Wedbush Weighs in on Genuine Parts’ FY2018 Earnings (GPC)

Genuine Parts (NYSE:GPC) – Research analysts at Wedbush lifted their FY2018 earnings per share (EPS) estimates for shares of Genuine Parts in a research report issued to clients and investors on Thursday. Wedbush analyst S. Basham now anticipates that the specialty retailer will post earnings per share of $6.26 for the year, up from their prior estimate of $5.32.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the business posted $1.24 EPS. The firm’s quarterly revenue was down 72.2% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the stock. Gabelli reaffirmed a “buy” rating on shares of Genuine Parts in a report on Friday, October 20th. Jefferies Group reaffirmed a “hold” rating and issued a $95.00 price objective on shares of Genuine Parts in a report on Thursday, October 12th. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Royal Bank of Canada decreased their price objective on shares of Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, October 20th. Finally, Moffett Nathanson initiated coverage on shares of Genuine Parts in a report on Monday, December 4th. They issued a “sell” rating for the company. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Genuine Parts presently has an average rating of “Hold” and a consensus price target of $95.00.

Genuine Parts (NYSE GPC) traded down $0.48 during mid-day trading on Monday, hitting $102.80. 1,070,000 shares of the stock were exchanged, compared to its average volume of 809,493. The firm has a market capitalization of $15,070.00, a P/E ratio of 23.05, a P/E/G ratio of 2.52 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.62. Genuine Parts has a twelve month low of $79.86 and a twelve month high of $104.88.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Thursday, December 7th. Genuine Parts’s dividend payout ratio is presently 60.54%.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Genuine Parts by 1.4% in the second quarter. Vanguard Group Inc. now owns 15,648,183 shares of the specialty retailer’s stock worth $1,451,526,000 after purchasing an additional 218,851 shares during the period. State Street Corp lifted its stake in Genuine Parts by 0.7% in the second quarter. State Street Corp now owns 8,733,760 shares of the specialty retailer’s stock valued at $810,144,000 after buying an additional 61,398 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Genuine Parts by 0.4% in the third quarter. JPMorgan Chase & Co. now owns 7,180,911 shares of the specialty retailer’s stock valued at $683,552,000 after buying an additional 30,007 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Genuine Parts by 44.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,758,715 shares of the specialty retailer’s stock valued at $361,034,000 after buying an additional 1,160,200 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Genuine Parts by 43.7% in the third quarter. Wells Fargo & Company MN now owns 3,027,033 shares of the specialty retailer’s stock valued at $289,536,000 after buying an additional 921,258 shares during the last quarter. 75.84% of the stock is owned by hedge funds and other institutional investors.

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Genuine Parts Company Profile

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.

Earnings History and Estimates for Genuine Parts (NYSE:GPC)

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