Genuine Parts (NYSE:GPC) Expected to Announce Quarterly Sales of $5.04 Billion

Wall Street analysts forecast that Genuine Parts (NYSE:GPC) will announce sales of $5.04 billion for the current quarter, Zacks reports. Three analysts have provided estimates for Genuine Parts’ earnings. The highest sales estimate is $5.07 billion and the lowest is $4.98 billion. Genuine Parts posted sales of $4.72 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6.8%. The firm is expected to announce its next quarterly earnings report on Thursday, October 17th.

According to Zacks, analysts expect that Genuine Parts will report full year sales of $19.64 billion for the current financial year, with estimates ranging from $19.59 billion to $19.67 billion. For the next financial year, analysts expect that the business will post sales of $20.58 billion, with estimates ranging from $20.18 billion to $20.78 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Genuine Parts.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $5 billion. Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 EPS.

A number of analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Genuine Parts from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday. Goldman Sachs Group assumed coverage on shares of Genuine Parts in a research note on Thursday, July 11th. They issued a “neutral” rating and a $107.00 price target for the company. Stephens assumed coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They issued an “overweight” rating and a $114.00 price target for the company. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 price target for the company in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group set a $102.00 price target on shares of Genuine Parts and gave the stock a “hold” rating in a research note on Friday, July 19th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $105.75.

A number of institutional investors have recently added to or reduced their stakes in GPC. Comerica Securities Inc. acquired a new position in Genuine Parts in the fourth quarter worth $256,000. Dimensional Fund Advisors LP boosted its holdings in shares of Genuine Parts by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 904,189 shares of the specialty retailer’s stock valued at $86,820,000 after acquiring an additional 22,731 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Genuine Parts by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 1,965,765 shares of the specialty retailer’s stock valued at $188,434,000 after acquiring an additional 163,768 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Genuine Parts by 56.4% during the first quarter. Parallel Advisors LLC now owns 882 shares of the specialty retailer’s stock valued at $99,000 after acquiring an additional 318 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Genuine Parts by 325.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 88,107 shares of the specialty retailer’s stock valued at $9,869,000 after acquiring an additional 67,387 shares during the period. 76.86% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:GPC traded up $1.16 during midday trading on Tuesday, reaching $98.68. The company had a trading volume of 470,650 shares, compared to its average volume of 664,039. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68. The stock’s fifty day moving average price is $92.19 and its 200-day moving average price is $101.50. The stock has a market capitalization of $14.20 billion, a P/E ratio of 17.37, a PEG ratio of 3.41 and a beta of 0.93. Genuine Parts has a one year low of $87.26 and a one year high of $115.20.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a $0.7625 dividend. This represents a $3.05 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Thursday, September 5th. Genuine Parts’s dividend payout ratio is presently 53.70%.

About Genuine Parts

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Earnings History and Estimates for Genuine Parts (NYSE:GPC)

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