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

Genuine Parts (NYSE:GPC) – Investment analysts at Zacks Research lifted their Q2 2024 earnings estimates for shares of Genuine Parts in a research note issued to investors on Thursday, May 2nd. Zacks Research analyst R. Department now anticipates that the specialty retailer will earn $2.59 per share for the quarter, up from their prior 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.

Several other equities analysts have also recently weighed in on the company. Evercore ISI decreased their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Truist Financial raised their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group raised their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Wedbush reiterated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Price Performance

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

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The firm 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%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.14 EPS.

Hedge Funds Weigh In On Genuine Parts

Hedge funds have recently modified their holdings of the business. WD Rutherford LLC acquired a new position in shares of Genuine Parts during the first quarter worth $26,000. OFI Invest Asset Management acquired a new position in Genuine Parts in the third quarter valued at $25,000. Assetmark Inc. boosted its position in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in Genuine Parts during the 3rd quarter worth about $28,000. Finally, Briaud Financial Planning Inc bought a new position in shares of Genuine Parts in the 3rd quarter worth about $28,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by insiders.

Genuine Parts Announces Dividend

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

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.