FY2024 EPS Estimate for Group 1 Automotive Lifted by Analyst

Group 1 Automotive, Inc. (NYSE:GPI) – Analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Group 1 Automotive in a report released on Wednesday, November 13th. Zacks Research analyst L. Shahu now forecasts that the company will post earnings per share of $38.50 for the year, up from their prior forecast of $38.27. The consensus estimate for Group 1 Automotive’s current full-year earnings is $38.60 per share. Zacks Research also issued estimates for Group 1 Automotive’s Q4 2024 earnings at $9.31 EPS, Q1 2025 earnings at $9.61 EPS, Q2 2025 earnings at $10.25 EPS, Q4 2025 earnings at $9.90 EPS and FY2026 earnings at $41.99 EPS.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company posted $12.07 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis.

Other research analysts have also issued research reports about the stock. Bank of America cut their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. 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 objective on the stock. Finally, Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $397.80.

Group 1 Automotive Stock Performance

NYSE GPI opened at $414.81 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. Group 1 Automotive has a 1-year low of $255.73 and a 1-year high of $422.28. The firm has a market capitalization of $5.53 billion, a P/E ratio of 11.05, a P/E/G ratio of 2.15 and a beta of 1.33. The business’s 50-day simple moving average is $371.84 and its 200-day simple moving average is $338.39.

Group 1 Automotive announced that its board has initiated a stock buyback plan on Tuesday, November 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 9.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Group 1 Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 dividend on an annualized basis and a yield of 0.45%. Group 1 Automotive’s payout ratio is currently 5.01%.

Insider Activity

In other news, VP Edward Mckissic sold 79 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the transaction, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of Group 1 Automotive by 244.7% in the 3rd quarter. Barclays PLC now owns 56,319 shares of the company’s stock valued at $21,573,000 after purchasing an additional 39,982 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Group 1 Automotive by 20.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 264 shares of the company’s stock valued at $101,000 after buying an additional 44 shares during the last quarter. MML Investors Services LLC raised its stake in Group 1 Automotive by 7.4% during the third quarter. MML Investors Services LLC now owns 6,328 shares of the company’s stock valued at $2,424,000 after buying an additional 437 shares in the last quarter. Hodges Capital Management Inc. lifted its holdings in Group 1 Automotive by 1.3% during the 3rd quarter. Hodges Capital Management Inc. now owns 21,960 shares of the company’s stock worth $8,412,000 after buying an additional 289 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of Group 1 Automotive by 23.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,975 shares of the company’s stock valued at $1,906,000 after acquiring an additional 937 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors.

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.