Analysts expect Genuine Parts Company (NYSE:GPC) to post sales of $3.95 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Genuine Parts’ earnings. The lowest sales estimate is $3.87 billion and the highest is $4.07 billion. Genuine Parts reported sales of $3.78 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.5%. The business is scheduled to issue its next earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that Genuine Parts will report full year sales of $3.95 billion for the current year, with estimates ranging from $15.97 billion to $16.00 billion. For the next year, analysts anticipate that the business will report sales of $17.70 billion per share, with estimates ranging from $16.60 billion to $18.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Genuine Parts.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.12). Genuine Parts had a net margin of 4.16% and a return on equity of 20.49%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the company earned $1.24 earnings per share. The firm’s revenue was down 72.2% on a year-over-year basis.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. Gabelli upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Friday, July 21st. BidaskClub raised shares of Genuine Parts from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Royal Bank Of Canada raised their price objective on shares of Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 26th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $95.00 price objective on shares of Genuine Parts in a report on Sunday, September 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $96.00.
Several institutional investors have recently modified their holdings of GPC. BlackRock Inc. increased its holdings in shares of Genuine Parts by 8.8% in the second quarter. BlackRock Inc. now owns 15,716,092 shares of the specialty retailer’s stock valued at $1,457,825,000 after purchasing an additional 1,273,864 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Genuine Parts by 43.7% in the third quarter. Wells Fargo & Company MN now owns 3,027,033 shares of the specialty retailer’s stock valued at $289,536,000 after purchasing an additional 921,258 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Genuine Parts by 13.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,150,904 shares of the specialty retailer’s stock worth $663,318,000 after acquiring an additional 874,466 shares during the period. Janus Henderson Group PLC grew its holdings in Genuine Parts by 2,560.0% during the 2nd quarter. Janus Henderson Group PLC now owns 532,525 shares of the specialty retailer’s stock worth $49,397,000 after acquiring an additional 512,505 shares during the period. Finally, Prudential Financial Inc. grew its holdings in Genuine Parts by 175.1% during the 2nd quarter. Prudential Financial Inc. now owns 701,644 shares of the specialty retailer’s stock worth $65,085,000 after acquiring an additional 446,560 shares during the period. 73.92% of the stock is owned by institutional investors and hedge funds.
Shares of Genuine Parts (GPC) traded down $0.11 on Friday, reaching $85.45. 1,228,100 shares of the company’s stock were exchanged, compared to its average volume of 948,245. The company has a market capitalization of $12,528.17, a PE ratio of 18.78, a price-to-earnings-growth ratio of 3.26 and a beta of 1.11. The company has a current ratio of 1.32, a quick ratio of 0.62 and a debt-to-equity ratio of 0.16. Genuine Parts has a 1 year low of $79.86 and a 1 year high of $100.90.
Genuine Parts announced that its Board of Directors has authorized a share repurchase plan on Monday, August 21st that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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About Genuine Parts
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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