Q3 2024 EPS Estimates for Genuine Parts Decreased by Analyst (NYSE:GPC)

Genuine Parts (NYSE:GPC) – Research analysts at Wedbush cut their Q3 2024 EPS estimates for Genuine Parts in a research note issued on Wednesday, July 24th. Wedbush analyst S. Basham now anticipates that the specialty retailer will post earnings of $2.47 per share for the quarter, down from their previous forecast of $2.54. Wedbush has a “Neutral” rating and a $145.00 price objective on the stock. The consensus estimate for Genuine Parts’ current full-year earnings is $9.37 per share. Wedbush also issued estimates for Genuine Parts’ Q4 2024 earnings at $2.25 EPS, FY2024 earnings at $9.39 EPS, Q2 2025 earnings at $2.60 EPS, Q3 2025 earnings at $2.68 EPS, Q4 2025 earnings at $2.45 EPS, FY2025 earnings at $10.07 EPS and FY2026 earnings at $10.81 EPS.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period in the previous year, the firm posted $2.44 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year.

A number of other brokerages have also recently commented on GPC. UBS Group cut their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial dropped their price objective on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Evercore ISI dropped their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $141.97 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The stock has a market cap of $19.78 billion, a price-to-earnings ratio of 15.83 and a beta of 0.92. The company’s fifty day moving average is $140.29 and its 200 day moving average is $146.34.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s payout ratio is 44.59%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Genuine Parts

Several institutional investors and hedge funds have recently bought and sold shares of the company. OmniStar Financial Group Inc. grew its holdings in Genuine Parts by 7.5% in the 2nd quarter. OmniStar Financial Group Inc. now owns 9,428 shares of the specialty retailer’s stock worth $1,304,000 after acquiring an additional 654 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in Genuine Parts by 92.2% in the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock worth $50,000 after buying an additional 178 shares during the last quarter. Lester Murray Antman dba SimplyRich purchased a new position in shares of Genuine Parts during the second quarter valued at approximately $321,000. Conning Inc. raised its holdings in shares of Genuine Parts by 3.3% during the second quarter. Conning Inc. now owns 241,508 shares of the specialty retailer’s stock valued at $33,352,000 after purchasing an additional 7,726 shares during the last quarter. Finally, Pullen Investment Management LLC grew its position in Genuine Parts by 8.9% during the second quarter. Pullen Investment Management LLC now owns 2,274 shares of the specialty retailer’s stock valued at $315,000 after buying an additional 185 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.