Genuine Parts (NYSE:GPC) Updates FY 2019 Earnings Guidance

Genuine Parts (NYSE:GPC) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $5.65-5.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.91. The company issued revenue guidance of $19.578151285-19.765502015 billion, compared to the consensus revenue estimate of $19.55 billion.Genuine Parts also updated its FY19 guidance to $5.65-5.75 EPS.

Several equities analysts recently commented on the company. JPMorgan Chase & Co. restated a sell rating and set a $18.00 target price on shares of ABB in a research report on Monday, July 15th. Goldman Sachs Group upgraded Altria Group from a neutral rating to a buy rating and set a $59.00 target price for the company in a research report on Thursday, July 11th. ValuEngine upgraded Alleghany from a hold rating to a buy rating in a research report on Friday, April 19th. Stephens began coverage on Genuine Parts in a research report on Thursday, May 30th. They issued an overweight rating and a $114.00 price objective for the company. 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $107.33.

Shares of GPC opened at $95.18 on Friday. The company has a fifty day simple moving average of $102.95. The company has a current ratio of 1.26, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. Genuine Parts has a 52-week low of $91.04 and a 52-week high of $115.20. The company has a market cap of $13.90 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 3.26 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.08). Genuine Parts had a net margin of 4.17% and a return on equity of 23.16%. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $5 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Genuine Parts will post 5.69 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a $0.7625 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $3.05 annualized dividend and a yield of 3.20%. Genuine Parts’s payout ratio is 53.70%.

In other news, insider Scott Sonnemaker bought 5,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $99.01 per share, with a total value of $495,050.00. Following the purchase, the insider now owns 5,000 shares of the company’s stock, valued at $495,050. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.50% of the company’s stock.

Genuine Parts Company Profile

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

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