Analysts Anticipate Group 1 Automotive, Inc. (NYSE:GPI) Will Post Quarterly Sales of $2.91 Billion

Wall Street analysts expect Group 1 Automotive, Inc. (NYSE:GPI) to report $2.91 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Group 1 Automotive’s earnings. The lowest sales estimate is $2.88 billion and the highest is $2.94 billion. Group 1 Automotive reported sales of $2.94 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 1%. The firm is scheduled to issue its next quarterly earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Group 1 Automotive will report full year sales of $11.42 billion for the current financial year, with estimates ranging from $11.35 billion to $11.55 billion. For the next year, analysts anticipate that the business will post sales of $11.44 billion, with estimates ranging from $11.17 billion to $11.63 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Group 1 Automotive.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Thursday, April 25th. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.25. Group 1 Automotive had a net margin of 1.38% and a return on equity of 15.56%. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the business earned $1.70 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis.

GPI has been the topic of several research reports. Goldman Sachs Group upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $77.00 in a research report on Monday, March 4th. JPMorgan Chase & Co. initiated coverage on shares of Group 1 Automotive in a research report on Tuesday, February 19th. They issued an “overweight” rating and a $77.00 price target on the stock. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $67.00 to $94.00 in a research report on Monday, May 6th. Zacks Investment Research upgraded shares of Group 1 Automotive from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Tuesday, April 16th. Finally, Buckingham Research cut shares of Group 1 Automotive from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $72.00 to $83.00 in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $84.00.

Group 1 Automotive stock traded down $0.46 during midday trading on Friday, hitting $77.34. The company’s stock had a trading volume of 129,700 shares, compared to its average volume of 158,284. The company has a current ratio of 1.00, a quick ratio of 0.23 and a debt-to-equity ratio of 1.30. Group 1 Automotive has a 12 month low of $48.69 and a 12 month high of $81.65. The stock has a market cap of $1.44 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.53 and a beta of 1.78.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.26 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.04 dividend on an annualized basis and a yield of 1.34%. Group 1 Automotive’s dividend payout ratio is currently 11.67%.

Group 1 Automotive declared that its Board of Directors has authorized a share buyback program on Thursday, February 21st that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

In related news, insider Michael David Jones sold 2,500 shares of Group 1 Automotive stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $77.76, for a total value of $194,400.00. Following the transaction, the insider now owns 13,921 shares of the company’s stock, valued at approximately $1,082,496.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of GPI. GYL Financial Synergies LLC purchased a new position in Group 1 Automotive during the 1st quarter valued at about $1,099,000. Nordea Investment Management AB grew its stake in shares of Group 1 Automotive by 3.1% in the 1st quarter. Nordea Investment Management AB now owns 57,300 shares of the company’s stock valued at $3,707,000 after buying an additional 1,700 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Group 1 Automotive in the 1st quarter valued at approximately $232,000. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Group 1 Automotive by 10.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 264,768 shares of the company’s stock valued at $17,130,000 after buying an additional 24,350 shares in the last quarter. Finally, Eminence Capital LP grew its stake in shares of Group 1 Automotive by 1.1% in the 1st quarter. Eminence Capital LP now owns 1,129,691 shares of the company’s stock valued at $73,091,000 after buying an additional 11,811 shares in the last quarter. 99.96% of the stock is currently owned by hedge funds and other institutional investors.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.

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Earnings History and Estimates for Group 1 Automotive (NYSE:GPI)

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