Genuine Parts (NYSE:GPC) Releases FY21 Earnings Guidance

Genuine Parts (NYSE:GPC) updated its FY21 earnings guidance on Thursday. The company provided EPS guidance of $6.20-6.35 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.08. The company issued revenue guidance of +10-11% to $18.2-18.4 billion, compared to the consensus revenue estimate of $17.67 billion.Genuine Parts also updated its FY 2021 guidance to $6.200-$6.350 EPS.

A number of analysts have issued reports on the company. Zacks Investment Research raised Genuine Parts from a hold rating to a buy rating and set a $125.00 price target on the stock in a research note on Tuesday, April 20th. TheStreet raised Genuine Parts from a c+ rating to a b rating in a research note on Monday, April 26th. JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $115.00 to $140.00 and gave the company an overweight rating in a research note on Monday, April 26th. Argus lifted their price objective on Genuine Parts from $109.00 to $140.00 and gave the company a buy rating in a research note on Wednesday, April 28th. Finally, The Goldman Sachs Group raised Genuine Parts from a sell rating to a neutral rating and lifted their price objective for the company from $113.00 to $125.00 in a research note on Tuesday, May 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Genuine Parts currently has a consensus rating of Hold and an average price target of $127.50.

Shares of NYSE GPC traded down $2.72 during midday trading on Thursday, hitting $126.45. The stock had a trading volume of 27,335 shares, compared to its average volume of 509,278. The company has a market cap of $18.27 billion, a P/E ratio of 371.72, a price-to-earnings-growth ratio of 2.96 and a beta of 1.11. Genuine Parts has a 1-year low of $87.04 and a 1-year high of $135.93. The company has a quick ratio of 0.64, a current ratio of 1.21 and a debt-to-equity ratio of 0.74. The business has a fifty day moving average of $128.47.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, July 22nd. The specialty retailer reported $1.74 EPS for the quarter, beating the consensus estimate of $1.54 by $0.20. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.34 billion. Genuine Parts had a return on equity of 27.80% and a net margin of 0.31%. The company’s revenue was up 25.1% on a year-over-year basis. During the same period last year, the business posted $1.32 EPS. On average, sell-side analysts anticipate that Genuine Parts will post 6.08 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 1st. Investors of record on Friday, June 4th were issued a dividend of $0.815 per share. The ex-dividend date was Thursday, June 3rd. This represents a $3.26 annualized dividend and a dividend yield of 2.58%. Genuine Parts’s payout ratio is currently 61.86%.

In related news, insider Kevin Herron sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $132.31, for a total transaction of $330,775.00. Following the sale, the insider now directly owns 13,754 shares in the company, valued at approximately $1,819,791.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

About Genuine Parts

Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group and Industrial Parts Group. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.

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

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