Genuine Parts (NYSE:GPC) Releases FY19 Earnings Guidance

Genuine Parts (NYSE:GPC) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.60-5.68 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.69. The company issued revenue guidance of approx $19.39 billion, compared to the consensus revenue estimate of $19.59 billion.Genuine Parts also updated its FY 2019 guidance to $5.44-5.52 EPS.

Shares of GPC stock traded down $0.27 during trading hours on Friday, hitting $106.15. 534,603 shares of the company were exchanged, compared to its average volume of 818,828. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 1.26. Genuine Parts has a one year low of $87.26 and a one year high of $115.20. The business’s 50-day simple moving average is $99.92 and its two-hundred day simple moving average is $98.64. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 3.56 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, October 17th. The specialty retailer reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. Genuine Parts had a net margin of 4.14% and a return on equity of 23.20%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the company posted $1.48 earnings per share. Genuine Parts’s revenue was up 6.2% on a year-over-year basis. As a group, analysts anticipate that Genuine Parts will post 5.66 EPS for the current fiscal year.

A number of equities analysts have issued reports on the stock. Raymond James assumed coverage on shares of Genuine Parts in a report on Monday, October 7th. They issued a market perform rating on the stock. Bank of America lifted their price target on Genuine Parts from $100.00 to $105.00 and gave the company a neutral rating in a report on Thursday, September 12th. Zacks Investment Research raised Genuine Parts from a sell rating to a hold rating and set a $103.00 price target on the stock in a report on Wednesday, July 24th. Royal Bank of Canada set a $99.00 price target on Genuine Parts and gave the company a hold rating in a report on Friday, October 18th. Finally, Goldman Sachs Group cut Genuine Parts from a neutral rating to a sell rating and cut their price target for the company from $101.00 to $93.00 in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $103.75.

In related news, insider Randall P. Breaux sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $107.22, for a total transaction of $107,220.00. Following the transaction, the insider now owns 2,188 shares in the company, valued at $234,597.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is owned by company insiders.

About Genuine Parts

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Earnings History and Estimates for Genuine Parts (NYSE:GPC)

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