Group 1 Automotive, Inc. (NYSE:GPI) Expected to Announce Quarterly Sales of $3.41 Billion

Wall Street brokerages expect that Group 1 Automotive, Inc. (NYSE:GPI) will report $3.41 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Group 1 Automotive’s earnings. The lowest sales estimate is $3.28 billion and the highest is $3.53 billion. Group 1 Automotive reported sales of $3.04 billion in the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The business is expected to report its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Group 1 Automotive will report full year sales of $13.23 billion for the current year, with estimates ranging from $12.46 billion to $13.66 billion. For the next financial year, analysts forecast that the business will post sales of $14.68 billion, with estimates ranging from $14.18 billion to $15.19 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Group 1 Automotive.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, July 28th. The company reported $10.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $7.13 by $3.18. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Group 1 Automotive had a net margin of 4.03% and a return on equity of 33.86%.

A number of research firms have recently commented on GPI. Morgan Stanley lifted their price target on shares of Group 1 Automotive from $203.00 to $206.00 and gave the company an “equal weight” rating in a research report on Thursday, August 5th. Bank of America lifted their price target on shares of Group 1 Automotive from $305.00 to $351.00 and gave the company a “buy” rating in a research report on Friday, July 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $223.20.

Shares of NYSE:GPI traded up $6.23 during trading on Wednesday, reaching $170.46. The stock had a trading volume of 193,321 shares, compared to its average volume of 176,458. Group 1 Automotive has a 52 week low of $82.35 and a 52 week high of $181.95. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 5.84, a P/E/G ratio of 0.59 and a beta of 1.96. The company has a quick ratio of 0.52, a current ratio of 1.33 and a debt-to-equity ratio of 0.75. The stock has a fifty day simple moving average of $165.71 and a two-hundred day simple moving average of $162.12.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $1.36 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.33. Group 1 Automotive’s payout ratio is 7.53%.

In other Group 1 Automotive news, Director Max P. Watson sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 22nd. The shares were sold at an average price of $150.56, for a total value of $752,800.00. Following the sale, the director now owns 48,516 shares of the company’s stock, valued at approximately $7,304,568.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.10% of the company’s stock.

Several large investors have recently modified their holdings of GPI. Factorial Partners LLC boosted its stake in shares of Group 1 Automotive by 10,022.4% in the 1st quarter. Factorial Partners LLC now owns 1,072,972 shares of the company’s stock valued at $6,800,000 after purchasing an additional 1,062,372 shares in the last quarter. Macquarie Group Ltd. lifted its position in Group 1 Automotive by 93,848.6% during the 2nd quarter. Macquarie Group Ltd. now owns 456,590 shares of the company’s stock worth $70,511,000 after buying an additional 456,104 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Group 1 Automotive by 201.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 345,182 shares of the company’s stock worth $54,466,000 after buying an additional 230,535 shares in the last quarter. Lakewood Capital Management LP acquired a new position in Group 1 Automotive during the 1st quarter worth about $36,361,000. Finally, BlackRock Inc. lifted its position in Group 1 Automotive by 7.4% during the 1st quarter. BlackRock Inc. now owns 2,930,683 shares of the company’s stock worth $462,432,000 after buying an additional 201,397 shares in the last quarter. Institutional investors own 96.92% of the company’s stock.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc engages in the automotive retailing industry. The firm operates through the following geographical segments: U.S, the UK, and Brazil. It also sells new and used cars and light trucks, arranges related vehicle financing, sells service contracts, provides automotive maintenance and repair services, and sells vehicle parts.

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