Equities research analysts predict that Group 1 Automotive, Inc. (NYSE:GPI) will report earnings of $1.71 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Group 1 Automotive’s earnings, with estimates ranging from $1.52 to $2.02. Group 1 Automotive reported earnings of $1.53 per share during the same quarter last year, which would indicate a positive year over year growth rate of 11.8%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Group 1 Automotive will report full year earnings of $8.80 per share for the current fiscal year, with EPS estimates ranging from $8.20 to $9.83. For the next financial year, analysts forecast that the company will report earnings of $9.12 per share, with EPS estimates ranging from $8.03 to $10.26. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Group 1 Automotive.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.24. Group 1 Automotive had a net margin of 1.89% and a return on equity of 15.85%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the firm posted $1.74 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis.
A number of research analysts have weighed in on GPI shares. Zacks Investment Research raised shares of Group 1 Automotive from a “hold” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research note on Wednesday, January 31st. Bank of America lifted their price target on shares of Group 1 Automotive from $103.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Buckingham Research raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Friday, January 5th. Morgan Stanley lifted their price target on shares of Group 1 Automotive from $53.00 to $62.00 and gave the company an “underweight” rating in a research note on Wednesday, March 14th. Finally, Stephens reaffirmed a “hold” rating and issued a $86.00 price target on shares of Group 1 Automotive in a research note on Wednesday, March 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $82.88.
GPI traded down $0.31 during trading on Thursday, reaching $61.52. The company had a trading volume of 77,151 shares, compared to its average volume of 264,123. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.26 and a current ratio of 1.06. Group 1 Automotive has a 12 month low of $51.62 and a 12 month high of $84.47. The firm has a market cap of $1,324.75, a P/E ratio of 7.94, a PEG ratio of 1.03 and a beta of 1.75.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Wednesday, February 28th. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.25. Group 1 Automotive’s payout ratio is currently 13.45%.
In other news, CEO Earl J. Hesterberg sold 28,519 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $80.06, for a total value of $2,283,231.14. Following the sale, the chief executive officer now owns 108,440 shares of the company’s stock, valued at $8,681,706.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.08% of the company’s stock.
Several hedge funds have recently made changes to their positions in GPI. Millennium Management LLC increased its holdings in Group 1 Automotive by 158.5% during the fourth quarter. Millennium Management LLC now owns 312,699 shares of the company’s stock worth $22,192,000 after buying an additional 191,709 shares during the last quarter. BlackRock Inc. increased its holdings in Group 1 Automotive by 5.5% during the fourth quarter. BlackRock Inc. now owns 2,606,030 shares of the company’s stock worth $184,949,000 after buying an additional 135,710 shares during the last quarter. Burney Co. acquired a new position in Group 1 Automotive during the fourth quarter worth $6,014,000. SG Capital Management LLC acquired a new position in Group 1 Automotive during the fourth quarter worth $4,320,000. Finally, TIAA CREF Investment Management LLC increased its holdings in Group 1 Automotive by 49.1% during the fourth quarter. TIAA CREF Investment Management LLC now owns 120,257 shares of the company’s stock worth $8,535,000 after buying an additional 39,622 shares during the last quarter. 97.57% of the stock is currently owned by institutional investors and hedge funds.
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Group 1 Automotive Company Profile
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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