Genuine Parts Company (NYSE:GPC - Get Free Report) declared a quarterly dividend on Tuesday, August 12th, RTT News reports. Stockholders of record on Friday, September 5th will be paid a dividend of 1.03 per share by the specialty retailer on Thursday, October 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%.
Genuine Parts has a dividend payout ratio of 48.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Genuine Parts to earn $8.90 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 46.3%.
Genuine Parts Stock Up 1.0%
Shares of GPC stock traded up $1.37 on Tuesday, reaching $134.77. 847,034 shares of the company's stock traded hands, compared to its average volume of 1,417,031. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $144.49. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The company has a market capitalization of $18.75 billion, a P/E ratio of 23.20 and a beta of 0.75. The business's 50 day moving average price is $126.11 and its two-hundred day moving average price is $122.28.
Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. Genuine Parts's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on GPC shares. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Truist Financial lifted their price objective on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Evercore ISI reduced their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, UBS Group lifted their price objective on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of "Hold" and an average price target of $135.29.
Read Our Latest Report on GPC
About Genuine Parts
(
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Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: 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 equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.
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