Wall Street brokerages expect Genuine Parts (NYSE:GPC) to post $5.01 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Genuine Parts’ earnings, with estimates ranging from $5.00 billion to $5.02 billion. Genuine Parts posted sales of $4.82 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.9%. The company is expected to report its next earnings report before the market opens on Thursday, July 18th.
According to Zacks, analysts expect that Genuine Parts will report full year sales of $19.40 billion for the current year, with estimates ranging from $19.38 billion to $19.42 billion. For the next financial year, analysts expect that the firm will report sales of $20.06 billion, with estimates ranging from $20.02 billion to $20.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Genuine Parts.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.03). Genuine Parts had a net margin of 4.20% and a return on equity of 23.46%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter in the previous year, the business posted $1.27 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis.
A number of brokerages recently weighed in on GPC. Evercore ISI began coverage on Polarityte in a research report on Wednesday, March 20th. They set an “outperform” rating and a $26.00 price objective on the stock. Stephens began coverage on Genuine Parts in a research report on Thursday, May 30th. They set an “overweight” rating and a $114.00 price objective on the stock. ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Goldman Sachs Group set a €34.00 ($39.53) price objective on Siemens Healthineers and gave the stock a “neutral” rating in a research report on Thursday. Finally, Zacks Investment Research upgraded GALP ENERGIA SG/ADR from a “sell” rating to a “hold” rating in a research report on Monday, May 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $105.57.
Shares of GPC traded down $0.24 during midday trading on Thursday, hitting $103.95. The company’s stock had a trading volume of 472,908 shares, compared to its average volume of 863,006. Genuine Parts has a one year low of $91.04 and a one year high of $115.20. The company’s fifty day moving average price is $102.15. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.20 and a quick ratio of 0.64. The company has a market cap of $15.25 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 3.49 and a beta of 0.94.
The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a dividend of $0.7625 per share. This represents a $3.05 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, June 6th. Genuine Parts’s payout ratio is presently 53.70%.
In related news, insider Scott Sonnemaker bought 5,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average cost of $99.01 per share, with a total value of $495,050.00. Following the acquisition, the insider now owns 5,000 shares of the company’s stock, valued at $495,050. The purchase was disclosed in a filing with the SEC, which is available through this link. 4.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Private Trust Co. NA lifted its holdings in Genuine Parts by 3.8% during the 1st quarter. Private Trust Co. NA now owns 2,514 shares of the specialty retailer’s stock worth $281,000 after buying an additional 93 shares during the period. Conning Inc. lifted its stake in shares of Genuine Parts by 3.5% in the 1st quarter. Conning Inc. now owns 2,959 shares of the specialty retailer’s stock valued at $331,000 after purchasing an additional 100 shares during the period. Mason Street Advisors LLC lifted its stake in shares of Genuine Parts by 0.6% in the 1st quarter. Mason Street Advisors LLC now owns 20,821 shares of the specialty retailer’s stock valued at $2,333,000 after purchasing an additional 130 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Genuine Parts by 11.4% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,325 shares of the specialty retailer’s stock valued at $148,000 after purchasing an additional 136 shares during the period. Finally, CIBC World Markets Inc. lifted its stake in shares of Genuine Parts by 4.6% in the 1st quarter. CIBC World Markets Inc. now owns 3,132 shares of the specialty retailer’s stock valued at $351,000 after purchasing an additional 139 shares during the period. 76.32% of the stock is currently owned by hedge funds and other institutional investors.
About Genuine Parts
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, 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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