Q2 2022 Earnings Forecast for Group 1 Automotive, Inc. (NYSE:GPI) Issued By Seaport Res Ptn

Group 1 Automotive, Inc. (NYSE:GPIGet Rating) – Seaport Res Ptn lowered their Q2 2022 EPS estimates for Group 1 Automotive in a note issued to investors on Thursday, April 28th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings per share of $10.87 for the quarter, down from their prior forecast of $10.94. Seaport Res Ptn also issued estimates for Group 1 Automotive’s Q3 2022 earnings at $10.83 EPS.

Several other brokerages also recently weighed in on GPI. JPMorgan Chase & Co. downgraded shares of Group 1 Automotive from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $240.00 to $200.00 in a research note on Thursday, April 7th. Morgan Stanley lowered their price objective on Group 1 Automotive from $200.00 to $187.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 8th. Finally, StockNews.com started coverage on Group 1 Automotive in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Group 1 Automotive has an average rating of “Hold” and a consensus target price of $230.60.

Shares of Group 1 Automotive stock opened at $177.94 on Friday. The company has a quick ratio of 0.38, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The company has a market cap of $2.97 billion, a P/E ratio of 5.92, a PEG ratio of 0.42 and a beta of 1.66. The firm’s 50 day moving average price is $178.05 and its 200-day moving average price is $184.91. Group 1 Automotive has a 52-week low of $143.00 and a 52-week high of $212.23.

Group 1 Automotive (NYSE:GPIGet Rating) last posted its earnings results on Wednesday, April 27th. The company reported $10.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.43 by $1.49. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. Group 1 Automotive had a return on equity of 35.83% and a net margin of 3.98%. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.57 earnings per share.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, February 28th. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.81%. Group 1 Automotive’s payout ratio is 4.79%.

In other news, SVP Frank Grese sold 4,378 shares of the company’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $183.97, for a total value of $805,420.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Earl J. Hesterberg sold 3,294 shares of the stock in a transaction on Monday, March 21st. The stock was sold at an average price of $197.21, for a total transaction of $649,609.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,672 shares of company stock worth $2,175,830. 5.20% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Capital Asset Advisory Services LLC increased its holdings in shares of Group 1 Automotive by 10.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 2,539 shares of the company’s stock valued at $426,000 after purchasing an additional 237 shares in the last quarter. Foster & Motley Inc. purchased a new position in Group 1 Automotive in the first quarter valued at $1,353,000. Exchange Traded Concepts LLC raised its position in shares of Group 1 Automotive by 4.8% in the first quarter. Exchange Traded Concepts LLC now owns 4,551 shares of the company’s stock worth $764,000 after acquiring an additional 210 shares during the period. Convergence Investment Partners LLC purchased a new stake in shares of Group 1 Automotive during the 1st quarter worth about $307,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Group 1 Automotive by 49.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 52,764 shares of the company’s stock valued at $8,855,000 after purchasing an additional 17,514 shares in the last quarter. 96.94% of the stock is owned by institutional investors and hedge funds.

About Group 1 Automotive (Get Rating)

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. 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. It operates primarily in 17 states in the United States; and 35 towns in the United Kingdom.

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