Brokers Set Expectations for Group 1 Automotive, Inc.’s Q1 2018 Earnings (GPI)
Group 1 Automotive, Inc. (NYSE:GPI) – Analysts at Seaport Global Securities reduced their Q1 2018 EPS estimates for shares of Group 1 Automotive in a research report issued to clients and investors on Thursday. Seaport Global Securities analyst M. Ward now forecasts that the company will post earnings of $1.55 per share for the quarter, down from their previous forecast of $1.62. Seaport Global Securities also issued estimates for Group 1 Automotive’s Q2 2018 earnings at $1.99 EPS and Q3 2018 earnings at $2.16 EPS.
GPI has been the topic of several other reports. KeyCorp reaffirmed a “hold” rating on shares of Group 1 Automotive in a report on Wednesday, October 4th. ValuEngine downgraded shares of Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research downgraded shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. BidaskClub downgraded shares of Group 1 Automotive from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $66.00 price target (down from $75.00) on shares of Group 1 Automotive in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Group 1 Automotive has an average rating of “Hold” and an average target price of $77.60.
Group 1 Automotive (NYSE GPI) traded down $1.83 during trading on Monday, hitting $79.26. The stock had a trading volume of 71,105 shares, compared to its average volume of 330,842. The stock has a market cap of $1,650.00, a PE ratio of 10.90, a P/E/G ratio of 1.58 and a beta of 1.69. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.27 and a current ratio of 1.05. Group 1 Automotive has a 12 month low of $51.62 and a 12 month high of $83.18.
Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, October 26th. The company reported $2.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.47. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Group 1 Automotive had a return on equity of 15.69% and a net margin of 1.20%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 EPS.
A number of large investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan raised its position in Group 1 Automotive by 24.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 14,030 shares of the company’s stock worth $1,017,000 after acquiring an additional 2,800 shares during the period. Towle & Co. raised its position in Group 1 Automotive by 3.6% during the third quarter. Towle & Co. now owns 339,749 shares of the company’s stock worth $24,618,000 after acquiring an additional 11,777 shares during the period. BNP Paribas Arbitrage SA raised its position in Group 1 Automotive by 59.0% during the third quarter. BNP Paribas Arbitrage SA now owns 10,775 shares of the company’s stock worth $781,000 after acquiring an additional 3,997 shares during the period. Jennison Associates LLC acquired a new position in Group 1 Automotive during the third quarter worth $2,096,000. Finally, Investment Counselors of Maryland LLC raised its position in Group 1 Automotive by 7.1% during the third quarter. Investment Counselors of Maryland LLC now owns 271,852 shares of the company’s stock worth $19,698,000 after acquiring an additional 18,080 shares during the period. Institutional investors own 97.67% of the company’s stock.
In related news, VP Darryl M. Burman sold 10,000 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $79.74, for a total transaction of $797,400.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Peter C. Delongchamps sold 9,110 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $80.16, for a total transaction of $730,257.60. The disclosure for this sale can be found here. Insiders have sold 65,810 shares of company stock worth $5,117,414 over the last three months. 6.08% of the stock is currently owned by insiders.
About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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