Genuine Parts (GPC) Scheduled to Post Earnings on Tuesday

Genuine Parts (NYSE:GPC) is scheduled to release its earnings data before the market opens on Tuesday, October 22nd. Analysts expect Genuine Parts to post earnings of $2.45 per share for the quarter. Genuine Parts has set its FY24 guidance at $9.30-9.50 EPS and its FY 2024 guidance at 9.300-9.500 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results 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). The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 EPS. On average, analysts expect Genuine Parts to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Genuine Parts Stock Performance

NYSE:GPC opened at $139.44 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The company has a market cap of $19.42 billion, a P/E ratio of 15.55 and a beta of 0.90. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The firm’s 50 day moving average is $138.62 and its two-hundred day moving average is $143.44.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial reissued a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. UBS Group cut 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 note on Wednesday, July 3rd. The Goldman Sachs Group cut their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Wedbush cut their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Evercore ISI cut their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $161.14.

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.