Genuine Parts to Post Q2 2024 Earnings of $2.59 Per Share, Zacks Research Forecasts (NYSE:GPC)

Genuine Parts (NYSE:GPC) – Stock analysts at Zacks Research increased their Q2 2024 earnings per share (EPS) estimates for shares of Genuine Parts in a research report issued to clients and investors on Thursday, May 2nd. Zacks Research analyst R. Department now forecasts that the specialty retailer will earn $2.59 per share for the quarter, up from their previous forecast of $2.57. The consensus estimate for Genuine Parts’ current full-year earnings is $9.94 per share. Zacks Research also issued estimates for Genuine Parts’ Q3 2024 earnings at $2.67 EPS, Q1 2025 earnings at $2.42 EPS, Q3 2025 earnings at $2.77 EPS and Q1 2026 earnings at $2.58 EPS.

GPC has been the subject of a number of other research reports. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Jefferies Financial Group upped their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Truist Financial upped their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Evercore ISI lowered their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Finally, Wedbush reaffirmed a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $173.10.

Genuine Parts Trading Down 0.5 %

Shares of GPC stock opened at $156.69 on Monday. The business has a 50-day moving average of $153.56 and a 200 day moving average of $143.43. The stock has a market capitalization of $21.83 billion, a PE ratio of 17.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. Genuine Parts’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.14 EPS.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Trust Co. boosted its holdings in Genuine Parts by 27.7% in the third quarter. Cambridge Trust Co. now owns 9,693 shares of the specialty retailer’s stock worth $1,399,000 after purchasing an additional 2,104 shares during the last quarter. Community Bank N.A. bought a new stake in shares of Genuine Parts in the third quarter worth $433,000. Simmons Bank increased its position in Genuine Parts by 8.1% during the third quarter. Simmons Bank now owns 16,051 shares of the specialty retailer’s stock valued at $2,317,000 after acquiring an additional 1,208 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new position in Genuine Parts in the third quarter valued at about $474,000. Finally, Gradient Investments LLC increased its position in shares of Genuine Parts by 381.1% during the 3rd quarter. Gradient Investments LLC now owns 587 shares of the specialty retailer’s stock valued at $85,000 after purchasing an additional 465 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.