Group 1 Automotive (NYSE:GPI) Releases Earnings Results, Misses Estimates By $0.03 EPS

Group 1 Automotive (NYSE:GPI) announced its earnings results on Wednesday. The company reported $9.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.93 by ($0.03), Briefing.com reports. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the firm earned $12.07 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis.

Group 1 Automotive Stock Performance

NYSE GPI traded down $13.59 during midday trading on Thursday, hitting $364.32. The company had a trading volume of 195,270 shares, compared to its average volume of 134,724. Group 1 Automotive has a fifty-two week low of $246.02 and a fifty-two week high of $393.93. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 1.76 and a beta of 1.32. The firm has a fifty day simple moving average of $365.22 and a two-hundred day simple moving average of $329.12. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80.

Group 1 Automotive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, August 30th. Group 1 Automotive’s payout ratio is currently 4.44%.

Insider Activity at Group 1 Automotive

In related news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the completion of the transaction, the vice president now directly owns 9,742 shares in the company, valued at approximately $3,419,344.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on GPI shares. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Bank of America reduced their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Stephens initiated coverage on Group 1 Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 target price for the company. JPMorgan Chase & Co. increased their price objective on Group 1 Automotive from $360.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $396.80.

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.