Genuine Parts (NYSE:GPC) Releases FY 2024 Earnings Guidance

Genuine Parts (NYSE:GPC) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 8.000-8.200 for the period, compared to the consensus EPS estimate of 9.360. The company issued revenue guidance of $23.3 billion-$23.6 billion, compared to the consensus revenue estimate of $23.5 billion. Genuine Parts also updated its FY24 guidance to $8.00-$8.20 EPS.

Analysts Set New Price Targets

A number of research firms have commented on GPC. Evercore ISI lowered their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Truist Financial restated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. UBS Group cut their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Wedbush reduced their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Genuine Parts from $157.00 to $162.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $157.29.

Genuine Parts Price Performance

GPC opened at $143.14 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 15.96 and a beta of 0.90. The stock has a fifty day simple moving average of $138.97 and a two-hundred day simple moving average of $143.12. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Research analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio is 44.59%.

About Genuine Parts

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.