Group 1 Automotive (NYSE:GPI) Announces Quarterly Earnings Results

Group 1 Automotive (NYSE:GPI) posted its earnings results on Wednesday. The company reported $9.80 EPS for the quarter, topping the consensus estimate of $9.36 by $0.44, Yahoo Finance reports. Group 1 Automotive had a net margin of 3.23% and a return on equity of 22.45%. The company had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the previous year, the firm posted $11.73 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis.

Group 1 Automotive Stock Performance

Shares of Group 1 Automotive stock traded up $11.44 during trading hours on Thursday, hitting $337.15. 219,500 shares of the company’s stock traded hands, compared to its average volume of 135,400. The company has a fifty day simple moving average of $303.34 and a 200-day simple moving average of $286.69. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.04 and a quick ratio of 0.27. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 1.58 and a beta of 1.35. Group 1 Automotive has a 12-month low of $228.84 and a 12-month high of $338.00.

Group 1 Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 0.56%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 4.44%.

Insider Buying and Selling

In other Group 1 Automotive news, VP Michael David Jones sold 1,400 shares of Group 1 Automotive stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $294.63, for a total value of $412,482.00. Following the sale, the vice president now owns 11,535 shares of the company’s stock, valued at $3,398,557.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Group 1 Automotive news, VP Michael David Jones sold 1,400 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $294.63, for a total value of $412,482.00. Following the completion of the sale, the vice president now directly owns 11,535 shares of the company’s stock, valued at $3,398,557.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel James Mchenry sold 2,437 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $309.61, for a total value of $754,519.57. Following the transaction, the chief financial officer now directly owns 22,430 shares in the company, valued at approximately $6,944,552.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,007 shares of company stock valued at $1,221,218. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GPI. Guggenheim raised Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price objective for the company in a report on Wednesday, April 17th. Bank of America decreased their price target on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Group 1 Automotive from $315.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $329.17.

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.