Seaport Res Ptn Analysts Reduce Earnings Estimates for Group 1 Automotive, Inc. (NYSE:GPI)

Group 1 Automotive, Inc. (NYSE:GPI) – Equities research analysts at Seaport Res Ptn decreased their Q1 2024 earnings per share (EPS) estimates for Group 1 Automotive in a note issued to investors on Friday, April 19th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $9.40 per share for the quarter, down from their previous forecast of $9.49. The consensus estimate for Group 1 Automotive’s current full-year earnings is $39.45 per share. Seaport Res Ptn also issued estimates for Group 1 Automotive’s Q2 2024 earnings at $10.55 EPS, Q3 2024 earnings at $10.32 EPS, Q4 2024 earnings at $9.58 EPS and FY2025 earnings at $39.17 EPS.

GPI has been the topic of several other research reports. Guggenheim raised Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price objective on the stock in a research note on Wednesday, April 17th. Stephens restated an “overweight” rating and set a $330.00 target price on shares of Group 1 Automotive in a research note on Tuesday, February 13th. Morgan Stanley raised shares of Group 1 Automotive from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $200.00 to $255.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. reduced their price objective on shares of Group 1 Automotive from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th. Finally, StockNews.com downgraded shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Group 1 Automotive presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.67.

Group 1 Automotive Price Performance

NYSE GPI opened at $268.65 on Monday. The business’s fifty day moving average is $271.75 and its 200 day moving average is $274.03. Group 1 Automotive has a fifty-two week low of $214.25 and a fifty-two week high of $310.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 1.11. The company has a market capitalization of $3.63 billion, a PE ratio of 6.30, a price-to-earnings-growth ratio of 1.34 and a beta of 1.42.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Wednesday, January 31st. The company reported $9.50 EPS for the quarter, missing the consensus estimate of $10.44 by ($0.94). Group 1 Automotive had a net margin of 3.34% and a return on equity of 24.36%. The business had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.41 billion. During the same period in the previous year, the company earned $10.86 EPS. Group 1 Automotive’s revenue for the quarter was up 10.6% compared to the same quarter last year.

Group 1 Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.70%. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, February 29th. Group 1 Automotive’s dividend payout ratio is presently 4.41%.

Institutional Investors Weigh In On Group 1 Automotive

Institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC increased its stake in Group 1 Automotive by 47.5% in the 3rd quarter. Hsbc Holdings PLC now owns 15,051 shares of the company’s stock worth $4,082,000 after acquiring an additional 4,844 shares during the last quarter. Burney Co. increased its position in Group 1 Automotive by 11.0% in the third quarter. Burney Co. now owns 70,085 shares of the company’s stock worth $18,832,000 after purchasing an additional 6,946 shares during the last quarter. Covalis Capital LLP purchased a new stake in Group 1 Automotive during the third quarter valued at $16,330,000. Boston Partners bought a new position in Group 1 Automotive during the third quarter valued at $12,703,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Group 1 Automotive in the 3rd quarter worth $2,770,000. Institutional investors own 99.92% of the company’s stock.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. 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.