Group 1 Automotive, Inc. (NYSE:GPI) Announces Quarterly Dividend of $0.37

Group 1 Automotive, Inc. (NYSE:GPIGet Rating) announced a quarterly dividend on Wednesday, May 18th, Zacks reports. Stockholders of record on Wednesday, June 1st will be paid a dividend of 0.37 per share on Wednesday, June 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, May 31st. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.36.

Group 1 Automotive has increased its dividend by an average of 8.5% annually over the last three years and has increased its dividend every year for the last 3 years. Group 1 Automotive has a payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Group 1 Automotive to earn $35.82 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 4.0%.

GPI stock opened at $179.61 on Friday. Group 1 Automotive has a 12 month low of $143.00 and a 12 month high of $212.23. The firm’s 50-day moving average is $176.98 and its 200 day moving average is $184.27. The company has a market capitalization of $2.98 billion, a PE ratio of 4.93, a P/E/G ratio of 0.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.02 and a quick ratio of 0.34.

Group 1 Automotive (NYSE:GPIGet Rating) last issued its earnings results on Wednesday, April 27th. The company reported $10.81 EPS for the quarter, topping analysts’ consensus estimates of $9.45 by $1.36. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.77 billion. Group 1 Automotive had a net margin of 4.45% and a return on equity of 38.47%. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.57 EPS. Sell-side analysts forecast that Group 1 Automotive will post 40.43 EPS for the current fiscal year.

In other news, SVP Frank Grese sold 910 shares of Group 1 Automotive stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $185.86, for a total value of $169,132.60. Following the transaction, the senior vice president now owns 21,714 shares of the company’s stock, valued at approximately $4,035,764.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael David Jones sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $180.20, for a total transaction of $720,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,582 shares of company stock valued at $2,344,963. Corporate insiders own 3.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC acquired a new stake in shares of Group 1 Automotive during the fourth quarter worth $27,000. Cetera Investment Advisers purchased a new stake in Group 1 Automotive during the 1st quarter valued at about $202,000. Guggenheim Capital LLC increased its holdings in shares of Group 1 Automotive by 51.7% in the first quarter. Guggenheim Capital LLC now owns 1,873 shares of the company’s stock valued at $314,000 after purchasing an additional 638 shares during the period. Titleist Asset Management LTD. purchased a new position in shares of Group 1 Automotive in the fourth quarter worth about $335,000. Finally, Mackenzie Financial Corp raised its stake in shares of Group 1 Automotive by 7.9% in the fourth quarter. Mackenzie Financial Corp now owns 1,716 shares of the company’s stock worth $335,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 99.57% of the company’s stock.

Several equities research analysts have weighed in on GPI shares. JPMorgan Chase & Co. cut Group 1 Automotive from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $240.00 to $200.00 in a report on Thursday, April 7th. StockNews.com initiated coverage on shares of Group 1 Automotive in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Morgan Stanley cut their target price on shares of Group 1 Automotive from $200.00 to $187.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $234.75.

About Group 1 Automotive (Get Rating)

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It operates primarily in 17 states in the United States; and 35 towns in the United Kingdom.

See Also

Dividend History for Group 1 Automotive (NYSE:GPI)

Receive News & Ratings for Group 1 Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Group 1 Automotive and related companies with MarketBeat.com's FREE daily email newsletter.