Group 1 Automotive, Inc. (NYSE:GPI) announced a quarterly dividend on Tuesday, February 18th, Zacks reports. Stockholders of record on Monday, March 2nd will be given a dividend of 0.30 per share on Monday, March 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.29.
Group 1 Automotive has raised its dividend by an average of 7.4% per year over the last three years and has increased its dividend every year for the last 10 years. Group 1 Automotive has a dividend payout ratio of 10.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Group 1 Automotive to earn $13.44 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 8.9%.
GPI opened at $93.65 on Thursday. The firm’s 50-day simple moving average is $100.55 and its 200-day simple moving average is $94.73. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.25 and a current ratio of 1.04. Group 1 Automotive has a twelve month low of $59.77 and a twelve month high of $110.11. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.48 and a beta of 1.71.
In other Group 1 Automotive news, Director Lincoln Pereira sold 30,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $103.63, for a total transaction of $3,108,900.00. Also, CEO Earl J. Hesterberg sold 5,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $106.71, for a total transaction of $533,550.00. Following the sale, the chief executive officer now directly owns 145,575 shares in the company, valued at approximately $15,534,308.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $5,156,850. Insiders own 6.00% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Group 1 Automotive from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Benchmark assumed coverage on shares of Group 1 Automotive in a report on Thursday, January 9th. They issued a “buy” rating and a $127.00 target price on the stock. Stephens upped their target price on shares of Group 1 Automotive from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. ValuEngine lowered shares of Group 1 Automotive from a “sell” rating to a “strong sell” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Group 1 Automotive from $107.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $110.71.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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