Genuine Parts (NYSE:GPC) Releases FY 2021 Earnings Guidance

Genuine Parts (NYSE:GPC) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.200-$6.350 for the period, compared to the Thomson Reuters consensus estimate of $6.060. The company issued revenue guidance of $18.19 billion-$18.52 billion, compared to the consensus revenue estimate of $17.66 billion.Genuine Parts also updated its FY21 guidance to $6.20-6.35 EPS.

GPC traded down $2.83 during midday trading on Thursday, reaching $126.34. The company had a trading volume of 28,042 shares, compared to its average volume of 509,278. 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’s 50-day moving average price is $128.47. The firm has a market capitalization of $18.25 billion, a P/E ratio of 371.72, a P/E/G 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.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, July 22nd. The specialty retailer reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.20. 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 quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 earnings per share. Research analysts forecast that Genuine Parts will post 6.08 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 1st. Stockholders of record on Friday, June 4th were paid 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 (DPR) is 61.86%.

A number of equities analysts have recently weighed in on GPC shares. JPMorgan Chase & Co. upped their price objective on Genuine Parts from $115.00 to $140.00 and gave the stock an overweight rating in a research note on Monday, April 26th. Zacks Investment Research raised Genuine Parts from a hold rating to a buy rating and set a $125.00 price objective for the company in a research note on Tuesday, April 20th. Argus increased their price target on Genuine Parts from $109.00 to $140.00 and gave the company a buy rating in a research note on Wednesday, April 28th. TheStreet raised Genuine Parts from a c+ rating to a b rating in a research note on Monday, April 26th. Finally, Royal Bank of Canada increased their price target on Genuine Parts from $115.00 to $129.00 and gave the company a sector perform rating in a research note on Friday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Genuine Parts has an average rating of Hold and an average price target of $127.50.

In other news, insider Kevin Herron sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 21st. The stock was sold at an average price of $132.31, for a total value of $330,775.00. Following the completion of the sale, the insider now directly owns 13,754 shares of the company’s stock, valued at approximately $1,819,791.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by company insiders.

Genuine Parts Company Profile

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 and Estimates for Genuine Parts (NYSE:GPC)

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