Seaport Res Ptn Has Pessimistic Outlook of GPI Q4 Earnings

Group 1 Automotive, Inc. (NYSE:GPI - Free Report) - Equities research analysts at Seaport Res Ptn decreased their Q4 2024 earnings per share (EPS) estimates for Group 1 Automotive in a note issued to investors on Thursday, November 21st. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $9.22 per share for the quarter, down from their previous forecast of $9.25. The consensus estimate for Group 1 Automotive's current full-year earnings is $38.37 per share.

Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping the consensus estimate of $9.87 by $0.03. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $12.07 earnings per share.

GPI has been the subject of a number of other research reports. Guggenheim raised their price objective on Group 1 Automotive from $420.00 to $442.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. StockNews.com raised Group 1 Automotive from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Morgan Stanley upgraded 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 report on Wednesday, September 25th. Finally, Stephens started 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $425.20.

Group 1 Automotive Price Performance

Shares of GPI traded up $12.60 during trading hours on Monday, reaching $433.74. 216,231 shares of the stock traded hands, compared to its average volume of 135,626. Group 1 Automotive has a 52-week low of $255.73 and a 52-week high of $440.32. The company's 50-day moving average price is $377.50 and its two-hundred day moving average price is $342.90. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91. The company has a market cap of $5.78 billion, a P/E ratio of 11.54 and a beta of 1.33.

Institutional Investors Weigh In On Group 1 Automotive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC bought a new position in Group 1 Automotive in the 3rd quarter worth about $272,000. Coldstream Capital Management Inc. grew its stake in Group 1 Automotive by 8.2% in the third quarter. Coldstream Capital Management Inc. now owns 1,314 shares of the company's stock worth $504,000 after purchasing an additional 100 shares in the last quarter. Geode Capital Management LLC increased its holdings in Group 1 Automotive by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 305,602 shares of the company's stock worth $117,080,000 after purchasing an additional 1,985 shares during the period. Barclays PLC lifted 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 buying an additional 39,982 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Group 1 Automotive by 20.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 264 shares of the company's stock valued at $101,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 99.92% of the company's stock.

Insider Buying and Selling

In other news, VP Edward Mckissic sold 79 shares of Group 1 Automotive stock in a transaction on 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 sale, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Group 1 Automotive announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Group 1 Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.43%. Group 1 Automotive's dividend payout ratio is presently 5.01%.

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.