Genuine Parts Expected to Post Q3 2024 Earnings of $2.45 Per Share (NYSE:GPC)

Genuine Parts (NYSE:GPC) – Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of Genuine Parts in a research report issued on Tuesday, August 6th. Zacks Research analyst R. Department now anticipates that the specialty retailer will post earnings per share of $2.45 for the quarter, down from their previous forecast of $2.67. The consensus estimate for Genuine Parts’ current full-year earnings is $9.36 per share. Zacks Research also issued estimates for Genuine Parts’ Q4 2024 earnings at $2.27 EPS, FY2024 earnings at $9.39 EPS, Q1 2025 earnings at $2.29 EPS, Q2 2025 earnings at $2.67 EPS, Q3 2025 earnings at $2.57 EPS, Q4 2025 earnings at $2.48 EPS, FY2025 earnings at $10.01 EPS, Q1 2026 earnings at $2.43 EPS, Q2 2026 earnings at $2.88 EPS and FY2026 earnings at $10.81 EPS.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period last year, the business posted $2.44 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year.

A number of other brokerages also recently commented on GPC. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Wedbush decreased their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Evercore ISI reduced their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group reduced their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Truist Financial reduced their price objective on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Up 0.9 %

NYSE:GPC opened at $138.49 on Wednesday. The company has a market capitalization of $19.29 billion, a price-to-earnings ratio of 15.44 and a beta of 0.92. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The stock has a 50-day simple moving average of $139.62 and a 200 day simple moving average of $146.47. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Institutional Trading of Genuine Parts

Hedge funds and other institutional investors have recently modified their holdings of the stock. WD Rutherford LLC acquired a new stake in Genuine Parts during the 1st quarter worth $26,000. Assetmark Inc. grew its holdings in Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares during the period. Union Savings Bank grew its holdings in Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 100 shares during the period. Thompson Investment Management Inc. acquired a new stake in Genuine Parts during the 1st quarter worth $35,000. Finally, Stephens Consulting LLC grew its holdings in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

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.