Group 1 Automotive (NYSE:GPI) Releases Earnings Results, Beats Estimates By $0.03 EPS

Group 1 Automotive (NYSE:GPI) issued its quarterly earnings data on Wednesday. The company reported $9.90 earnings per share for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03, Briefing.com reports. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.83%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $12.07 earnings per share.

Group 1 Automotive Stock Performance

NYSE:GPI traded down $1.98 during midday trading on Friday, reaching $362.34. The stock had a trading volume of 136,270 shares, compared to its average volume of 134,789. The stock has a market capitalization of $4.86 billion, a P/E ratio of 9.65, a PEG ratio of 1.93 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.02 and a quick ratio of 0.26. Group 1 Automotive has a 1-year low of $255.73 and a 1-year high of $393.93. The firm’s fifty day simple moving average is $365.24 and its 200-day simple moving average is $330.02.

Group 1 Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Friday, August 30th. Group 1 Automotive’s payout ratio is currently 5.01%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GPI shares. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Thursday. Stephens began coverage on Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective on the stock. Bank of America lowered their target price on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Finally, Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $396.80.

Insider Buying and Selling at Group 1 Automotive

In other news, VP Michael David Jones sold 1,200 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the completion of the sale, the vice president now directly owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

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.