Q2 2022 EPS Estimates for Genuine Parts Lifted by Jefferies Financial Group (NYSE:GPC)

Genuine Parts (NYSE:GPC – Get Rating) – Analysts at Jefferies Financial Group increased their Q2 2022 earnings estimates for Genuine Parts in a report issued on Thursday, April 21st. Jefferies Financial Group analyst B. Jordan now expects that the specialty retailer will post earnings of $1.90 per share for the quarter, up from their previous forecast of $1.88. Jefferies Financial Group also issued estimates for Genuine Parts’ Q4 2022 earnings at $1.98 EPS, FY2022 earnings at $7.86 EPS, Q1 2023 earnings at $1.87 EPS, Q2 2023 earnings at $2.04 EPS, Q3 2023 earnings at $2.20 EPS, Q4 2023 earnings at $2.09 EPS and FY2023 earnings at $8.21 EPS.

GPC has been the subject of several other research reports. Wedbush restated a “neutral” rating on shares of Genuine Parts in a report on Friday, February 18th. StockNews.com began coverage on shares of Genuine Parts in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, Truist Financial began coverage on shares of Genuine Parts in a research note on Thursday, January 13th. They set a “hold” rating and a $142.00 price objective for the company. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $138.17.

NYSE:GPC opened at $133.64 on Monday. Genuine Parts has a one year low of $115.63 and a one year high of $142.97. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.59 and a current ratio of 1.16. The firm has a market cap of $18.97 billion, a P/E ratio of 20.69, a P/E/G ratio of 1.62 and a beta of 1.10. The firm has a 50-day simple moving average of $127.21 and a 200-day simple moving average of $131.23.

Genuine Parts (NYSE:GPC – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The specialty retailer reported $1.86 EPS for the quarter, beating the consensus estimate of $1.68 by $0.18. Genuine Parts had a net margin of 4.71% and a return on equity of 30.84%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in GPC. Salem Investment Counselors Inc. boosted its holdings in shares of Genuine Parts by 144.7% in the 4th quarter. Salem Investment Counselors Inc. now owns 186 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. Country Trust Bank boosted its holdings in shares of Genuine Parts by 376.2% in the 4th quarter. Country Trust Bank now owns 200 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 158 shares during the last quarter. JNBA Financial Advisors boosted its holdings in shares of Genuine Parts by 103.8% in the 4th quarter. JNBA Financial Advisors now owns 214 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 109 shares during the last quarter. FSB Premier Wealth Management Inc. purchased a new stake in shares of Genuine Parts in the 4th quarter valued at $31,000. Finally, Missouri Trust & Investment Co purchased a new stake in shares of Genuine Parts in the 4th quarter valued at $32,000. 75.23% of the stock is currently owned by institutional investors.

The business also recently announced a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, March 4th were given a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Thursday, March 3rd. This is an increase from Genuine Parts’s previous quarterly dividend of $0.82. Genuine Parts’s payout ratio is currently 55.42%.

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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