Seaport Res Ptn Issues Negative Forecast for GPI Earnings

Group 1 Automotive, Inc. (NYSE:GPI) – Seaport Res Ptn dropped their Q4 2024 earnings per share (EPS) estimates for shares of Group 1 Automotive in a note issued to investors on Thursday, November 21st. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings per share of $9.22 for the quarter, down from their prior forecast of $9.25. The consensus estimate for Group 1 Automotive’s current full-year earnings is $38.37 per share.

Several other equities analysts also recently weighed in on GPI. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. Guggenheim increased their target price on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Stephens began coverage on shares of Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Group 1 Automotive currently has an average rating of “Moderate Buy” and an average price target of $425.20.

Group 1 Automotive Trading Up 3.0 %

Shares of Group 1 Automotive stock opened at $433.74 on Monday. Group 1 Automotive has a twelve month low of $255.73 and a twelve month high of $440.32. The firm’s 50-day moving average price is $377.50 and its 200 day moving average price is $342.90. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $5.78 billion, a PE ratio of 11.54 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping analysts’ consensus estimates of $9.87 by $0.03. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $12.07 earnings per share.

Institutional Investors Weigh In On Group 1 Automotive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPI. Assetmark Inc. grew its holdings in shares of Group 1 Automotive by 51.9% during the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after purchasing an additional 28 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Group 1 Automotive in the third quarter valued at about $36,000. Avior Wealth Management LLC purchased a new position in Group 1 Automotive during the third quarter worth about $46,000. Hexagon Capital Partners LLC increased its position in shares of Group 1 Automotive by 53.7% during the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after acquiring an additional 51 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Group 1 Automotive in the 2nd quarter valued at approximately $48,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Insider Buying and Selling

In related news, VP Edward Mckissic sold 79 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the transaction, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by company insiders.

Group 1 Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio is currently 5.01%.

Group 1 Automotive announced that its Board of Directors has initiated a share buyback program on Tuesday, November 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 9.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.