Zacks: Brokerages Expect Group 1 Automotive, Inc. (GPI) Will Announce Quarterly Sales of $2.85 Billion

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Analysts expect Group 1 Automotive, Inc. (NYSE:GPI) to post $2.85 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Group 1 Automotive’s earnings. Group 1 Automotive posted sales of $2.86 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 0.3%. The business is scheduled to report its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Group 1 Automotive will report full-year sales of $11.45 billion for the current financial year, with estimates ranging from $11.09 billion to $11.70 billion. For the next fiscal year, analysts anticipate that the business will report sales of $11.44 billion, with estimates ranging from $10.94 billion to $11.80 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Group 1 Automotive.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $2.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.03. Group 1 Automotive had a return on equity of 15.31% and a net margin of 1.36%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the business earned $2.11 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis.

A number of brokerages have recently weighed in on GPI. Zacks Investment Research upgraded Group 1 Automotive from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Wednesday, December 5th. Seaport Global Securities began coverage on Group 1 Automotive in a report on Wednesday, February 13th. They issued a “buy” rating for the company. They noted that the move was a valuation call. ValuEngine downgraded Group 1 Automotive from a “sell” rating to a “strong sell” rating in a report on Friday, February 8th. JPMorgan Chase & Co. initiated coverage on Group 1 Automotive in a research report on Tuesday, February 19th. They set an “overweight” rating and a $77.00 price objective for the company. Finally, Morgan Stanley set a $55.00 price objective on Group 1 Automotive and gave the company a “hold” rating in a research report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $73.67.

A number of hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in Group 1 Automotive during the 4th quarter worth $14,039,000. Nordea Investment Management AB boosted its position in Group 1 Automotive by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 55,600 shares of the company’s stock worth $2,931,000 after acquiring an additional 500 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Group 1 Automotive by 47.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 87,752 shares of the company’s stock worth $4,627,000 after acquiring an additional 28,134 shares during the period. Mutual Advisors LLC boosted its position in Group 1 Automotive by 26.6% during the 4th quarter. Mutual Advisors LLC now owns 16,200 shares of the company’s stock worth $854,000 after acquiring an additional 3,400 shares during the period. Finally, Tyvor Capital LLC boosted its position in Group 1 Automotive by 1,050.9% during the 4th quarter. Tyvor Capital LLC now owns 57,543 shares of the company’s stock worth $3,034,000 after acquiring an additional 52,543 shares during the period. Institutional investors own 98.54% of the company’s stock.

Shares of NYSE GPI traded up $0.09 during trading on Friday, reaching $61.41. The stock had a trading volume of 449,691 shares, compared to its average volume of 161,717. Group 1 Automotive has a one year low of $48.69 and a one year high of $81.16. The company has a current ratio of 1.01, a quick ratio of 0.23 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 6.89, a price-to-earnings-growth ratio of 1.66 and a beta of 1.78.

Group 1 Automotive declared that its board has initiated a share buyback plan on Thursday, February 21st that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.26 per share. The ex-dividend date was Thursday, February 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.69%. Group 1 Automotive’s dividend payout ratio is currently 11.67%.

About Group 1 Automotive

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 insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.

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Earnings History and Estimates for Group 1 Automotive (NYSE:GPI)

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