Genuine Parts (GPC) Set to Announce Earnings on Thursday

Posted by Defense World Staff on Apr 13th, 2023

Genuine Parts (NYSE:GPC – Get Rating) is set to release its earnings data before the market opens on Thursday, April 20th. Analysts expect Genuine Parts to post earnings of $2.02 per share for the quarter. Genuine Parts has set its FY 2023 guidance at $8.80-$8.95 EPS and its FY23 guidance at $8.80-8.95 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Genuine Parts (NYSE:GPC – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The specialty retailer reported $2.05 EPS for the quarter, topping the consensus estimate of $1.90 by $0.15. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.33 billion. Genuine Parts had a return on equity of 32.22% and a net margin of 5.35%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.79 EPS. On average, analysts expect Genuine Parts to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $166.62 on Thursday. The company has a quick ratio of 0.57, a current ratio of 1.15 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $168.56 and its two-hundred day moving average is $170.34. The company has a market cap of $23.46 billion, a P/E ratio of 20.05, a P/E/G ratio of 1.81 and a beta of 0.89. Genuine Parts has a 12 month low of $125.55 and a 12 month high of $187.73.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd were given a $0.95 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, March 2nd. Genuine Parts’s payout ratio is currently 45.73%.

Analyst Ratings Changes

Several analysts have recently weighed in on GPC shares. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a report on Friday, February 24th. StockNews.com started coverage on Genuine Parts in a report on Thursday, March 16th. They set a “buy” rating on the stock. The Goldman Sachs Group lifted their price objective on Genuine Parts from $147.00 to $157.00 and gave the stock a “sell” rating in a report on Thursday, February 23rd. Finally, Truist Financial raised Genuine Parts from a “hold” rating to a “buy” rating and set a $186.00 price objective on the stock in a report on Friday, March 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $152.20.

Insider Activity at Genuine Parts

In related news, CEO Paul D. Donahue purchased 1,600 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The shares were acquired at an average price of $156.08 per share, with a total value of $249,728.00. Following the purchase, the chief executive officer now directly owns 59,727 shares in the company, valued at $9,322,190.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is owned by insiders.

Institutional Trading of Genuine Parts

Several institutional investors have recently bought and sold shares of the stock. Compass Wealth Management LLC acquired a new stake in Genuine Parts in the 4th quarter valued at $35,000. CreativeOne Wealth LLC boosted its stake in Genuine Parts by 202.5% in the 4th quarter. CreativeOne Wealth LLC now owns 6,298 shares of the specialty retailer’s stock valued at $1,093,000 after buying an additional 4,216 shares in the last quarter. Financial Advocates Investment Management boosted its stake in Genuine Parts by 62.3% in the 4th quarter. Financial Advocates Investment Management now owns 3,080 shares of the specialty retailer’s stock valued at $534,000 after buying an additional 1,182 shares in the last quarter. RFG Advisory LLC acquired a new stake in Genuine Parts in the 4th quarter valued at $204,000. Finally, United Capital Financial Advisers LLC boosted its stake in Genuine Parts by 2.9% in the 4th quarter. United Capital Financial Advisers LLC now owns 7,460 shares of the specialty retailer’s stock valued at $1,294,000 after buying an additional 211 shares in the last quarter. Institutional investors and hedge funds own 78.14% of the company’s stock.

Genuine Parts Company Profile

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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.