Genuine Parts to Post Q4 2022 Earnings of $1.93 Per Share, Jefferies Financial Group Forecasts (NYSE:GPC)

Genuine Parts (NYSE:GPCGet Rating) – Equities researchers at Jefferies Financial Group cut their Q4 2022 earnings per share (EPS) estimates for Genuine Parts in a report issued on Wednesday, July 27th. Jefferies Financial Group analyst B. Jordan now forecasts that the specialty retailer will post earnings of $1.93 per share for the quarter, down from their prior forecast of $1.98. The consensus estimate for Genuine Parts’ current full-year earnings is $7.84 per share. Jefferies Financial Group also issued estimates for Genuine Parts’ Q3 2023 earnings at $2.18 EPS.

Several other research analysts have also recently issued reports on GPC. Evercore ISI lowered their price objective on Genuine Parts to $135.00 in a research report on Thursday, June 9th. Bank of America raised Genuine Parts from an “underperform” rating to a “neutral” rating and set a $133.00 target price for the company in a research note on Tuesday, May 10th. They noted that the move was a valuation call. Finally, Wedbush raised their price objective on Genuine Parts from $140.00 to $150.00 in a research note on Thursday. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $140.20.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $152.87 on Monday. The stock’s 50-day moving average is $136.89 and its two-hundred day moving average is $132.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.16 and a quick ratio of 0.58. Genuine Parts has a 1-year low of $115.63 and a 1-year high of $153.65. The company has a market cap of $21.65 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 3.31 and a beta of 0.95.

Genuine Parts (NYSE:GPCGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. Genuine Parts had a return on equity of 30.84% and a net margin of 4.71%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the company posted $1.74 earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year.

Hedge Funds Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently bought and sold shares of GPC. Simmons Bank raised its holdings in Genuine Parts by 26.3% during the second quarter. Simmons Bank now owns 16,336 shares of the specialty retailer’s stock worth $2,172,000 after purchasing an additional 3,405 shares in the last quarter. Greenfield Savings Bank acquired a new stake in Genuine Parts during the 2nd quarter valued at $539,000. Patriot Financial Group Insurance Agency LLC raised its stake in Genuine Parts by 21.2% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,403 shares of the specialty retailer’s stock valued at $320,000 after purchasing an additional 421 shares during the period. Pinnacle Financial Partners Inc. raised its stake in Genuine Parts by 8.1% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 5,278 shares of the specialty retailer’s stock valued at $702,000 after purchasing an additional 397 shares during the period. Finally, Walker Asset Management LLC acquired a new stake in Genuine Parts during the 2nd quarter valued at $825,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Company Profile

(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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