Wedbush Weighs in on Genuine Parts’ Q2 2022 Earnings (NYSE:GPC)

Genuine Parts (NYSE:GPCGet Rating) – Research analysts at Wedbush decreased their Q2 2022 EPS estimates for Genuine Parts in a research report issued on Friday, April 22nd. Wedbush analyst S. Basham now expects that the specialty retailer will earn $1.92 per share for the quarter, down from their previous estimate of $1.93. Wedbush has a “Neutral” rating on the stock. Wedbush also issued estimates for Genuine Parts’ Q3 2022 earnings at $2.05 EPS, Q4 2022 earnings at $1.93 EPS, FY2022 earnings at $7.76 EPS, FY2023 earnings at $8.42 EPS and FY2024 earnings at $9.08 EPS.

Several other brokerages also recently commented on GPC. Truist Financial assumed coverage on shares of Genuine Parts in a research note on Thursday, January 13th. They issued a “hold” rating and a $142.00 target price on the stock. StockNews.com assumed coverage on shares of Genuine Parts in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and a consensus price target of $138.17.

Shares of NYSE GPC opened at $133.64 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.16 and a debt-to-equity ratio of 0.94. Genuine Parts has a 52 week low of $115.63 and a 52 week high of $142.97. The firm’s fifty day moving average is $127.21 and its 200 day moving average is $131.23. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.62 and a beta of 1.10.

Genuine Parts (NYSE:GPCGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The specialty retailer reported $1.86 EPS for the quarter, topping 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 firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period last year, the firm posted $1.50 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year.

The business also recently disclosed 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 is an increase from Genuine Parts’s previous quarterly dividend of $0.82. This represents a $3.58 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Thursday, March 3rd. Genuine Parts’s payout ratio is presently 55.42%.

Hedge funds have recently made changes to their positions in the company. Salem Investment Counselors Inc. boosted its holdings in shares of Genuine Parts by 144.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 186 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 110 shares in the last quarter. Country Trust Bank boosted its holdings in shares of Genuine Parts by 376.2% during the 4th quarter. Country Trust Bank now owns 200 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 158 shares in the last quarter. JNBA Financial Advisors boosted its holdings in shares of Genuine Parts by 103.8% during the 4th quarter. JNBA Financial Advisors now owns 214 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 109 shares in the last quarter. FSB Premier Wealth Management Inc. bought a new stake in shares of Genuine Parts during the 4th quarter valued at $31,000. Finally, Missouri Trust & Investment Co bought a new stake in shares of Genuine Parts during the 4th quarter valued at $32,000. 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.

Further Reading

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

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