Group 1 Automotive (NYSE:GPI) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Group 1 Automotive (NYSE:GPI) announced its quarterly earnings data on Wednesday. The company reported $9.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.87 by $0.03, Briefing.com reports. Group 1 Automotive had a return on equity of 18.83% and a net margin of 2.68%. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period last year, the business posted $12.07 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year.

Group 1 Automotive Stock Down 0.6 %

Shares of NYSE:GPI opened at $362.16 on Friday. Group 1 Automotive has a 12-month low of $255.73 and a 12-month high of $393.93. The company has a fifty day simple moving average of $365.39 and a 200 day simple moving average of $329.37. The company has a current ratio of 1.02, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. The firm has a market cap of $4.85 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32.

Group 1 Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, August 30th. Group 1 Automotive’s dividend payout ratio (DPR) is presently 5.01%.

Insider Activity at Group 1 Automotive

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $350.99, for a total value of $421,188.00. Following the sale, the vice president now owns 9,742 shares in the company, valued at approximately $3,419,344.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

GPI has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. Stephens assumed coverage on shares of Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective on the stock. StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Bank of America dropped their target price on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $396.80.

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.