Genuine Parts (NYSE:GPC) Releases FY 2022 Earnings Guidance

Genuine Parts (NYSE:GPCGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.700-$7.850 for the period, compared to the Thomson Reuters consensus estimate of $7.590. The company issued revenue guidance of $20.76 billion-$21.14 billion, compared to the consensus revenue estimate of $20.80 billion.

NYSE:GPC opened at $137.67 on Thursday. The firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.57 and a beta of 1.10. Genuine Parts has a 52-week low of $115.63 and a 52-week high of $142.97. The stock has a fifty day moving average of $126.85 and a 200 day moving average of $131.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.18.

Genuine Parts (NYSE:GPCGet Rating) last posted its quarterly earnings data on Thursday, February 17th. The specialty retailer reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.18. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.66 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 4.76%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $1.52 earnings per share. Equities analysts forecast that Genuine Parts will post 7.62 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 4th were paid a dividend of $0.895 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.82. The ex-dividend date was Thursday, March 3rd. This represents a $3.58 annualized dividend and a yield of 2.60%. Genuine Parts’s dividend payout ratio (DPR) is currently 57.37%.

Several equities research analysts recently issued reports on GPC shares. Wedbush reissued a neutral rating on shares of Genuine Parts in a research note on Friday, February 18th. StockNews.com started coverage on Genuine Parts in a research note on Thursday, March 31st. They set a strong-buy rating for the company. Truist Financial started coverage on Genuine Parts in a research note on Thursday, January 13th. They set a hold rating and a $142.00 price target for the company. Finally, Zacks Investment Research lowered Genuine Parts from a buy rating to a hold rating and set a $141.00 price target for the company. in a research note on Wednesday, December 22nd. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $136.86.

Several hedge funds have recently bought and sold shares of the business. Vident Investment Advisory LLC grew its holdings in shares of Genuine Parts by 9.9% during the 4th quarter. Vident Investment Advisory LLC now owns 16,379 shares of the specialty retailer’s stock worth $2,297,000 after acquiring an additional 1,474 shares during the period. Forum Financial Management LP purchased a new position in shares of Genuine Parts during the 4th quarter worth approximately $335,000. NewEdge Advisors LLC grew its holdings in shares of Genuine Parts by 53.5% during the 4th quarter. NewEdge Advisors LLC now owns 14,523 shares of the specialty retailer’s stock worth $2,036,000 after acquiring an additional 5,062 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Genuine Parts by 438.4% during the 4th quarter. Allianz Asset Management GmbH now owns 38,737 shares of the specialty retailer’s stock worth $5,431,000 after acquiring an additional 31,542 shares during the period. Finally, Toroso Investments LLC grew its holdings in shares of Genuine Parts by 415.2% during the 4th quarter. Toroso Investments LLC now owns 14,926 shares of the specialty retailer’s stock worth $2,093,000 after acquiring an additional 12,029 shares during the period. Hedge funds and other institutional investors own 75.23% of the company’s stock.

About Genuine Parts (Get Rating)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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

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