FY2024 Earnings Estimate for Genuine Parts Issued By Wedbush

Genuine Parts (NYSE:GPC) – Analysts at Wedbush decreased their FY2024 EPS estimates for shares of Genuine Parts in a report issued on Wednesday, October 23rd. Wedbush analyst S. Basham now anticipates that the specialty retailer will post earnings of $8.18 per share for the year, down from their previous forecast of $9.39. Wedbush currently has a “Neutral” rating and a $120.00 price target on the stock. The consensus estimate for Genuine Parts’ current full-year earnings is $8.10 per share. Wedbush also issued estimates for Genuine Parts’ Q4 2024 earnings at $1.64 EPS, Q3 2025 earnings at $1.95 EPS, Q4 2025 earnings at $1.77 EPS, FY2025 earnings at $8.34 EPS and FY2026 earnings at $8.99 EPS.

GPC has been the topic of a number of other research reports. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. The Goldman Sachs Group cut their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Performance

Shares of GPC stock opened at $114.24 on Monday. The company has a market capitalization of $15.91 billion, a P/E ratio of 12.74 and a beta of 0.90. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The business’s 50 day moving average is $137.22 and its two-hundred day moving average is $142.08. The company has a current ratio of 1.17, a quick ratio of 0.54 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the company posted $2.49 EPS. The company’s revenue was up 3.0% on a year-over-year basis.

Institutional Investors Weigh In On Genuine Parts

Large investors have recently made changes to their positions in the stock. Concord Wealth Partners boosted its stake in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the last quarter. Manchester Capital Management LLC grew its holdings in shares of Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares during the period. Triad Wealth Partners LLC acquired a new stake in Genuine Parts during the second quarter worth about $40,000. Rosenberg Matthew Hamilton raised its stake in Genuine Parts by 92.2% during the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock worth $50,000 after purchasing an additional 178 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its holdings in Genuine Parts by 63.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 141 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.50%. Genuine Parts’s payout ratio is 44.59%.

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.