Wedbush Analysts Increase Earnings Estimates for Genuine Parts (GPC)

Genuine Parts (NYSE:GPC) – Equities researchers at Wedbush increased their Q3 2019 earnings per share (EPS) estimates for Genuine Parts in a report released on Monday, April 22nd. Wedbush analyst S. Basham now anticipates that the specialty retailer will earn $1.53 per share for the quarter, up from their previous estimate of $1.52. Wedbush currently has a “Neutral” rating on the stock. Wedbush also issued estimates for Genuine Parts’ Q4 2019 earnings at $1.41 EPS, Q1 2020 earnings at $1.31 EPS, Q2 2020 earnings at $1.74 EPS, Q3 2020 earnings at $1.58 EPS, Q4 2020 earnings at $1.46 EPS and FY2020 earnings at $6.08 EPS.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.03). Genuine Parts had a net margin of 4.20% and a return on equity of 23.46%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter last year, the firm posted $1.27 earnings per share. Genuine Parts’s revenue was up 3.3% compared to the same quarter last year.



Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research note on Friday, January 4th. ValuEngine upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. Evercore ISI started coverage on Genuine Parts in a research note on Wednesday, March 20th. They set an “in-line” rating and a $110.00 price objective for the company. Finally, Bank of America upgraded Genuine Parts from an “underperform” rating to a “neutral” rating in a research note on Wednesday, January 9th. Six investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $103.60.

Shares of GPC opened at $105.23 on Tuesday. The firm has a market cap of $15.39 billion, a P/E ratio of 18.53, a P/E/G ratio of 3.42 and a beta of 1.04. The company has a quick ratio of 0.67, a current ratio of 1.20 and a debt-to-equity ratio of 0.67. Genuine Parts has a 12 month low of $87.35 and a 12 month high of $115.20.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $0.7625 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.05 dividend on an annualized basis and a yield of 2.90%. Genuine Parts’s dividend payout ratio (DPR) is presently 53.70%.

A number of hedge funds have recently made changes to their positions in GPC. FMR LLC boosted its position in Genuine Parts by 1.0% during the 3rd quarter. FMR LLC now owns 177,661 shares of the specialty retailer’s stock worth $17,659,000 after acquiring an additional 1,825 shares during the period. Renaissance Technologies LLC boosted its position in Genuine Parts by 52.7% during the 3rd quarter. Renaissance Technologies LLC now owns 178,800 shares of the specialty retailer’s stock worth $17,773,000 after acquiring an additional 61,700 shares during the period. Pacer Advisors Inc. boosted its position in Genuine Parts by 31.0% during the 3rd quarter. Pacer Advisors Inc. now owns 8,796 shares of the specialty retailer’s stock worth $874,000 after acquiring an additional 2,080 shares during the period. Man Group plc boosted its position in Genuine Parts by 31.5% during the 3rd quarter. Man Group plc now owns 112,393 shares of the specialty retailer’s stock worth $11,172,000 after acquiring an additional 26,930 shares during the period. Finally, Kentucky Retirement Systems acquired a new position in Genuine Parts during the 3rd quarter worth $1,060,000. Institutional investors own 76.12% of the company’s stock.

About Genuine Parts

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Earnings History and Estimates for Genuine Parts (NYSE:GPC)

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