Zacks Research Analysts Decrease Earnings Estimates for Group 1 Automotive, Inc. (NYSE:GPI)

Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) – Equities researchers at Zacks Research decreased their Q3 2023 earnings estimates for Group 1 Automotive in a research report issued to clients and investors on Monday, May 8th. Zacks Research analyst R. Singhi now expects that the company will post earnings per share of $7.78 for the quarter, down from their previous estimate of $7.98. The consensus estimate for Group 1 Automotive’s current full-year earnings is $40.52 per share. Zacks Research also issued estimates for Group 1 Automotive’s Q3 2023 earnings at $7.78 EPS.

A number of other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Group 1 Automotive from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 21st. Stephens increased their target price on shares of Group 1 Automotive from $275.00 to $290.00 in a research note on Thursday, January 26th. Morgan Stanley lowered their price objective on shares of Group 1 Automotive from $142.00 to $134.00 and set an “underweight” rating on the stock in a report on Tuesday, January 17th. Finally, StockNews.com upgraded shares of Group 1 Automotive from a “hold” rating to a “buy” rating in a report on Thursday, March 23rd.

Group 1 Automotive Price Performance

Shares of GPI stock opened at $218.78 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.27 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 4.73, a PEG ratio of 1.77 and a beta of 1.47. The firm’s 50 day moving average is $219.46 and its 200-day moving average is $203.70. Group 1 Automotive has a 1 year low of $136.16 and a 1 year high of $242.68.

Group 1 Automotive (NYSE:GPI – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The company reported $10.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.70 by $1.23. Group 1 Automotive had a net margin of 4.20% and a return on equity of 31.16%. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the business earned $10.81 EPS. Group 1 Automotive’s quarterly revenue was up 6.7% compared to the same quarter last year.

Group 1 Automotive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were given a $0.45 dividend. The ex-dividend date was Tuesday, February 28th. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.82%. Group 1 Automotive’s dividend payout ratio is 3.89%.

Insider Buying and Selling at Group 1 Automotive

In other news, VP Michael David Jones sold 1,500 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $229.67, for a total value of $344,505.00. Following the completion of the transaction, the vice president now directly owns 13,355 shares of the company’s stock, valued at $3,067,242.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Michael David Jones sold 1,500 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $229.67, for a total value of $344,505.00. Following the transaction, the vice president now owns 13,355 shares in the company, valued at $3,067,242.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Darryl M. Burman sold 2,500 shares of the stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $236.68, for a total value of $591,700.00. Following the sale, the vice president now owns 17,259 shares in the company, valued at $4,084,860.12. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

Several hedge funds have recently bought and sold shares of the business. OLD Mission Capital LLC acquired a new stake in shares of Group 1 Automotive in the fourth quarter valued at approximately $27,000. New Hampshire Trust bought a new stake in Group 1 Automotive during the 4th quarter worth about $31,000. Amundi bought a new stake in shares of Group 1 Automotive in the 4th quarter valued at about $41,000. EverSource Wealth Advisors LLC grew its stake in Group 1 Automotive by 81.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock valued at $35,000 after buying an additional 109 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in Group 1 Automotive by 133.0% in the 1st quarter. Benjamin Edwards Inc. now owns 247 shares of the company’s stock valued at $56,000 after buying an additional 141 shares during the last quarter. 97.71% of the stock is owned by institutional investors and hedge funds.

About Group 1 Automotive

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Group 1 Automotive, Inc engages in the automotive retailing industry. The firm operates through the following geographical segments: U.S, the UK, and Brazil. It also sells new and used cars and light trucks, arranges related vehicle financing, sells service contracts, provides automotive maintenance and repair services, and sells vehicle parts.