Group 1 Automotive (NYSE:GPI) Issues Quarterly Earnings Results

Group 1 Automotive (NYSE:GPI) posted its quarterly earnings results on Wednesday. The company reported $9.80 EPS for the quarter, topping the consensus estimate of $9.36 by $0.44, Yahoo Finance reports. Group 1 Automotive had a net margin of 3.23% and a return on equity of 22.45%. The company had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the previous year, the business posted $11.73 EPS. The firm’s revenue was up 3.0% on a year-over-year basis.

Group 1 Automotive Stock Performance

GPI stock traded up $11.44 on Thursday, hitting $337.15. The company’s stock had a trading volume of 219,500 shares, compared to its average volume of 135,400. The firm has a 50 day moving average of $303.34 and a two-hundred day moving average of $286.69. Group 1 Automotive has a 1 year low of $228.84 and a 1 year high of $338.00. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 1.58 and a beta of 1.35. The company has a current ratio of 1.04, a quick ratio of 0.27 and a debt-to-equity ratio of 0.87.

Group 1 Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Monday, June 3rd. Group 1 Automotive’s payout ratio is 4.44%.

Insider Activity at Group 1 Automotive

In related news, VP Michael David Jones sold 1,400 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $294.63, for a total value of $412,482.00. Following the completion of the sale, the vice president now owns 11,535 shares in the company, valued at approximately $3,398,557.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Michael David Jones sold 1,400 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $294.63, for a total value of $412,482.00. Following the completion of the sale, the vice president now owns 11,535 shares in the company, valued at approximately $3,398,557.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel James Mchenry sold 2,437 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $309.61, for a total transaction of $754,519.57. Following the completion of the sale, the chief financial officer now owns 22,430 shares of the company’s stock, valued at approximately $6,944,552.30. The disclosure for this sale can be found here. Insiders sold a total of 4,007 shares of company stock worth $1,221,218 in the last 90 days. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GPI. Guggenheim upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price target for the company in a report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their price target on shares of Group 1 Automotive from $315.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Bank of America lowered their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a report on Monday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Group 1 Automotive currently has an average rating of “Moderate Buy” and an average target price of $329.17.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.