FY2024 EPS Estimate for Group 1 Automotive Raised by Analyst

Group 1 Automotive, Inc. (NYSE:GPI) – Equities research analysts at Zacks Research increased their FY2024 earnings estimates for shares of Group 1 Automotive in a report released on Wednesday, November 13th. Zacks Research analyst L. Shahu now forecasts that the company will post earnings of $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.

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

Group 1 Automotive Stock Up 0.9 %

GPI opened at $414.81 on Friday. Group 1 Automotive has a twelve month low of $255.73 and a twelve month high of $422.28. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average price of $371.84 and a 200-day moving average price of $338.70. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 2.15 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the business earned $12.07 EPS. Group 1 Automotive’s revenue was up 11.0% compared to the same quarter last year.

Institutional Investors Weigh In On Group 1 Automotive

Institutional investors have recently made changes to their positions in the company. Assetmark Inc. boosted its holdings in Group 1 Automotive by 51.9% during the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after acquiring an additional 28 shares during the period. Arizona State Retirement System increased its holdings in Group 1 Automotive by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 3,832 shares of the company’s stock worth $1,139,000 after purchasing an additional 33 shares during the period. EverSource Wealth Advisors LLC raised its position in Group 1 Automotive by 17.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock valued at $79,000 after purchasing an additional 39 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Group 1 Automotive by 20.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 264 shares of the company’s stock worth $101,000 after buying an additional 44 shares during the period. Finally, SummerHaven Investment Management LLC increased its stake in shares of Group 1 Automotive by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 2,854 shares of the company’s stock valued at $848,000 after buying an additional 49 shares during the period. Institutional investors own 99.92% of the company’s stock.

Insiders Place Their Bets

In related news, VP Edward Mckissic sold 79 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 6,259 shares in the company, valued at $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Group 1 Automotive declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 9.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Group 1 Automotive Dividend Announcement

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

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.