Genuine Parts Expected to Post Q3 2024 Earnings of $2.45 Per Share (NYSE:GPC)

Genuine Parts (NYSE:GPC) – Zacks Research decreased their Q3 2024 earnings estimates for shares of Genuine Parts in a research note issued to investors on Tuesday, August 6th. Zacks Research analyst R. Department now forecasts that the specialty retailer will post earnings of $2.45 per share for the quarter, down from their prior forecast of $2.67. The consensus estimate for Genuine Parts’ current full-year earnings is $9.36 per share. Zacks Research also issued estimates for Genuine Parts’ Q4 2024 earnings at $2.27 EPS, FY2024 earnings at $9.39 EPS, Q1 2025 earnings at $2.29 EPS, Q2 2025 earnings at $2.67 EPS, Q3 2025 earnings at $2.57 EPS, Q4 2025 earnings at $2.48 EPS, FY2025 earnings at $10.01 EPS, Q1 2026 earnings at $2.43 EPS, Q2 2026 earnings at $2.88 EPS and FY2026 earnings at $10.81 EPS.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 earnings per share.

Several other research firms have also commented on GPC. The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Evercore ISI dropped their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Wedbush dropped their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group increased their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, Truist Financial lowered their price target on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average price target of $161.14.

Genuine Parts Price Performance

Shares of GPC opened at $138.49 on Wednesday. The company has a 50 day moving average price of $139.62 and a 200-day moving average price of $146.47. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The stock has a market capitalization of $19.29 billion, a PE ratio of 15.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Hedge Funds Weigh In On Genuine Parts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPC. Allworth Financial LP raised its position in shares of Genuine Parts by 3.4% in the fourth quarter. Allworth Financial LP now owns 4,039 shares of the specialty retailer’s stock valued at $559,000 after buying an additional 134 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Genuine Parts by 8.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 4,549 shares of the specialty retailer’s stock valued at $630,000 after buying an additional 358 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Genuine Parts by 21.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 51,242 shares of the specialty retailer’s stock valued at $7,045,000 after buying an additional 9,183 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Genuine Parts by 19.2% in the fourth quarter. Bleakley Financial Group LLC now owns 4,509 shares of the specialty retailer’s stock valued at $624,000 after buying an additional 726 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Genuine Parts by 10.3% in the fourth quarter. International Assets Investment Management LLC now owns 5,148 shares of the specialty retailer’s stock valued at $713,000 after buying an additional 480 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.