Q1 2024 EPS Estimates for Group 1 Automotive, Inc. Decreased by Seaport Res Ptn (NYSE:GPI)

Group 1 Automotive, Inc. (NYSE:GPI) – Equities researchers at Seaport Res Ptn reduced their Q1 2024 earnings per share estimates for shares of Group 1 Automotive in a research note issued on Friday, April 19th. Seaport Res Ptn analyst G. Chin now expects that the company will earn $9.40 per share 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.

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

Group 1 Automotive Stock Up 1.2 %

Shares of GPI opened at $268.65 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $3.63 billion, a PE ratio of 6.30, a P/E/G ratio of 1.34 and a beta of 1.42. The firm’s 50 day moving average is $271.75 and its 200-day moving average is $274.03. Group 1 Automotive has a 12 month low of $214.25 and a 12 month high of $310.08.

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

Hedge Funds Weigh In On Group 1 Automotive

A number of hedge funds have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in Group 1 Automotive during the fourth quarter worth $27,000. Parkside Financial Bank & Trust boosted its holdings in shares of Group 1 Automotive by 159.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 122 shares of the company’s stock worth $33,000 after buying an additional 75 shares during the last quarter. Gladius Capital Management LP bought a new position in Group 1 Automotive during the third quarter valued at about $37,000. Planned Solutions Inc. bought a new stake in Group 1 Automotive in the fourth quarter worth about $50,000. Finally, Anchor Investment Management LLC purchased a new position in Group 1 Automotive in the fourth quarter valued at about $53,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Group 1 Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 0.70%. Group 1 Automotive’s dividend payout ratio is 4.41%.

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.