Genuine Parts (GPC) to Announce Earnings on Thursday

Genuine Parts (NYSE:GPC) is scheduled to issue its quarterly earnings data before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $2.16 per share for the quarter. Genuine Parts has set its FY24 guidance at $9.70 to $9.90 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. Genuine Parts’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. On average, analysts expect Genuine Parts to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Genuine Parts Stock Down 0.2 %

Shares of GPC stock opened at $144.52 on Wednesday. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. The stock has a fifty day moving average price of $149.54 and a 200 day moving average price of $142.08. The stock has a market cap of $20.15 billion, a P/E ratio of 15.49 and a beta of 0.94.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. Genuine Parts’s dividend payout ratio (DPR) is presently 42.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GPC shares. Truist Financial restated a “buy” rating and set a $167.00 price target on shares of Genuine Parts in a research note on Friday, April 12th. Evercore ISI decreased their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Wedbush reaffirmed a “neutral” rating and set a $140.00 price target on shares of Genuine Parts in a report on Friday, February 16th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Genuine Parts has an average rating of “Moderate Buy” and a consensus target price of $168.33.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genuine Parts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Genuine Parts by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock valued at $2,401,000 after buying an additional 1,180 shares during the last quarter. Cibc World Market Inc. grew its stake in Genuine Parts by 14.8% in the first quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after purchasing an additional 354 shares in the last quarter. Sei Investments Co. raised its position in Genuine Parts by 9.4% during the first quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock worth $6,448,000 after acquiring an additional 4,372 shares in the last quarter. Aviva PLC lifted its stake in Genuine Parts by 63.1% in the first quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock valued at $9,949,000 after acquiring an additional 30,545 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Genuine Parts by 195.1% in the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock valued at $14,408,000 after acquiring an additional 75,591 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.