What is Zacks Research’s Estimate for GPI FY2024 Earnings?

Group 1 Automotive, Inc. (NYSE:GPI) – Analysts at Zacks Research raised their FY2024 earnings estimates for Group 1 Automotive in a research note issued to investors on Wednesday, November 13th. Zacks Research analyst L. Shahu now expects that the company will earn $38.50 per share for the year, up from their prior estimate of $38.27. The consensus estimate for Group 1 Automotive’s current full-year earnings is $38.60 per share. Zacks Research also issued estimates for Group 1 Automotive’s Q4 2024 earnings at $9.31 EPS, Q1 2025 earnings at $9.61 EPS, Q2 2025 earnings at $10.25 EPS, Q4 2025 earnings at $9.90 EPS and FY2026 earnings at $41.99 EPS.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the firm posted $12.07 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis.

Several other brokerages have also recently issued reports on GPI. Bank of America dropped their price objective on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stephens assumed coverage on Group 1 Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 target price on the stock. Finally, StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $397.80.

Group 1 Automotive Trading Up 0.9 %

NYSE:GPI opened at $414.81 on Friday. Group 1 Automotive has a 12-month low of $255.73 and a 12-month high of $422.28. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91. The stock’s 50 day simple moving average is $371.84 and its 200-day simple moving average is $338.39. The firm has a market cap of $5.53 billion, a P/E ratio of 11.05, a PEG ratio of 2.15 and a beta of 1.33.

Group 1 Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio is currently 5.01%.

Group 1 Automotive announced that its Board of Directors has approved a share buyback plan on Tuesday, November 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 9.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the sale, the vice president now owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Group 1 Automotive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of Group 1 Automotive by 244.7% during the 3rd quarter. Barclays PLC now owns 56,319 shares of the company’s stock worth $21,573,000 after purchasing an additional 39,982 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Group 1 Automotive by 20.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 264 shares of the company’s stock worth $101,000 after acquiring an additional 44 shares during the last quarter. MML Investors Services LLC boosted its position in Group 1 Automotive by 7.4% during the third quarter. MML Investors Services LLC now owns 6,328 shares of the company’s stock worth $2,424,000 after acquiring an additional 437 shares during the last quarter. Hodges Capital Management Inc. grew its stake in Group 1 Automotive by 1.3% in the 3rd quarter. Hodges Capital Management Inc. now owns 21,960 shares of the company’s stock worth $8,412,000 after acquiring an additional 289 shares during the period. Finally, Orion Portfolio Solutions LLC raised its holdings in Group 1 Automotive by 23.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,975 shares of the company’s stock valued at $1,906,000 after acquiring an additional 937 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Company Profile

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.