Seaport Res Ptn Issues Negative Estimate for GPI Earnings

Group 1 Automotive, Inc. (NYSE:GPI) – Seaport Res Ptn decreased their Q4 2024 earnings per share estimates for Group 1 Automotive in a report released on Thursday, November 21st. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings of $9.22 per share for the quarter, down from their prior forecast of $9.25. The consensus estimate for Group 1 Automotive’s current full-year earnings is $38.37 per share.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the prior year, the company earned $12.07 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price target on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Stephens assumed coverage on Group 1 Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 target price for the company. Guggenheim boosted their price target on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $425.20.

Group 1 Automotive Stock Performance

NYSE:GPI opened at $432.45 on Monday. The firm’s 50-day moving average is $378.88 and its 200-day moving average is $343.82. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 11.51 and a beta of 1.33. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00. Group 1 Automotive has a 52-week low of $255.73 and a 52-week high of $440.32.

Group 1 Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio (DPR) is currently 5.01%.

Group 1 Automotive declared that its Board of Directors has approved a share buyback plan on Tuesday, November 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares in the company, valued at $2,340,928.59. This represents a 1.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Group 1 Automotive

Institutional investors and hedge funds have recently bought and sold shares of the business. Dynamic Advisor Solutions LLC bought a new position in shares of Group 1 Automotive in the second quarter valued at about $452,000. The Manufacturers Life Insurance Company raised its stake in shares of Group 1 Automotive by 22.0% in the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after acquiring an additional 115,143 shares during the last quarter. Raymond James & Associates lifted its position in shares of Group 1 Automotive by 8.3% during the second quarter. Raymond James & Associates now owns 40,541 shares of the company’s stock worth $12,052,000 after purchasing an additional 3,095 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Group 1 Automotive during the third quarter valued at approximately $3,286,000. Finally, Susquehanna Fundamental Investments LLC increased its holdings in shares of Group 1 Automotive by 327.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 15,459 shares of the company’s stock valued at $4,596,000 after purchasing an additional 11,839 shares in the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.