Genuine Parts (NYSE:GPC) Releases Earnings Results, Beats Expectations By $0.03 EPS

Genuine Parts (NYSE:GPC) released its earnings results on Tuesday. The specialty retailer reported $2.07 EPS for the quarter, topping the consensus estimate of $2.04 by $0.03, Zacks reports. Genuine Parts had a net margin of 0.13% and a return on equity of 22.59%.

Genuine Parts Trading Down 2.9%

NYSE:GPC opened at $130.07 on Tuesday. Genuine Parts has a 1-year low of $90.78 and a 1-year high of $151.57. The stock has a fifty day simple moving average of $132.11 and a 200 day simple moving average of $118.68. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of 520.27, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67. The company has a quick ratio of 0.50, a current ratio of 1.16 and a debt-to-equity ratio of 0.88.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were given a dividend of $1.0625 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.3%. Genuine Parts’s payout ratio is 1,700.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GPC. JPMorgan Chase & Co. upped their price target on Genuine Parts from $125.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $165.00 price objective on shares of Genuine Parts in a report on Wednesday, July 22nd. Evercore restated an “outperform” rating on shares of Genuine Parts in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, September 21st. Finally, UBS Group reaffirmed a “neutral” rating and set a $122.00 target price on shares of Genuine Parts in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $146.00.

About Genuine Parts

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.