Genuine Parts (NYSE:GPC) Updates 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 guidance of $6.200-$6.350 for the period, compared to the Thomson Reuters consensus earnings per share 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.

Genuine Parts stock traded down $2.83 during mid-day 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. Genuine Parts has a 52 week low of $87.04 and a 52 week high of $135.93. The stock’s 50 day simple moving average is $128.47. The stock has a market cap of $18.25 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 (NYSE:GPC) last announced its earnings results on Thursday, July 22nd. The specialty retailer reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.20. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Genuine Parts had a net margin of 0.31% and a return on equity of 27.80%. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter last year, the company posted $1.32 EPS. On average, equities research analysts predict that Genuine Parts will post 6.08 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 1st. Shareholders of record on Friday, June 4th were issued a dividend of $0.815 per share. The ex-dividend date of this dividend was Thursday, June 3rd. This represents a $3.26 annualized dividend and a yield of 2.58%. Genuine Parts’s dividend payout ratio (DPR) is currently 61.86%.

A number of research analysts recently commented on the company. Evercore ISI reaffirmed a hold rating on shares of Genuine Parts in a research note on Sunday, April 25th. 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 report on Friday, April 23rd. Zacks Investment Research upgraded Genuine Parts from a hold rating to a buy rating and set a $125.00 price target on the stock in a report on Tuesday, April 20th. TheStreet upgraded Genuine Parts from a c+ rating to a b rating in a report on Monday, April 26th. Finally, Argus increased their price target on Genuine Parts from $109.00 to $140.00 and gave the company a buy rating in a research report on Wednesday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $127.50.

In related news, insider Kevin Herron sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $132.31, for a total transaction of $330,775.00. Following the transaction, the insider now directly owns 13,754 shares of the company’s stock, valued at approximately $1,819,791.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

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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