Zacks: Brokerages Anticipate Group 1 Automotive, Inc. (GPI) Will Announce Quarterly Sales of $2.62 Billion

Equities analysts expect Group 1 Automotive, Inc. (NYSE:GPI) to report $2.62 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Group 1 Automotive’s earnings, with the highest sales estimate coming in at $2.65 billion and the lowest estimate coming in at $2.60 billion. Group 1 Automotive posted sales of $2.52 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Group 1 Automotive will report full-year sales of $11.40 billion for the current year, with estimates ranging from $11.35 billion to $11.45 billion. For the next year, analysts forecast that the business will post sales of $11.49 billion per share, with estimates ranging from $11.02 billion to $11.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Group 1 Automotive.

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Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.24. Group 1 Automotive had a net margin of 1.89% and a return on equity of 15.85%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the company earned $1.74 EPS. Group 1 Automotive’s quarterly revenue was up 9.2% on a year-over-year basis.

A number of equities research analysts recently issued reports on GPI shares. Buckingham Research upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Friday, January 5th. Bank of America raised their price objective on Group 1 Automotive from $103.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 9th. ValuEngine lowered Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Zacks Investment Research lowered Group 1 Automotive from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 22nd. Finally, Stephens restated a “hold” rating and issued a $86.00 price objective on shares of Group 1 Automotive in a report on Wednesday, March 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Group 1 Automotive presently has an average rating of “Hold” and a consensus price target of $82.88.

In other Group 1 Automotive news, CEO Earl J. Hesterberg sold 28,519 shares of Group 1 Automotive stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $80.06, for a total value of $2,283,231.14. Following the completion of the transaction, the chief executive officer now directly owns 108,440 shares of the company’s stock, valued at approximately $8,681,706.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.08% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Group 1 Automotive by 5.5% during the fourth quarter. BlackRock Inc. now owns 2,606,030 shares of the company’s stock worth $184,949,000 after buying an additional 135,710 shares in the last quarter. LSV Asset Management grew its position in shares of Group 1 Automotive by 1.0% during the fourth quarter. LSV Asset Management now owns 646,844 shares of the company’s stock worth $45,906,000 after buying an additional 6,200 shares in the last quarter. Towle & Co. grew its position in shares of Group 1 Automotive by 1.5% during the fourth quarter. Towle & Co. now owns 344,779 shares of the company’s stock worth $24,469,000 after buying an additional 5,030 shares in the last quarter. Millennium Management LLC grew its position in shares of Group 1 Automotive by 158.5% during the fourth quarter. Millennium Management LLC now owns 312,699 shares of the company’s stock worth $22,192,000 after buying an additional 191,709 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Group 1 Automotive by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 296,870 shares of the company’s stock worth $21,070,000 after buying an additional 1,445 shares in the last quarter. 97.57% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE GPI opened at $61.46 on Friday. The company has a market cap of $1,292.96, a PE ratio of 7.95, a PEG ratio of 1.00 and a beta of 1.75. Group 1 Automotive has a 12 month low of $51.62 and a 12 month high of $84.47. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.26 and a current ratio of 1.06.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were issued a $0.26 dividend. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 1.69%. The ex-dividend date was Wednesday, February 28th. Group 1 Automotive’s payout ratio is 13.45%.

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Group 1 Automotive Company Profile

Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.

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