Seaport Res Ptn Issues Pessimistic Forecast for GPI Earnings

Group 1 Automotive, Inc. (NYSE:GPI) – Investment analysts at Seaport Res Ptn reduced their Q4 2024 EPS estimates for shares of Group 1 Automotive in a research report issued to clients and investors on Thursday, November 21st. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $9.22 per share for the quarter, down from their prior forecast of $9.25. The consensus estimate for Group 1 Automotive’s current full-year earnings is $38.37 per share.

GPI has been the subject of a number of other research reports. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Stephens started coverage on shares of Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Guggenheim boosted their target price on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $425.20.

Group 1 Automotive Trading Up 3.1 %

Group 1 Automotive stock opened at $421.14 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00. The stock has a market cap of $5.61 billion, a PE ratio of 11.22 and a beta of 1.33. The stock has a 50-day moving average of $377.50 and a two-hundred day moving average of $342.90. Group 1 Automotive has a one year low of $255.73 and a one year high of $422.92.

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

Hedge Funds Weigh In On Group 1 Automotive

A number of hedge funds have recently bought and sold shares of GPI. Assetmark Inc. increased its position in shares of Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after buying an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Group 1 Automotive in the 3rd quarter valued at $36,000. Avior Wealth Management LLC purchased a new stake in Group 1 Automotive in the 3rd quarter worth $46,000. Hexagon Capital Partners LLC lifted its holdings in Group 1 Automotive by 53.7% during the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after purchasing an additional 51 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Group 1 Automotive in the second quarter valued at about $48,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Insider Buying and Selling at Group 1 Automotive

In other news, VP Edward Mckissic sold 79 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Group 1 Automotive declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Group 1 Automotive Announces Dividend

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

Group 1 Automotive Company Profile

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.