Zacks: Brokerages Expect Genuine Parts (NYSE:GPC) Will Announce Earnings of $1.63 Per Share

Equities research analysts expect Genuine Parts (NYSE:GPC) to report earnings per share of $1.63 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Genuine Parts’ earnings. The highest EPS estimate is $1.70 and the lowest is $1.56. Genuine Parts also reported earnings of $1.63 per share during the same quarter last year. The business is scheduled to issue its next earnings report on Thursday, October 28th.

On average, analysts expect that Genuine Parts will report full-year earnings of $6.40 per share for the current financial year, with EPS estimates ranging from $6.27 to $6.60. For the next year, analysts anticipate that the business will report earnings of $6.81 per share, with EPS estimates ranging from $6.61 to $7.34. Zacks’ EPS calculations are an average based on a survey of analysts that cover Genuine Parts.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, July 22nd. The specialty retailer reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.20. Genuine Parts had a return on equity of 28.92% and a net margin of 4.55%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the company posted $1.32 EPS. The firm’s revenue was up 25.1% compared to the same quarter last year.

Separately, Zacks Investment Research upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Tuesday, July 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $129.17.

Shares of GPC stock traded up $3.59 on Wednesday, hitting $123.59. 15,876 shares of the stock were exchanged, compared to its average volume of 745,439. The firm has a market capitalization of $17.70 billion, a PE ratio of 21.39, a P/E/G ratio of 2.02 and a beta of 1.11. The company has a current ratio of 1.18, a quick ratio of 0.62 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $124.92 and its two-hundred day moving average is $123.71. Genuine Parts has a one year low of $88.99 and a one year high of $135.93.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be paid a dividend of $0.815 per share. The ex-dividend date is Thursday, September 2nd. This represents a $3.26 dividend on an annualized basis and a yield of 2.64%. Genuine Parts’s payout ratio is 61.86%.

In related news, Director John R. Holder bought 2,000 shares of the business’s stock in a transaction dated Friday, August 13th. The stock was acquired at an average price of $124.93 per share, with a total value of $249,860.00. Following the completion of the purchase, the director now directly owns 17,482 shares of the company’s stock, valued at $2,184,026.26. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in Genuine Parts by 22.0% during the 2nd quarter. BlackRock Inc. now owns 14,191,810 shares of the specialty retailer’s stock worth $1,794,838,000 after purchasing an additional 2,561,204 shares in the last quarter. Cullen Capital Management LLC lifted its position in shares of Genuine Parts by 230.5% during the 1st quarter. Cullen Capital Management LLC now owns 1,591,073 shares of the specialty retailer’s stock worth $183,912,000 after purchasing an additional 1,109,649 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Genuine Parts by 475.6% during the second quarter. Prudential Financial Inc. now owns 953,216 shares of the specialty retailer’s stock worth $120,553,000 after purchasing an additional 787,605 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in Genuine Parts by 43.6% in the first quarter. Standard Life Aberdeen plc now owns 1,653,851 shares of the specialty retailer’s stock valued at $191,243,000 after buying an additional 501,896 shares during the last quarter. Finally, Candlestick Capital Management LP acquired a new stake in Genuine Parts in the first quarter valued at $52,814,000. Institutional investors own 76.76% of the company’s stock.

Genuine Parts Company Profile

Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group and Industrial Parts Group. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.

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

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