Genuine Parts Co. (NYSE:GPC) issued an update on its FY16 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 4.55-4.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.72. The company issued revenue guidance of ~$15.28-15.43 billion, compared to the consensus revenue estimate of $15.46 billion.
Genuine Parts Co. (NYSE:GPC) opened at 96.35 on Wednesday. Genuine Parts Co. has a 12-month low of $76.50 and a 12-month high of $105.97. The stock’s 50 day moving average price is $99.24 and its 200-day moving average price is $99.10. The stock has a market capitalization of $14.35 billion, a PE ratio of 20.81 and a beta of 0.92.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.29 by $0.05. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. The business earned $3.94 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Analysts expect that Genuine Parts Co. will post $4.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were paid a $0.6575 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.73%. Genuine Parts’s dividend payout ratio (DPR) is presently 56.68%.
GPC has been the topic of a number of analyst reports. Argus restated a buy rating and issued a $108.00 price target (up from $106.00) on shares of Genuine Parts in a research note on Monday, July 25th. Jefferies Group downgraded Genuine Parts from a buy rating to a hold rating and set a $112.00 price target on the stock. in a research note on Friday, July 15th. Wedbush restated a neutral rating and issued a $98.00 price target on shares of Genuine Parts in a research note on Wednesday, July 20th. Zacks Investment Research downgraded Genuine Parts from a buy rating to a hold rating in a research note on Friday, July 22nd. Finally, Gabelli downgraded Genuine Parts from a buy rating to a hold rating and set a $106.00 price target on the stock. in a research note on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $99.18.
Several institutional investors have recently added to or reduced their stakes in GPC. Invictus RG bought a new position in Genuine Parts during the second quarter worth $136,000. Van ECK Associates Corp boosted its position in Genuine Parts by 30.3% in the second quarter. Van ECK Associates Corp now owns 1,467 shares of the company’s stock worth $149,000 after buying an additional 341 shares during the period. Franklin Resources Inc. bought a new position in Genuine Parts during the second quarter worth $205,000. Pacer Advisors Inc. boosted its position in Genuine Parts by 9.1% in the second quarter. Pacer Advisors Inc. now owns 2,797 shares of the company’s stock worth $283,000 after buying an additional 233 shares during the period. Finally, Bank of Nova Scotia boosted its position in Genuine Parts by 6.0% in the second quarter. Bank of Nova Scotia now owns 2,991 shares of the company’s stock worth $303,000 after buying an additional 170 shares during the period. 71.55% of the stock is owned by institutional investors.
About Genuine Parts
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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