Q3 EPS Estimate for Group 1 Automotive Lowered by Analyst

Group 1 Automotive, Inc. (NYSE:GPI) – Research analysts at Seaport Res Ptn lowered their Q3 2024 earnings per share estimates for shares of Group 1 Automotive in a research note issued to investors on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings per share of $9.82 for the quarter, down from their previous estimate of $10.39. The consensus estimate for Group 1 Automotive’s current full-year earnings is $39.39 per share. Seaport Res Ptn also issued estimates for Group 1 Automotive’s Q4 2024 earnings at $9.25 EPS, FY2024 earnings at $38.36 EPS and FY2025 earnings at $39.41 EPS.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, July 24th. The company reported $9.80 earnings per share for the quarter, topping analysts’ consensus estimates of $9.36 by $0.44. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. The company had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter last year, the firm earned $11.73 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis.

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

Group 1 Automotive Price Performance

NYSE:GPI opened at $348.78 on Wednesday. Group 1 Automotive has a 52 week low of $228.84 and a 52 week high of $393.93. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 1.02. The firm’s 50-day simple moving average is $365.01 and its 200 day simple moving average is $326.25. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 1.78 and a beta of 1.32.

Group 1 Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 0.54%. Group 1 Automotive’s dividend payout ratio is currently 4.44%.

Insider Activity at Group 1 Automotive

In other news, VP Michael David Jones sold 1,200 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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 owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hennessy Advisors Inc. grew its position in Group 1 Automotive by 14.0% during the 1st quarter. Hennessy Advisors Inc. now owns 91,900 shares of the company’s stock worth $26,856,000 after acquiring an additional 11,300 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Group 1 Automotive in the first quarter valued at approximately $887,000. BNP Paribas Financial Markets raised its holdings in Group 1 Automotive by 15.2% in the 1st quarter. BNP Paribas Financial Markets now owns 22,236 shares of the company’s stock valued at $6,498,000 after buying an additional 2,927 shares during the last quarter. PAX Financial Group LLC acquired a new stake in Group 1 Automotive during the 1st quarter worth approximately $650,000. Finally, SG Americas Securities LLC bought a new stake in Group 1 Automotive during the 1st quarter worth approximately $1,305,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Company Profile

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.