Genuine Parts (NYSE:GPC – Free Report) – Research analysts at Zacks Research lifted their FY2023 earnings estimates for Genuine Parts in a note issued to investors on Thursday, November 2nd. Zacks Research analyst R. Department now expects that the specialty retailer will post earnings per share of $9.27 for the year, up from their previous estimate of $9.23. The consensus estimate for Genuine Parts’ current full-year earnings is $9.27 per share. Zacks Research also issued estimates for Genuine Parts’ Q1 2024 earnings at $2.25 EPS, Q3 2024 earnings at $2.57 EPS and FY2024 earnings at $9.85 EPS.
Several other equities research analysts have also recently issued reports on the stock. Truist Financial cut their price objective on shares of Genuine Parts from $172.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, October 20th. JPMorgan Chase & Co. raised their price objective on shares of Genuine Parts from $184.00 to $189.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. UBS Group initiated coverage on shares of Genuine Parts in a report on Thursday, October 12th. They issued a “neutral” rating and a $160.00 target price on the stock. Stephens cut their target price on shares of Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating on the stock in a report on Friday, July 21st. Finally, Wedbush cut their target price on shares of Genuine Parts from $160.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $168.11.
Genuine Parts Stock Performance
Shares of NYSE GPC opened at $134.02 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.58 and a current ratio of 1.16. The company’s fifty day moving average price is $143.69 and its 200 day moving average price is $155.28. The company has a market capitalization of $18.79 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $187.73.
Genuine Parts (NYSE:GPC – Get Free Report) last posted its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $2.49 EPS for the quarter, topping the consensus estimate of $2.42 by $0.07. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.93 billion. Genuine Parts had a net margin of 5.44% and a return on equity of 32.22%. Genuine Parts’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.23 EPS.
Genuine Parts Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were given a $0.95 dividend. The ex-dividend date was Thursday, September 7th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.84%. Genuine Parts’s dividend payout ratio (DPR) is 42.99%.
Institutional Investors Weigh In On Genuine Parts
Institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Genuine Parts by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock worth $2,401,000 after purchasing an additional 1,180 shares in the last quarter. Cibc World Market Inc. lifted its stake in shares of Genuine Parts by 14.8% during the first quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after acquiring an additional 354 shares during the period. Sei Investments Co. lifted its stake in shares of Genuine Parts by 9.4% during the first quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock valued at $6,448,000 after acquiring an additional 4,372 shares during the period. Aviva PLC lifted its stake in Genuine Parts by 63.1% in the first quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock valued at $9,949,000 after buying an additional 30,545 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in Genuine Parts by 195.1% in the first quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock valued at $14,408,000 after buying an additional 75,591 shares during the period. 77.51% of the stock is currently owned by institutional investors and hedge funds.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.
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