Q4 2024 EPS Estimates for Genuine Parts Boosted by Zacks Research (NYSE:GPC)

Genuine Parts (NYSE:GPC) – Equities research analysts at Zacks Research upped their Q4 2024 EPS estimates for shares of Genuine Parts in a note issued to investors on Monday, September 4th. Zacks Research analyst L. Shahu now forecasts that the specialty retailer will earn $2.53 per share for the quarter, up from their previous estimate of $2.51. The consensus estimate for Genuine Parts’ current full-year earnings is $9.24 per share.

Several other research firms also recently weighed in on GPC. JPMorgan Chase & Co. cut their price target on Genuine Parts from $190.00 to $184.00 and set an “overweight” rating on the stock in a research note on Friday, July 21st. Wedbush lowered their price target on Genuine Parts from $170.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. Bank of America raised Genuine Parts from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $185.00 to $189.00 in a report on Thursday, June 1st. Northcoast Research initiated coverage on shares of Genuine Parts in a research report on Wednesday, June 28th. They set a “buy” rating and a $195.00 price target for the company. Finally, Stephens dropped their price objective on shares of Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating on the stock in a report on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.00.

Genuine Parts Trading Up 0.1 %

NYSE GPC opened at $151.01 on Thursday. The firm has a market capitalization of $21.21 billion, a PE ratio of 17.66, a P/E/G ratio of 1.84 and a beta of 0.90. The stock’s 50 day moving average is $158.54 and its 200 day moving average is $162.60. Genuine Parts has a twelve month low of $145.30 and a twelve month high of $187.73. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.73.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.10. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.96 billion. Genuine Parts had a net margin of 5.30% and a return on equity of 32.43%. Genuine Parts’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors have recently modified their holdings of GPC. Vanguard Group Inc. raised its position in Genuine Parts by 2.9% during the first quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock worth $2,153,442,000 after acquiring an additional 481,039 shares during the period. State Street Corp raised its position in shares of Genuine Parts by 2.2% in the second quarter. State Street Corp now owns 7,344,846 shares of the specialty retailer’s stock valued at $1,249,779,000 after buying an additional 155,203 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Genuine Parts by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,378,334 shares of the specialty retailer’s stock worth $910,664,000 after buying an additional 205,421 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Genuine Parts by 388.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,241,510 shares of the specialty retailer’s stock valued at $119,159,000 after acquiring an additional 2,577,514 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Genuine Parts by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,032,717 shares of the specialty retailer’s stock worth $511,903,000 after purchasing an additional 55,046 shares in the last quarter. 77.51% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a $0.95 dividend. The ex-dividend date is Thursday, September 7th. This represents a $3.80 annualized dividend and a yield of 2.52%. Genuine Parts’s dividend payout ratio is presently 44.44%.

About Genuine Parts

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, and individuals.