Analysts forecast that Group 1 Automotive, Inc. (NYSE:GPI) will announce $2.00 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Group 1 Automotive’s earnings, with estimates ranging from $1.90 to $2.11. Group 1 Automotive reported earnings of $2.16 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 7.4%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that Group 1 Automotive will report full year earnings of $7.29 per share for the current year, with EPS estimates ranging from $7.15 to $7.48. For the next fiscal year, analysts anticipate that the company will report earnings of $7.70 per share, with EPS estimates ranging from $7.00 to $8.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Group 1 Automotive.
Group 1 Automotive (NYSE:GPI) last issued its earnings results on Friday, April 28th. The company reported $1.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.71 by $0.18. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.60 billion. Group 1 Automotive had a return on equity of 17.16% and a net margin of 1.32%. Group 1 Automotive’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 earnings per share.
A number of research firms recently commented on GPI. Zacks Investment Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 12th. BidaskClub raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, ValuEngine lowered Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $69.33.
Shares of Group 1 Automotive (NYSE GPI) traded up 0.86% during trading on Friday, reaching $63.42. 29,388 shares of the company were exchanged. Group 1 Automotive has a one year low of $54.70 and a one year high of $83.18. The company has a market capitalization of $1.31 billion, a PE ratio of 9.33 and a beta of 1.64. The firm’s 50 day moving average price is $61.48 and its 200 day moving average price is $71.94.
Group 1 Automotive announced that its board has approved a share repurchase plan on Friday, May 12th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
A number of large investors have recently added to or reduced their stakes in GPI. Acrospire Investment Management LLC raised its stake in shares of Group 1 Automotive by 1,300.0% in the first quarter. Acrospire Investment Management LLC now owns 1,400 shares of the company’s stock valued at $104,000 after buying an additional 1,300 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Group 1 Automotive during the first quarter valued at about $113,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Group 1 Automotive during the first quarter valued at about $133,000. Russell Investments Group Ltd. acquired a new stake in shares of Group 1 Automotive during the fourth quarter valued at about $145,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Group 1 Automotive by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 2,200 shares of the company’s stock valued at $162,000 after buying an additional 50 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.
About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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