Genuine Parts (NYSE:GPC) Issues FY24 Earnings Guidance

Genuine Parts (NYSE:GPC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $8.00-$8.20 for the period, compared to the consensus estimate of $9.35. The company issued revenue guidance of $23.33-$23.56 billion, compared to the consensus revenue estimate of $23.46 billion. Genuine Parts also updated its FY 2024 guidance to 8.000-8.200 EPS.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial dropped their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $113.11 on Friday. The firm has a 50-day simple moving average of $137.72 and a 200-day simple moving average of $142.43. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $15.76 billion, a price-to-earnings ratio of 12.61 and a beta of 0.90. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.49 EPS. On average, equities analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.