Genuine Parts (NYSE:GPC) Posts Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Genuine Parts (NYSE:GPC) released its quarterly earnings results on Thursday. The specialty retailer reported $1.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.20, MarketWatch Earnings reports. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.34 billion. Genuine Parts had a return on equity of 27.80% and a net margin of 0.31%. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. Genuine Parts updated its FY21 guidance to $6.20-6.35 EPS and its FY 2021 guidance to $6.200-$6.350 EPS.

Shares of GPC stock traded down $2.80 during mid-day trading on Thursday, reaching $126.37. The stock had a trading volume of 29,351 shares, compared to its average volume of 509,278. The business has a fifty day moving average of $128.47. The company has a current ratio of 1.21, a quick ratio of 0.64 and a debt-to-equity ratio of 0.74. The company has a market cap of $18.26 billion, a price-to-earnings ratio of 371.72, a price-to-earnings-growth ratio of 2.96 and a beta of 1.11. Genuine Parts has a 1-year low of $87.04 and a 1-year high of $135.93.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 1st. Stockholders of record on Friday, June 4th were issued a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Thursday, June 3rd. Genuine Parts’s dividend payout ratio is presently 61.86%.

Several research analysts recently issued reports on GPC shares. TheStreet raised Genuine Parts from a “c+” rating to a “b” rating in a research report on Monday, April 26th. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Tuesday, April 20th. Royal Bank of Canada upped their target price on Genuine Parts from $115.00 to $129.00 and gave the company a “sector perform” rating in a research report on Friday, April 23rd. JPMorgan Chase & Co. upped their target price on Genuine Parts from $115.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. Finally, Evercore ISI reaffirmed a “hold” rating on shares of Genuine Parts in a research report on Sunday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $127.50.

In other news, insider Kevin Herron sold 2,500 shares of the company’s stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $132.31, for a total value of $330,775.00. Following the sale, the insider now owns 13,754 shares in the company, valued at $1,819,791.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.

About Genuine Parts

Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group and Industrial Parts Group. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.

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Earnings History for Genuine Parts (NYSE:GPC)

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