Genuine Parts (GPC) Scheduled to Post Quarterly Earnings on Thursday

Genuine Parts (NYSE:GPC) is set to release its earnings data before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $2.16 per share for the quarter. Genuine Parts has set its FY24 guidance at $9.70 to $9.90 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.06. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.64 billion. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. Genuine Parts’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share. On average, analysts expect Genuine Parts to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Genuine Parts Stock Down 0.2 %

Shares of NYSE GPC opened at $144.52 on Wednesday. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91. The stock’s fifty day simple moving average is $149.54 and its two-hundred day simple moving average is $142.08. The stock has a market capitalization of $20.15 billion, a PE ratio of 15.49 and a beta of 0.94. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a dividend of $1.00 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts’s dividend payout ratio is 42.87%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank purchased a new position in shares of Genuine Parts in the second quarter valued at approximately $190,000. Sunbelt Securities Inc. lifted its holdings in Genuine Parts by 122.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 88 shares in the last quarter. First Capital Advisors Group LLC. purchased a new stake in shares of Genuine Parts during the second quarter worth $31,000. Compass Wealth Management LLC purchased a new position in shares of Genuine Parts in the fourth quarter worth about $35,000. Finally, Salem Investment Counselors Inc. boosted its position in Genuine Parts by 42.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 60 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GPC. Truist Financial reiterated a “buy” rating and issued a $167.00 target price on shares of Genuine Parts in a report on Friday, April 12th. Evercore ISI reduced their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday. Wedbush restated a “neutral” rating and issued a $140.00 target price on shares of Genuine Parts in a research note on Friday, February 16th. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $168.33.

Genuine Parts Company Profile

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.