Research Analysts Offer Predictions for GPI Q3 Earnings

Group 1 Automotive, Inc. (NYSE:GPI - Free Report) - Research analysts at Seaport Res Ptn cut their Q3 2024 earnings estimates for shares of Group 1 Automotive in a note issued to investors on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now expects that the company will earn $9.82 per share for the quarter, down from their prior estimate of $10.39. The consensus estimate for Group 1 Automotive's current full-year earnings is $39.39 per share. Seaport Res Ptn also issued estimates for Group 1 Automotive's Q4 2024 earnings at $9.25 EPS, FY2024 earnings at $38.36 EPS and FY2025 earnings at $39.41 EPS.

Several other brokerages have also issued reports on GPI. JPMorgan Chase & Co. raised their price target on shares of Group 1 Automotive from $360.00 to $420.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. StockNews.com raised Group 1 Automotive from a "sell" rating to a "hold" rating in a report on Wednesday. Morgan Stanley raised shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $285.00 to $430.00 in a report on Wednesday, September 25th. Bank of America reduced 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 research note on Monday, July 22nd. Finally, Stephens initiated coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They set an "equal weight" rating and a $394.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Group 1 Automotive currently has a consensus rating of "Moderate Buy" and an average target price of $396.80.

Group 1 Automotive Stock Performance

Shares of NYSE:GPI traded up $4.09 during midday trading on Wednesday, reaching $348.78. The company had a trading volume of 124,247 shares, compared to its average volume of 133,537. The stock has a market cap of $4.72 billion, a P/E ratio of 8.14, a P/E/G ratio of 1.78 and a beta of 1.32. The company's 50 day moving average price is $364.83 and its 200 day moving average price is $326.09. The company has a current ratio of 1.02, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. Group 1 Automotive has a 52-week low of $228.84 and a 52-week high of $393.93.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $9.80 earnings per share for the quarter, topping the consensus estimate of $9.36 by $0.44. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. The business had revenue of $4.70 billion for the quarter, compared to analysts' expectations of $4.68 billion. During the same quarter in the previous year, the firm earned $11.73 earnings per share. The business's revenue was up 3.0% on a year-over-year basis.

Institutional Investors Weigh In On Group 1 Automotive

Several hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC grew its position in Group 1 Automotive by 53.7% in the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company's stock worth $43,000 after acquiring an additional 51 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Group 1 Automotive during the second quarter valued at about $48,000. EverSource Wealth Advisors LLC grew its stake in shares of Group 1 Automotive by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company's stock valued at $79,000 after buying an additional 39 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Group 1 Automotive by 47.5% in the 2nd quarter. Blue Trust Inc. now owns 270 shares of the company's stock valued at $79,000 after acquiring an additional 87 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Group 1 Automotive during the 3rd quarter valued at about $106,000. 99.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Group 1 Automotive

In related news, VP Michael David Jones sold 1,200 shares of the stock in a transaction 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 sale, the vice president now owns 9,742 shares in the company, valued at approximately $3,419,344.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

Group 1 Automotive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, August 30th. Group 1 Automotive's dividend payout ratio (DPR) is presently 4.44%.

About Group 1 Automotive

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.