Genuine Parts (NYSE:GPC) Releases Quarterly Earnings Results

Genuine Parts (NYSE:GPC) issued its quarterly earnings results on Tuesday. The specialty retailer reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.03, Zacks reports. Genuine Parts had a return on equity of 22.59% and a net margin of 0.13%.

Genuine Parts Trading Down 2.9%

NYSE GPC opened at $130.07 on Tuesday. The stock’s 50-day simple moving average is $132.11 and its two-hundred day simple moving average is $118.68. Genuine Parts has a twelve month low of $90.78 and a twelve month high of $151.57. The company has a quick ratio of 0.50, a current ratio of 1.16 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 520.27, a PEG ratio of 2.48 and a beta of 0.67.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 4th were given a dividend of $1.0625 per share. The ex-dividend date was Friday, September 4th. This represents a $4.25 dividend on an annualized basis and a yield of 3.3%. Genuine Parts’s dividend payout ratio (DPR) is presently 1,700.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GPC. Truist Financial boosted their price objective on Genuine Parts from $124.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, September 21st. JPMorgan Chase & Co. lifted their target price on shares of Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Evercore reiterated an “outperform” rating on shares of Genuine Parts in a research report on Wednesday, July 22nd. Finally, DA Davidson boosted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Moderate Buy” and an average price target of $146.00.

About Genuine Parts

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.