Group 1 Automotive, Inc. (NYSE:GPI – Free Report) – Equities research analysts at Zacks Research boosted their Q3 2023 earnings per share (EPS) estimates for shares of Group 1 Automotive in a note issued to investors on Wednesday, August 9th. Zacks Research analyst R. Singhi now expects that the company will earn $10.18 per share for the quarter, up from their previous forecast of $9.73. The consensus estimate for Group 1 Automotive’s current full-year earnings is $42.77 per share. Zacks Research also issued estimates for Group 1 Automotive’s Q4 2023 earnings at $8.88 EPS, FY2023 earnings at $41.71 EPS, Q1 2024 earnings at $7.40 EPS, Q4 2024 earnings at $8.85 EPS, FY2024 earnings at $35.16 EPS and FY2025 earnings at $36.65 EPS.
Group 1 Automotive (NYSE:GPI – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $11.73 EPS for the quarter, beating the consensus estimate of $11.08 by $0.65. The firm had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Group 1 Automotive had a return on equity of 28.33% and a net margin of 3.98%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $12.00 EPS.
View Our Latest Research Report on Group 1 Automotive
Group 1 Automotive Trading Up 3.8 %
Group 1 Automotive stock opened at $273.18 on Friday. The business has a 50 day moving average price of $254.05 and a two-hundred day moving average price of $232.68. The company has a quick ratio of 0.30, a current ratio of 1.11 and a debt-to-equity ratio of 0.86. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 5.89, a price-to-earnings-growth ratio of 2.00 and a beta of 1.46. Group 1 Automotive has a 12 month low of $136.16 and a 12 month high of $277.47.
Institutional Investors Weigh In On Group 1 Automotive
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Group 1 Automotive by 2.1% in the 1st quarter. BlackRock Inc. now owns 2,628,581 shares of the company’s stock valued at $595,163,000 after buying an additional 54,412 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Group 1 Automotive by 68.0% during the first quarter. Goldman Sachs Group Inc. now owns 621,455 shares of the company’s stock worth $104,299,000 after purchasing an additional 251,565 shares during the period. State Street Corp grew its stake in shares of Group 1 Automotive by 1.2% during the first quarter. State Street Corp now owns 596,620 shares of the company’s stock worth $135,087,000 after purchasing an additional 7,293 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Group 1 Automotive by 5.5% during the second quarter. The Manufacturers Life Insurance Company now owns 510,835 shares of the company’s stock worth $131,847,000 after purchasing an additional 26,458 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Group 1 Automotive by 3,302.8% during the first quarter. Envestnet Asset Management Inc. now owns 493,061 shares of the company’s stock worth $2,752,000 after purchasing an additional 478,571 shares during the period. 99.92% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Group 1 Automotive
In related news, VP Peter C. Delongchamps sold 10,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $246.00, for a total transaction of $2,460,000.00. Following the completion of the sale, the vice president now directly owns 26,573 shares of the company’s stock, valued at approximately $6,536,958. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Darryl M. Burman sold 2,500 shares of Group 1 Automotive stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $246.78, for a total value of $616,950.00. Following the completion of the sale, the vice president now directly owns 13,495 shares of the company’s stock, valued at approximately $3,330,296.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Peter C. Delongchamps sold 10,000 shares of Group 1 Automotive stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $246.00, for a total value of $2,460,000.00. Following the completion of the sale, the vice president now directly owns 26,573 shares of the company’s stock, valued at $6,536,958. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock valued at $3,943,728 in the last three months. Corporate insiders own 3.50% of the company’s stock.
Group 1 Automotive Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.80 dividend on an annualized basis and a yield of 0.66%. Group 1 Automotive’s dividend payout ratio is 3.88%.
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.
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