Genuine Parts (GPC) Set to Announce Quarterly Earnings on Tuesday

Genuine Parts (NYSE:GPC) is set to release its earnings data before the market opens on Tuesday, October 22nd. Analysts expect Genuine Parts to post earnings of $2.45 per share for the quarter. Genuine Parts has set its FY24 guidance at $9.30-9.50 EPS and its FY 2024 guidance at 9.300-9.500 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 earnings per share. On average, analysts expect Genuine Parts to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Genuine Parts Stock Down 0.3 %

Shares of GPC opened at $143.17 on Friday. The company’s 50-day simple moving average is $138.97 and its 200-day simple moving average is $143.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The stock has a market capitalization of $19.94 billion, a PE ratio of 15.96 and a beta of 0.90.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Analyst Ratings Changes

A number of analysts have recently weighed in on GPC shares. Wedbush cut their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on Genuine Parts from $157.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI decreased their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, UBS Group reduced their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.29.

Genuine Parts Company Profile

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.