Genuine Parts (GPC) to Release Quarterly Earnings on Thursday

Genuine Parts (NYSE:GPC) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $2.16 per share for the quarter. Genuine Parts has set its FY24 guidance at $9.70 to $9.90 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The company had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the firm earned $2.05 EPS. Genuine Parts’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts expect Genuine Parts to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $144.80 on Tuesday. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The stock’s fifty day moving average is $149.47 and its 200 day moving average is $142.08. The stock has a market cap of $20.19 billion, a P/E ratio of 15.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.76%. Genuine Parts’s dividend payout ratio (DPR) is currently 42.87%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by company insiders.

Institutional Trading of Genuine Parts

Several institutional investors have recently added to or reduced their stakes in GPC. Imprint Wealth LLC raised its stake in Genuine Parts by 16,507.5% in the second quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock worth $261,119,000 after buying an additional 2,595,471 shares in the last quarter. Norges Bank purchased a new position in Genuine Parts in the fourth quarter worth $239,384,000. Capital World Investors purchased a new position in Genuine Parts in the first quarter worth $124,130,000. Renaissance Technologies LLC grew its holdings in shares of Genuine Parts by 239.0% during the first quarter. Renaissance Technologies LLC now owns 774,700 shares of the specialty retailer’s stock valued at $129,615,000 after buying an additional 546,200 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Genuine Parts by 2.9% during the first quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock valued at $2,153,442,000 after buying an additional 481,039 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Truist Financial reissued a “buy” rating and set a $167.00 price target on shares of Genuine Parts in a report on Friday. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Wedbush restated a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a research report on Friday, February 16th. Finally, Evercore ISI raised their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $168.89.

Genuine Parts Company Profile

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.