Q2 2024 EPS Estimates for Genuine Parts (NYSE:GPC) Lifted by Zacks Research

Genuine Parts (NYSE:GPC) – Stock analysts at Zacks Research raised their Q2 2024 EPS estimates for shares of Genuine Parts in a report issued on Thursday, May 2nd. Zacks Research analyst R. Department now forecasts that the specialty retailer will earn $2.59 per share for the quarter, up from their previous estimate of $2.57. The consensus estimate for Genuine Parts’ current full-year earnings is $9.94 per share. Zacks Research also issued estimates for Genuine Parts’ Q3 2024 earnings at $2.67 EPS, Q1 2025 earnings at $2.42 EPS, Q3 2025 earnings at $2.77 EPS and Q1 2026 earnings at $2.58 EPS.

Several other research analysts have also commented on GPC. Truist Financial increased their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group increased their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Wedbush restated a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, Evercore ISI dropped their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $173.10.

Genuine Parts Stock Down 1.2 %

GPC stock opened at $154.88 on Monday. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The company has a market cap of $21.57 billion, a price-to-earnings ratio of 17.27 and a beta of 0.94. The company has a 50 day moving average of $153.64 and a two-hundred day moving average of $143.61.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. The company’s revenue was up .3% compared to the same quarter last year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s payout ratio is 44.59%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Genuine Parts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPC. Manchester Capital Management LLC increased its holdings in shares of Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares during the period. North Star Investment Management Corp. grew its position in shares of Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after acquiring an additional 70 shares during the period. CHICAGO TRUST Co NA increased its stake in shares of Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after purchasing an additional 71 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in shares of Genuine Parts by 5.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after purchasing an additional 74 shares in the last quarter. Finally, Financial Counselors Inc. increased its stake in shares of Genuine Parts by 0.3% in the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.