Group 1 Automotive, Inc. (NYSE:GPI) declared a quarterly dividend on Tuesday, February 18th, Zacks reports. Shareholders of record on Monday, March 2nd will be given a dividend of 0.30 per share on Monday, March 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, February 28th. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.29.
Group 1 Automotive has raised its dividend by an average of 7.4% per year over the last three years and has increased its dividend every year for the last 10 years. Group 1 Automotive has a payout ratio of 10.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Group 1 Automotive to earn $13.44 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 8.9%.
GPI opened at $93.65 on Thursday. Group 1 Automotive has a fifty-two week low of $59.77 and a fifty-two week high of $110.11. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.25 and a current ratio of 1.04. The company has a market capitalization of $1.85 billion, a P/E ratio of 10.04, a P/E/G ratio of 2.48 and a beta of 1.71. The stock has a fifty day moving average of $100.55 and a 200-day moving average of $94.73.
Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, February 5th. The company reported $3.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. Group 1 Automotive had a return on equity of 17.00% and a net margin of 1.43%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Group 1 Automotive will post 11.48 earnings per share for the current fiscal year.
In related news, CEO Earl J. Hesterberg sold 5,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $106.71, for a total value of $533,550.00. Following the completion of the transaction, the chief executive officer now owns 145,575 shares of the company’s stock, valued at $15,534,308.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lincoln Pereira sold 30,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $103.63, for a total value of $3,108,900.00. In the last ninety days, insiders sold 50,000 shares of company stock valued at $5,156,850. 6.00% of the stock is owned by insiders.
GPI has been the subject of a number of research reports. Stephens lifted their target price on Group 1 Automotive from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Benchmark initiated coverage on Group 1 Automotive in a report on Thursday, January 9th. They set a “buy” rating and a $127.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Group 1 Automotive from $107.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley boosted their price target on Group 1 Automotive from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, ValuEngine downgraded Group 1 Automotive from a “sell” rating to a “strong sell” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Group 1 Automotive presently has an average rating of “Buy” and an average target price of $110.71.
About Group 1 Automotive
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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