Q3 2024 Earnings Forecast for Group 1 Automotive, Inc. (NYSE:GPI) Issued By Zacks Research

Group 1 Automotive, Inc. (NYSE:GPI) – Stock analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for Group 1 Automotive in a note issued to investors on Tuesday, May 14th. Zacks Research analyst L. Shahu now forecasts that the company will post earnings of $10.08 per share for the quarter, up from their prior forecast of $9.80. The consensus estimate for Group 1 Automotive’s current full-year earnings is $38.97 per share. Zacks Research also issued estimates for Group 1 Automotive’s Q4 2024 earnings at $8.98 EPS, Q1 2025 earnings at $9.29 EPS, Q3 2025 earnings at $9.48 EPS and FY2025 earnings at $38.94 EPS.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $9.49 EPS for the quarter, missing analysts’ consensus estimates of $9.52 by ($0.03). The company had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.30 billion. Group 1 Automotive had a net margin of 3.23% and a return on equity of 22.45%.

Other research analysts also recently issued research reports about the company. Guggenheim raised Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price target for the company in a research note on Wednesday, April 17th. Stephens reiterated an “overweight” rating and issued a $330.00 target price on shares of Group 1 Automotive in a research report on Tuesday, February 13th. StockNews.com cut Group 1 Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. decreased their target price on Group 1 Automotive from $315.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Morgan Stanley upgraded Group 1 Automotive from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $200.00 to $255.00 in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and three 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 an average price target of $330.83.

Group 1 Automotive Stock Down 1.0 %

GPI stock opened at $317.67 on Wednesday. The company has a market cap of $4.30 billion, a PE ratio of 7.50, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. The business has a 50-day simple moving average of $284.26 and a 200 day simple moving average of $280.24. Group 1 Automotive has a 52 week low of $217.71 and a 52 week high of $323.95. The company has a quick ratio of 0.27, a current ratio of 1.04 and a debt-to-equity ratio of 0.87.

Institutional Trading of Group 1 Automotive

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Group 1 Automotive in the fourth quarter valued at approximately $46,923,000. Hennessy Advisors Inc. bought a new stake in Group 1 Automotive in the fourth quarter valued at approximately $24,562,000. Wellington Management Group LLP bought a new stake in Group 1 Automotive in the fourth quarter valued at approximately $21,296,000. The Manufacturers Life Insurance Company boosted its holdings in Group 1 Automotive by 12.5% in the third quarter. The Manufacturers Life Insurance Company now owns 574,561 shares of the company’s stock valued at $154,390,000 after acquiring an additional 63,726 shares during the last quarter. Finally, Covalis Capital LLP bought a new stake in Group 1 Automotive in the third quarter valued at approximately $16,330,000. 99.92% of the stock is currently owned by institutional investors.

Insider Transactions at Group 1 Automotive

In other news, VP Michael David Jones sold 1,400 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $294.63, for a total transaction of $412,482.00. Following the sale, the vice president now directly owns 11,535 shares in the company, valued at $3,398,557.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

Group 1 Automotive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, June 3rd. Group 1 Automotive’s dividend payout ratio (DPR) is currently 4.44%.

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.