Q1 2024 Earnings Forecast for Group 1 Automotive, Inc. Issued By Seaport Res Ptn (NYSE:GPI)

Group 1 Automotive, Inc. (NYSE:GPI) – Analysts at Seaport Res Ptn reduced their Q1 2024 EPS estimates for Group 1 Automotive in a research report issued to clients and investors on Friday, April 19th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings per share of $9.40 for the quarter, down from their prior forecast of $9.49. The consensus estimate for Group 1 Automotive’s current full-year earnings is $39.45 per share. Seaport Res Ptn also issued estimates for Group 1 Automotive’s Q2 2024 earnings at $10.55 EPS, Q3 2024 earnings at $10.32 EPS, Q4 2024 earnings at $9.58 EPS and FY2025 earnings at $39.17 EPS.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $9.50 EPS for the quarter, missing analysts’ consensus estimates of $10.44 by ($0.94). Group 1 Automotive had a net margin of 3.34% and a return on equity of 24.36%. The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the previous year, the business earned $10.86 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis.

Several other research analysts have also recently issued reports on the stock. Morgan Stanley upgraded shares of Group 1 Automotive from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $200.00 to $255.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. cut their target price on shares of Group 1 Automotive from $325.00 to $315.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. Guggenheim upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 target price on the stock in a report on Wednesday, April 17th. StockNews.com cut shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Finally, Stephens reaffirmed an “overweight” rating and issued a $330.00 price target on shares of Group 1 Automotive in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Group 1 Automotive has a consensus rating of “Moderate Buy” and a consensus price target of $331.67.

Group 1 Automotive Stock Up 4.1 %

Shares of Group 1 Automotive stock opened at $279.54 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 1.11. Group 1 Automotive has a 52-week low of $214.25 and a 52-week high of $310.08. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 6.56, a P/E/G ratio of 1.34 and a beta of 1.42. The company’s 50 day moving average price is $271.75 and its 200-day moving average price is $274.03.

Group 1 Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.47 dividend. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 29th. This represents a $1.88 dividend on an annualized basis and a yield of 0.67%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 4.41%.

Institutional Trading of Group 1 Automotive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in Group 1 Automotive by 2.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $574,000 after acquiring an additional 43 shares during the period. Sequoia Financial Advisors LLC lifted its position in Group 1 Automotive by 4.6% during the third quarter. Sequoia Financial Advisors LLC now owns 1,021 shares of the company’s stock valued at $274,000 after buying an additional 45 shares during the period. Parkside Financial Bank & Trust lifted its position in Group 1 Automotive by 44.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 176 shares of the company’s stock valued at $54,000 after buying an additional 54 shares during the period. EverSource Wealth Advisors LLC lifted its position in Group 1 Automotive by 37.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the company’s stock valued at $65,000 after buying an additional 58 shares during the period. Finally, Sawgrass Asset Management LLC lifted its position in Group 1 Automotive by 4.9% during the third quarter. Sawgrass Asset Management LLC now owns 1,479 shares of the company’s stock valued at $397,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 99.92% of the company’s stock.

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.