FY2019 EPS Estimates for Genuine Parts Cut by Jefferies Financial Group (NYSE:GPC)

Genuine Parts (NYSE:GPC) – Stock analysts at Jefferies Financial Group lowered their FY2019 earnings estimates for Genuine Parts in a report issued on Thursday, October 17th. Jefferies Financial Group analyst B. Jordan now anticipates that the specialty retailer will post earnings per share of $5.67 for the year, down from their prior forecast of $5.69. Jefferies Financial Group currently has a “Hold” rating and a $102.00 target price on the stock. Jefferies Financial Group also issued estimates for Genuine Parts’ Q4 2019 earnings at $1.33 EPS and Q4 2020 earnings at $1.48 EPS.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, October 17th. The specialty retailer reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.03 billion. Genuine Parts had a return on equity of 23.20% and a net margin of 4.14%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 earnings per share.

A number of other research firms have also commented on GPC. Raymond James assumed coverage on Genuine Parts in a research note on Monday, October 7th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 target price for the company in a report on Wednesday, July 24th. Royal Bank of Canada set a $99.00 target price on Genuine Parts and gave the stock a “hold” rating in a report on Friday. Bank of America lifted their target price on Genuine Parts from $100.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Goldman Sachs Group assumed coverage on Genuine Parts in a report on Thursday, July 11th. They issued a “neutral” rating and a $107.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $105.50.

Genuine Parts stock opened at $101.86 on Monday. The stock’s 50 day moving average is $96.64 and its 200 day moving average is $99.32. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68. The firm has a market cap of $14.45 billion, a P/E ratio of 17.93, a P/E/G ratio of 3.25 and a beta of 0.95. Genuine Parts has a one year low of $87.26 and a one year high of $115.20.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $0.7625 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.05 dividend on an annualized basis and a yield of 2.99%. Genuine Parts’s payout ratio is currently 53.70%.

Hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc bought a new stake in shares of Genuine Parts during the second quarter valued at approximately $26,000. Strategic Blueprint LLC bought a new stake in shares of Genuine Parts during the third quarter valued at approximately $30,000. Marshall Wace North America L.P. bought a new stake in shares of Genuine Parts during the first quarter valued at approximately $44,000. CSat Investment Advisory L.P. increased its holdings in shares of Genuine Parts by 173.9% during the second quarter. CSat Investment Advisory L.P. now owns 482 shares of the specialty retailer’s stock valued at $50,000 after acquiring an additional 306 shares in the last quarter. Finally, Pflug Koory LLC bought a new stake in shares of Genuine Parts during the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

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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