Seaport Res Ptn Has Pessimistic Outlook of GPI Q3 Earnings

Group 1 Automotive, Inc. (NYSE:GPI) – Research analysts at Seaport Res Ptn decreased their Q3 2024 earnings per share (EPS) estimates for shares of Group 1 Automotive in a note issued to investors on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now anticipates that the company will earn $9.82 per share for the quarter, down from their previous forecast of $10.39. The consensus estimate for Group 1 Automotive’s current full-year earnings is $39.39 per share. Seaport Res Ptn also issued estimates for Group 1 Automotive’s Q4 2024 earnings at $9.25 EPS, FY2024 earnings at $38.36 EPS and FY2025 earnings at $39.41 EPS.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $9.80 earnings per share for the quarter, beating the consensus estimate of $9.36 by $0.44. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The firm had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the previous year, the company posted $11.73 EPS. The company’s revenue was up 3.0% compared to the same quarter last year.

Other analysts also recently issued research reports about the stock. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Stephens started coverage on Group 1 Automotive in a research note on Thursday, September 12th. They set an “equal weight” rating and a $394.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Bank of America reduced their price objective on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Group 1 Automotive has an average rating of “Moderate Buy” and a consensus target price of $396.80.

Group 1 Automotive Price Performance

Shares of GPI stock opened at $344.95 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.02 and a quick ratio of 0.26. The company has a market capitalization of $4.67 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 1.78 and a beta of 1.32. The firm’s 50-day moving average is $364.83 and its two-hundred day moving average is $326.09. Group 1 Automotive has a 12 month low of $228.84 and a 12 month high of $393.93.

Group 1 Automotive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a dividend of $0.47 per share. The ex-dividend date was Friday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 0.55%. Group 1 Automotive’s dividend payout ratio is currently 4.44%.

Insider Activity

In related news, VP Michael David Jones sold 1,200 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $350.99, for a total transaction of $421,188.00. Following the transaction, the vice president now owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Trading of Group 1 Automotive

A number of institutional investors and hedge funds have recently bought and sold shares of GPI. The Manufacturers Life Insurance Company grew its holdings in shares of Group 1 Automotive by 22.0% in the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock valued at $190,004,000 after purchasing an additional 115,143 shares in the last quarter. Woodson Capital Management LP boosted its position in Group 1 Automotive by 114.6% in the 1st quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock valued at $41,643,000 after buying an additional 76,102 shares during the period. Wellington Management Group LLP acquired a new position in shares of Group 1 Automotive in the fourth quarter worth $21,296,000. Shellback Capital LP grew its stake in shares of Group 1 Automotive by 27.1% in the second quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock worth $28,331,000 after acquiring an additional 20,302 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its position in shares of Group 1 Automotive by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company’s stock worth $32,255,000 after acquiring an additional 16,600 shares during the period. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.