Group 1 Automotive, Inc. (GPI) Expected to Post Quarterly Sales of $2.62 Billion

Analysts expect Group 1 Automotive, Inc. (NYSE:GPI) to announce $2.62 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Group 1 Automotive’s earnings, with the highest sales estimate coming in at $2.65 billion and the lowest estimate coming in at $2.60 billion. Group 1 Automotive reported sales of $2.52 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4%. The firm is expected to report its next quarterly earnings report on Friday, April 27th.

According to Zacks, analysts expect that Group 1 Automotive will report full-year sales of $2.62 billion for the current financial year, with estimates ranging from $11.35 billion to $11.45 billion. For the next financial year, analysts expect that the firm will report sales of $11.49 billion per share, with estimates ranging from $11.02 billion to $11.88 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Group 1 Automotive.

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Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, February 8th. The company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.85 billion. Group 1 Automotive had a net margin of 1.89% and a return on equity of 15.85%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 EPS.

Several research firms have recently weighed in on GPI. Morgan Stanley boosted their target price on shares of Group 1 Automotive from $53.00 to $62.00 and gave the stock an “underweight” rating in a research report on Wednesday. Buckingham Research raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Friday, January 5th. Bank of America boosted their target price on shares of Group 1 Automotive from $103.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Zacks Investment Research raised shares of Group 1 Automotive from a “hold” rating to a “strong-buy” rating and set a $92.00 target price for the company in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.00.

Group 1 Automotive (GPI) traded up $0.68 on Friday, hitting $72.85. 317,797 shares of the stock traded hands, compared to its average volume of 233,210. The company has a market cap of $1,548.50, a P/E ratio of 7.13, a P/E/G ratio of 1.12 and a beta of 1.75. Group 1 Automotive has a one year low of $51.62 and a one year high of $84.47. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.06 and a quick ratio of 0.26.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were issued a $0.26 dividend. The ex-dividend date was Wednesday, February 28th. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.43%. Group 1 Automotive’s payout ratio is 10.28%.

In other news, CEO Earl J. Hesterberg sold 28,519 shares of Group 1 Automotive stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $80.06, for a total value of $2,283,231.14. Following the completion of the transaction, the chief executive officer now directly owns 108,440 shares of the company’s stock, valued at approximately $8,681,706.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Earl J. Hesterberg sold 10,640 shares of Group 1 Automotive stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $74.44, for a total transaction of $792,041.60. Following the completion of the transaction, the chief executive officer now directly owns 165,010 shares of the company’s stock, valued at $12,283,344.40. The disclosure for this sale can be found here. Insiders sold a total of 152,398 shares of company stock valued at $11,763,108 over the last ninety days. Company insiders own 6.08% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of GPI. First Trust Advisors LP boosted its holdings in shares of Group 1 Automotive by 42.9% in the 3rd quarter. First Trust Advisors LP now owns 32,158 shares of the company’s stock valued at $2,330,000 after buying an additional 9,647 shares during the period. Aperio Group LLC boosted its stake in Group 1 Automotive by 35.5% during the 3rd quarter. Aperio Group LLC now owns 7,389 shares of the company’s stock valued at $535,000 after purchasing an additional 1,935 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Group 1 Automotive during the 3rd quarter valued at about $540,000. Chicago Equity Partners LLC boosted its stake in Group 1 Automotive by 8.5% during the 3rd quarter. Chicago Equity Partners LLC now owns 8,340 shares of the company’s stock valued at $604,000 after purchasing an additional 650 shares during the period. Finally, IndexIQ Advisors LLC boosted its stake in Group 1 Automotive by 83.6% during the 3rd quarter. IndexIQ Advisors LLC now owns 11,702 shares of the company’s stock valued at $848,000 after purchasing an additional 5,329 shares during the period. 97.57% of the stock is owned by institutional investors and hedge funds.

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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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