Genuine Parts (NYSE:GPC) Issues FY 2024 Earnings Guidance

Genuine Parts (NYSE:GPC) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 9.300-9.500 for the period, compared to the consensus EPS estimate of 9.860. The company issued revenue guidance of $23.3 billion-$23.8 billion, compared to the consensus revenue estimate of $23.8 billion. Genuine Parts also updated its FY24 guidance to $9.30-9.50 EPS.

Wall Street Analyst Weigh In

GPC has been the subject of a number of analyst reports. Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a hold rating in a report on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a hold rating to a buy rating in a report on Wednesday. The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a neutral rating for the company in a research note on Wednesday. Evercore ISI lowered their price objective on Genuine Parts from $150.00 to $148.00 and set an in-line rating for the company in a research report on Wednesday. Finally, UBS Group dropped their target price on shares of Genuine Parts from $165.00 to $150.00 and set a neutral rating on the stock in a research report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $161.14.

Genuine Parts Stock Performance

Shares of NYSE:GPC traded up $4.30 during trading on Thursday, hitting $140.04. 318,230 shares of the stock traded hands, compared to its average volume of 1,021,085. The company has a fifty day moving average price of $140.83 and a two-hundred day moving average price of $146.31. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The company has a market cap of $19.51 billion, a price-to-earnings ratio of 15.55 and a beta of 0.92. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.39% and a net margin of 5.24%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the company posted $2.44 EPS. The company’s revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that Genuine Parts will post 9.4 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the transaction, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Company Profile

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.