Group 1 Automotive.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Wednesday, April 28th. The company reported $5.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.43 by $1.14. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.75 billion. Group 1 Automotive had a return on equity of 22.60% and a net margin of 2.13%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $1.66 EPS.

GPI has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded Group 1 Automotive from a “sell” rating to a “neutral” rating in a research note on Tuesday. Benchmark lifted their price target on Group 1 Automotive from $190.00 to $214.00 and gave the company a “buy” rating in a research note on Monday. Stephens lifted their price target on Group 1 Automotive from $163.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, March 23rd. Finally, Morgan Stanley lifted their target price on shares of Group 1 Automotive from $172.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Group 1 Automotive has a consensus rating of “Buy” and a consensus target price of $156.68.

In related news, VP Darryl M. Burman sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $155.44, for a total value of $544,040.00. Also, CEO Earl J. Hesterberg sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $169.33, for a total value of $3,386,600.00. Following the completion of the sale, the chief executive officer now owns 125,052 shares of the company’s stock, valued at approximately $21,175,055.16. The disclosure for this sale can be found here. Insiders have sold 47,000 shares of company stock valued at $7,635,455 in the last three months. 5.20% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Huntington National Bank lifted its position in Group 1 Automotive by 21,200.0% in the 4th quarter. Huntington National Bank now owns 213 shares of the company’s stock worth $28,000 after buying an additional 212 shares during the last quarter. Vantage Consulting Group Inc bought a new stake in Group 1 Automotive in the 4th quarter worth approximately $35,000. Private Capital Group LLC bought a new stake in Group 1 Automotive in the 4th quarter worth approximately $39,000. Veriti Management LLC bought a new stake in Group 1 Automotive in the 4th quarter worth approximately $93,000. Finally, Credit Agricole S A bought a new stake in Group 1 Automotive in the 4th quarter worth approximately $101,000.

Shares of GPI traded up $2.56 during trading hours on Tuesday, hitting $169.70. The stock had a trading volume of 70,122 shares, compared to its average volume of 178,224. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 0.30. The firm has a 50 day simple moving average of $161.45 and a 200-day simple moving average of $141.78. The firm has a market capitalization of $3.08 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. Group 1 Automotive has a 1-year low of $41.60 and a 1-year high of $175.04.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 1st were issued a dividend of $0.31 per share. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, February 26th. This represents a $1.24 annualized dividend and a dividend yield of 0.73%. Group 1 Automotive’s payout ratio is presently 11.34%.

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 and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It operates primarily in the metropolitan areas in 15 states in the United States; 33 towns in the United Kingdom; and 3 states in Brazil.

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