Group 1 Automotive, Inc. to Post Q2 2023 Earnings of $8.26 Per Share, Zacks Research Forecasts (NYSE:GPI)

Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) – Investment analysts at Zacks Research cut their Q2 2023 earnings per share estimates for Group 1 Automotive in a research note issued on Wednesday, March 15th. Zacks Research analyst R. Singhi now expects that the company will earn $8.26 per share for the quarter, down from their prior estimate of $8.29. The consensus estimate for Group 1 Automotive’s current full-year earnings is $36.77 per share. Zacks Research also issued estimates for Group 1 Automotive’s Q3 2023 earnings at $7.98 EPS, FY2023 earnings at $30.63 EPS, Q1 2024 earnings at $7.26 EPS, Q2 2024 earnings at $8.58 EPS and Q3 2024 earnings at $6.11 EPS.

GPI has been the topic of a number of other reports. StockNews.com cut Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Wednesday. Stephens raised their target price on Group 1 Automotive from $275.00 to $290.00 in a research report on Thursday, January 26th. JPMorgan Chase & Co. raised their target price on Group 1 Automotive from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 21st. Finally, Morgan Stanley dropped their target price on Group 1 Automotive from $142.00 to $134.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 17th.

Group 1 Automotive Price Performance

GPI opened at $201.04 on Friday. Group 1 Automotive has a 12-month low of $136.16 and a 12-month high of $242.68. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 4.28, a price-to-earnings-growth ratio of 1.77 and a beta of 1.48. The stock has a fifty day simple moving average of $214.77 and a two-hundred day simple moving average of $187.33. The company has a current ratio of 1.03, a quick ratio of 0.33 and a debt-to-equity ratio of 0.87.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GPI. OLD Mission Capital LLC purchased a new stake in Group 1 Automotive during the 4th quarter valued at about $27,000. New Hampshire Trust purchased a new position in Group 1 Automotive in the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC raised its holdings in Group 1 Automotive by 81.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock worth $35,000 after purchasing an additional 109 shares during the period. Federated Hermes Inc. increased its position in shares of Group 1 Automotive by 54.6% in the third quarter. Federated Hermes Inc. now owns 252 shares of the company’s stock valued at $36,000 after buying an additional 89 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Group 1 Automotive by 181.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 262 shares of the company’s stock worth $37,000 after buying an additional 169 shares during the period. 97.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Group 1 Automotive

In other Group 1 Automotive news, VP Darryl M. Burman sold 2,500 shares of Group 1 Automotive stock in a transaction on Friday, January 27th. The stock was sold at an average price of $205.50, for a total transaction of $513,750.00. Following the completion of the sale, the vice president now directly owns 19,945 shares of the company’s stock, valued at approximately $4,098,697.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Darryl M. Burman sold 2,500 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $205.50, for a total value of $513,750.00. Following the completion of the transaction, the vice president now directly owns 19,945 shares of the company’s stock, valued at approximately $4,098,697.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael David Jones sold 1,500 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $229.67, for a total value of $344,505.00. Following the completion of the transaction, the vice president now directly owns 13,355 shares of the company’s stock, valued at $3,067,242.85. The disclosure for this sale can be found here. Insiders sold a total of 33,600 shares of company stock worth $7,091,904 in the last quarter. 3.80% of the stock is owned by company insiders.

Group 1 Automotive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, February 28th. This represents a $1.80 dividend on an annualized basis and a yield of 0.90%. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.39. Group 1 Automotive’s payout ratio is presently 3.83%.

About Group 1 Automotive

(Get Rating)

Group 1 Automotive, Inc engages in the automotive retailing industry. The firm operates through the following geographical segments: U.S, the UK, and Brazil. It also sells new and used cars and light trucks, arranges related vehicle financing, sells service contracts, provides automotive maintenance and repair services, and sells vehicle parts.