Genuine Parts Company (NYSE:GPC) Expected to Announce Quarterly Sales of $4.08 Billion
Analysts expect Genuine Parts Company (NYSE:GPC) to post sales of $4.08 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Genuine Parts’ earnings. The lowest sales estimate is $4.06 billion and the highest is $4.10 billion. Genuine Parts reported sales of $3.94 billion during the same quarter last year, which would suggest a positive year over year growth rate of 3.6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Genuine Parts will report full year sales of $4.08 billion for the current year, with estimates ranging from $15.90 billion to $16.02 billion. For the next financial year, analysts forecast that the firm will report sales of $16.46 billion per share, with estimates ranging from $16.30 billion to $16.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Genuine Parts.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by $0.02. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue was up 5.1% on a year-over-year basis.
GPC has been the subject of several analyst reports. Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Friday, July 21st. BidaskClub downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. Royal Bank Of Canada raised their price objective on shares of Genuine Parts from $94.00 to $96.00 and gave the stock a “sector perform” rating in a report on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $104.00 price objective (up from $98.00) on shares of Genuine Parts in a report on Saturday, April 22nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $96.86.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinnacle Bank purchased a new position in shares of Genuine Parts during the first quarter valued at approximately $115,000. Global X Management Co. LLC increased its position in shares of Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 373 shares during the last quarter. Tompkins Financial Corp increased its position in shares of Genuine Parts by 146.7% in the first quarter. Tompkins Financial Corp now owns 1,875 shares of the specialty retailer’s stock valued at $186,000 after buying an additional 1,115 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Genuine Parts by 151.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock valued at $177,000 after buying an additional 1,147 shares during the last quarter. Finally, Washington Trust Bank increased its position in shares of Genuine Parts by 334.3% in the first quarter. Washington Trust Bank now owns 1,963 shares of the specialty retailer’s stock valued at $181,000 after buying an additional 1,511 shares during the last quarter. 73.28% of the stock is owned by hedge funds and other institutional investors.
Shares of Genuine Parts (NYSE:GPC) traded down 1.2904% during midday trading on Thursday, hitting $82.4028. The stock had a trading volume of 190,135 shares. The stock’s 50-day moving average price is $85.98 and its 200 day moving average price is $91.83. Genuine Parts has a 52 week low of $80.86 and a 52 week high of $105.18. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 17.8400 and a beta of 1.04.
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Genuine Parts Company Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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