Group 1 Automotive, Inc. (NYSE:GPI) announced a quarterly dividend on Thursday, May 16th, RTT News reports. Shareholders of record on Monday, June 3rd will be paid a dividend of 0.26 per share on Monday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, May 31st.

Group 1 Automotive has raised its dividend by an average of 7.8% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Group 1 Automotive has a payout ratio of 11.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Group 1 Automotive to earn $10.33 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 10.1%.

Shares of GPI stock opened at $76.48 on Friday. Group 1 Automotive has a twelve month low of $48.69 and a twelve month high of $81.65. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 1.89 and a beta of 1.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.23.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Thursday, April 25th. The company reported $2.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.25. Group 1 Automotive had a return on equity of 15.56% and a net margin of 1.38%. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the prior year, the business earned $1.70 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts forecast that Group 1 Automotive will post 10.12 EPS for the current year.

In related news, insider Michael David Jones sold 2,500 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $77.76, for a total transaction of $194,400.00. Following the completion of the sale, the insider now directly owns 13,921 shares in the company, valued at approximately $1,082,496.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.00% of the company’s stock.

Group 1 Automotive announced that its Board of Directors has authorized a stock buyback program on Thursday, February 21st that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Several equities research analysts have weighed in on the company. ValuEngine upgraded Group 1 Automotive from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 20th. Buckingham Research cut Group 1 Automotive from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $72.00 to $83.00 in a research note on Friday, April 26th. Morgan Stanley upped their price objective on Group 1 Automotive from $55.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Seaport Global Securities started coverage on Group 1 Automotive in a research note on Wednesday, February 13th. They set a “buy” rating for the company. They noted that the move was a valuation call. Finally, TheStreet upgraded Group 1 Automotive from a “c+” rating to a “b-” rating in a research note on Thursday, January 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $84.00.

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About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.

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Dividend History for Group 1 Automotive (NYSE:GPI)

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