Genuine Parts (NYSE:GPC) Issues Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Genuine Parts reported quarterly EPS of $2.07, exceeding analysts’ consensus estimate of $2.04 by $0.03.
• Shares opened at $130.07 and were reported down 2.9%; the company has a market capitalization of about $17.93 billion and a 52-week range of $90.78 to $151.57.
• Genuine Parts maintained its quarterly dividend of $1.0625 per share, or $4.25 annualized, yielding approximately 3.3%. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $146.

Genuine Parts (NYSE:GPC - Get Free Report) posted its quarterly earnings data on Tuesday. The specialty retailer reported $2.07 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.03, Zacks reports. Genuine Parts had a net margin of 0.13% and a return on equity of 22.59%.

Genuine Parts Stock Down 2.9%

Shares of NYSE:GPC opened at $130.07 on Tuesday. The stock has a 50-day simple moving average of $132.11 and a 200-day simple moving average of $118.68. The stock has a market capitalization of $17.93 billion, a P/E ratio of 520.27, a PEG ratio of 2.48 and a beta of 0.67. Genuine Parts has a 1 year low of $90.78 and a 1 year high of $151.57. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.50 and a current ratio of 1.16.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were paid a dividend of $1.0625 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $4.25 annualized dividend and a dividend yield of 3.3%. Genuine Parts's payout ratio is currently 1,700.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GPC shares. UBS Group reissued a "neutral" rating and set a $122.00 price target on shares of Genuine Parts in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on Genuine Parts from $125.00 to $137.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Genuine Parts in a report on Monday, September 21st. Raymond James Financial reissued a "strong-buy" rating and set a $165.00 price target on shares of Genuine Parts in a research note on Wednesday, July 22nd. Finally, Truist Financial boosted their target price on Genuine Parts from $124.00 to $126.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $146.00.

Genuine Parts Company Profile

Genuine Parts Company NYSE: GPC is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company's Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.

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