Genuine Parts (NYSE:GPC) – Research analysts at Wedbush dropped their FY2019 earnings per share estimates for shares of Genuine Parts in a research note issued on Friday, October 18th. Wedbush analyst S. Basham now forecasts that the specialty retailer will post earnings of $5.65 per share for the year, down from their previous estimate of $5.70. Wedbush also issued estimates for Genuine Parts’ Q4 2019 earnings at $1.30 EPS, Q1 2020 earnings at $1.38 EPS, Q3 2020 earnings at $1.57 EPS and Q4 2020 earnings at $1.38 EPS.
Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, October 17th. The specialty retailer reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. Genuine Parts had a return on equity of 23.20% and a net margin of 4.14%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the business posted $1.48 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year.
GPC has been the topic of several other research reports. Royal Bank of Canada set a $99.00 price target on shares of Genuine Parts and gave the company a “hold” rating in a research report on Friday, October 18th. Bank of America raised their price target on shares of Genuine Parts from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Raymond James began coverage on shares of Genuine Parts in a research report on Monday, October 7th. They issued a “market perform” rating on the stock. Goldman Sachs Group began coverage on shares of Genuine Parts in a research report on Thursday, July 11th. They issued a “neutral” rating and a $107.00 price target on the stock. Finally, Jefferies Financial Group set a $102.00 price target on shares of Genuine Parts and gave the company a “hold” rating in a research report on Friday, July 19th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Genuine Parts has a consensus rating of “Hold” and an average price target of $105.50.
Shares of NYSE GPC opened at $103.31 on Monday. Genuine Parts has a fifty-two week low of $87.26 and a fifty-two week high of $115.20. The stock has a market cap of $14.81 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 3.37 and a beta of 0.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 1.26. The firm’s 50-day simple moving average is $96.91 and its 200 day simple moving average is $99.28.
Institutional investors have recently bought and sold shares of the business. North Star Investment Management Corp. bought a new position in shares of Genuine Parts during the 3rd quarter worth approximately $90,000. Commonwealth Equity Services LLC lifted its position in shares of Genuine Parts by 4.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 48,509 shares of the specialty retailer’s stock worth $5,024,000 after buying an additional 1,926 shares in the last quarter. Neuburgh Advisers LLC lifted its position in shares of Genuine Parts by 46.4% during the 2nd quarter. Neuburgh Advisers LLC now owns 7,216 shares of the specialty retailer’s stock worth $747,000 after buying an additional 2,288 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Genuine Parts by 5.5% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,996 shares of the specialty retailer’s stock worth $2,175,000 after buying an additional 1,100 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its position in shares of Genuine Parts by 23.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 60,184 shares of the specialty retailer’s stock worth $6,234,000 after buying an additional 11,268 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $0.7625 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.05 annualized dividend and a dividend yield of 2.95%. Genuine Parts’s dividend payout ratio is currently 53.70%.
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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