Brokerages Expect Genuine Parts (GPC) Will Post Quarterly Sales of $4.73 Billion

Brokerages expect Genuine Parts (NYSE:GPC) to announce $4.73 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Genuine Parts’ earnings. The lowest sales estimate is $4.70 billion and the highest is $4.77 billion. Genuine Parts reported sales of $4.10 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 15.4%. The firm is scheduled to announce its next earnings results on Thursday, October 18th.

According to Zacks, analysts expect that Genuine Parts will report full-year sales of $18.65 billion for the current financial year, with estimates ranging from $18.58 billion to $18.77 billion. For the next fiscal year, analysts forecast that the business will post sales of $19.22 billion per share, with estimates ranging from $19.02 billion to $19.47 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Genuine Parts.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, July 19th. The specialty retailer reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.01. Genuine Parts had a net margin of 3.78% and a return on equity of 21.62%. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same quarter last year, the business earned $1.29 EPS. The company’s revenue was up 17.6% compared to the same quarter last year.

GPC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Monday, June 11th. Royal Bank of Canada raised their price objective on shares of Genuine Parts to $99.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 12th. Finally, Wedbush raised their price objective on shares of Genuine Parts from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, July 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $101.50.

Genuine Parts stock traded up $0.33 during mid-day trading on Tuesday, hitting $101.84. 10,419 shares of the stock were exchanged, compared to its average volume of 486,320. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.71 and a current ratio of 1.33. Genuine Parts has a 12 month low of $84.71 and a 12 month high of $107.75. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 2.69 and a beta of 1.18.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.83%. The ex-dividend date is Thursday, September 6th. Genuine Parts’s payout ratio is currently 62.07%.

In related news, insider James R. Neill sold 512 shares of Genuine Parts stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $97.94, for a total value of $50,145.28. Following the completion of the sale, the insider now owns 5,661 shares of the company’s stock, valued at approximately $554,438.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in shares of Genuine Parts by 7.8% during the 1st quarter. Victory Capital Management Inc. now owns 120,188 shares of the specialty retailer’s stock worth $10,798,000 after purchasing an additional 8,725 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Genuine Parts by 29.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 24,032 shares of the specialty retailer’s stock worth $2,159,000 after purchasing an additional 5,456 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Genuine Parts during the 1st quarter worth $1,158,000. Neuberger Berman Group LLC raised its stake in shares of Genuine Parts by 7.1% during the 1st quarter. Neuberger Berman Group LLC now owns 14,779 shares of the specialty retailer’s stock worth $1,328,000 after purchasing an additional 981 shares during the period. Finally, Korea Investment CORP raised its stake in shares of Genuine Parts by 20.8% during the 1st quarter. Korea Investment CORP now owns 26,442 shares of the specialty retailer’s stock worth $2,376,000 after purchasing an additional 4,561 shares during the period. 76.58% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.

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

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