Genuine Parts (NYSE:GPC) Releases FY 2019 Earnings Guidance

Genuine Parts (NYSE:GPC) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.65-5.75 for the period, compared to the Thomson Reuters consensus estimate of $5.91. The company issued revenue guidance of $19.578151285-19.765502015 billion, compared to the consensus revenue estimate of $19.55 billion.Genuine Parts also updated its FY19 guidance to $5.65-5.75 EPS.

Shares of NYSE GPC traded down $0.87 during mid-day trading on Friday, reaching $96.74. The company had a trading volume of 15,319 shares, compared to its average volume of 661,451. Genuine Parts has a twelve month low of $91.04 and a twelve month high of $115.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.20 and a quick ratio of 0.64. The firm has a market capitalization of $14.93 billion, a PE ratio of 17.02, a PEG ratio of 3.37 and a beta of 0.94. The stock has a 50 day simple moving average of $103.00.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.08). The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $5 billion. Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 earnings per share. Sell-side analysts forecast that Genuine Parts will post 5.9 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a $0.7625 dividend. This represents a $3.05 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, June 6th. Genuine Parts’s dividend payout ratio is presently 53.70%.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of GALP ENERGIA SG/ADR from a sell rating to a hold rating in a report on Monday, May 27th. Stephens assumed coverage on shares of Genuine Parts in a report on Thursday, May 30th. They issued an overweight rating and a $114.00 price objective for the company. JPMorgan Chase & Co. reiterated a sell rating and issued a $18.00 price objective on shares of ABB in a report on Monday. ValuEngine upgraded shares of Alleghany from a hold rating to a buy rating in a report on Friday, April 19th. Finally, Goldman Sachs Group upgraded shares of Altria Group from a neutral rating to a buy rating and set a $59.00 price objective for the company in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $106.29.

In other news, insider Scott Sonnemaker purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average cost of $99.01 per share, for a total transaction of $495,050.00. Following the completion of the acquisition, the insider now directly owns 5,000 shares of the company’s stock, valued at $495,050. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.

Genuine Parts Company Profile

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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