Group 1 Automotive (NYSE:GPI) Releases Quarterly Earnings Results, Beats Expectations By $1.49 EPS
Group 1 Automotive (NYSE:GPI – Get Rating) issued its quarterly earnings data on Wednesday. The company reported $10.92 earnings per share for the quarter, topping the consensus estimate of $9.43 by $1.49, Briefing.com reports. Group 1 Automotive had a net margin of 4.45% and a return on equity of 39.08%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the firm posted $5.57 earnings per share. Group 1 Automotive’s revenue for the quarter was up 30.1% on a year-over-year basis.
Shares of NYSE GPI traded down $3.80 during trading on Friday, hitting $174.14. 183,669 shares of the company traded hands, compared to its average volume of 179,684. The business’s fifty day moving average is $177.91 and its 200 day moving average is $184.81. Group 1 Automotive has a fifty-two week low of $143.00 and a fifty-two week high of $212.23. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 4.78, a P/E/G ratio of 0.41 and a beta of 1.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.38 and a current ratio of 1.08.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, February 28th. This represents a $1.44 annualized dividend and a dividend yield of 0.83%. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.35. Group 1 Automotive’s dividend payout ratio is currently 3.96%.
A number of analysts have commented on GPI shares. Morgan Stanley cut their price target on shares of Group 1 Automotive from $200.00 to $187.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 8th. StockNews.com started coverage on shares of Group 1 Automotive in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. cut shares of Group 1 Automotive from an “overweight” rating to a “neutral” rating and cut their price target for the company from $240.00 to $200.00 in a research report on Thursday, April 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $230.60.
In related news, VP Michael David Jones sold 4,000 shares of the company’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $180.20, for a total value of $720,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Earl J. Hesterberg sold 3,294 shares of the company’s stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $197.21, for a total transaction of $649,609.74. The disclosure for this sale can be found here. Insiders have sold 11,672 shares of company stock worth $2,175,830 in the last quarter. Company insiders own 5.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in shares of Group 1 Automotive by 1.5% in the 4th quarter. Wells Fargo & Company MN now owns 69,515 shares of the company’s stock worth $13,570,000 after acquiring an additional 1,039 shares during the last quarter. Legal & General Group Plc grew its position in Group 1 Automotive by 3.2% in the 4th quarter. Legal & General Group Plc now owns 53,560 shares of the company’s stock worth $10,456,000 after purchasing an additional 1,645 shares in the last quarter. California State Teachers Retirement System grew its position in Group 1 Automotive by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 24,324 shares of the company’s stock worth $4,749,000 after purchasing an additional 441 shares in the last quarter. Deutsche Bank AG grew its position in Group 1 Automotive by 51.3% in the 4th quarter. Deutsche Bank AG now owns 17,146 shares of the company’s stock worth $3,348,000 after purchasing an additional 5,810 shares in the last quarter. Finally, Vident Investment Advisory LLC grew its position in Group 1 Automotive by 4.9% in the 4th quarter. Vident Investment Advisory LLC now owns 13,155 shares of the company’s stock worth $2,569,000 after purchasing an additional 612 shares in the last quarter. Institutional investors own 96.94% of the company’s stock.
About Group 1 Automotive (Get Rating)
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. 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. It operates primarily in 17 states in the United States; and 35 towns in the United Kingdom.
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