What is Zacks Research’s Estimate for GPI FY2024 Earnings?

Group 1 Automotive, Inc. (NYSE:GPI) – Research analysts at Zacks Research boosted their FY2024 earnings per share estimates for shares of Group 1 Automotive in a report released on Wednesday, November 13th. Zacks Research analyst L. Shahu now expects that the company will earn $38.50 per share for the year, up from their previous forecast of $38.27. The consensus estimate for Group 1 Automotive’s current full-year earnings is $38.60 per share. Zacks Research also issued estimates for Group 1 Automotive’s Q4 2024 earnings at $9.31 EPS, Q1 2025 earnings at $9.61 EPS, Q2 2025 earnings at $10.25 EPS, Q4 2025 earnings at $9.90 EPS and FY2026 earnings at $41.99 EPS.

Other analysts also recently issued reports about the company. Stephens started 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 for the company. JPMorgan Chase & Co. raised their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Bank of America lowered their target price on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. Finally, StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $397.80.

Group 1 Automotive Price Performance

Shares of GPI opened at $414.81 on Friday. The stock has a market cap of $5.53 billion, a P/E ratio of 11.05, a P/E/G ratio of 2.15 and a beta of 1.33. The business’s fifty day moving average is $371.84 and its 200 day moving average is $338.70. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. Group 1 Automotive has a 12-month low of $255.73 and a 12-month high of $422.28.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating the consensus estimate of $9.87 by $0.03. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $12.07 EPS.

Group 1 Automotive announced that its board has initiated a stock repurchase plan on Tuesday, November 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 9.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Group 1 Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.47 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.88 dividend on an annualized basis and a yield of 0.45%. Group 1 Automotive’s dividend payout ratio is 5.01%.

Insiders Place Their Bets

In other news, VP Edward Mckissic sold 79 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the transaction, the vice president now owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. The trade was a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

A number of institutional investors have recently made changes to their positions in GPI. Geode Capital Management LLC grew its position in Group 1 Automotive by 0.7% in the third quarter. Geode Capital Management LLC now owns 305,602 shares of the company’s stock worth $117,080,000 after acquiring an additional 1,985 shares in the last quarter. Barclays PLC boosted its holdings in shares of Group 1 Automotive by 244.7% in the 3rd quarter. Barclays PLC now owns 56,319 shares of the company’s stock worth $21,573,000 after purchasing an additional 39,982 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Group 1 Automotive by 20.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 264 shares of the company’s stock valued at $101,000 after purchasing an additional 44 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Group 1 Automotive by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 6,328 shares of the company’s stock valued at $2,424,000 after buying an additional 437 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its position in Group 1 Automotive by 1.3% in the 3rd quarter. Hodges Capital Management Inc. now owns 21,960 shares of the company’s stock worth $8,412,000 after buying an additional 289 shares during the last quarter. Institutional investors own 99.92% 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.