Q1 2024 Earnings Forecast for Group 1 Automotive, Inc. Issued By Seaport Res Ptn (NYSE:GPI)

Group 1 Automotive, Inc. (NYSE:GPI) – Investment analysts at Seaport Res Ptn cut their Q1 2024 earnings per share (EPS) estimates for Group 1 Automotive in a research note issued on Friday, April 19th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings per share of $9.40 for the quarter, down from their prior forecast of $9.49. The consensus estimate for Group 1 Automotive’s current full-year earnings is $39.45 per share. Seaport Res Ptn also issued estimates for Group 1 Automotive’s Q2 2024 earnings at $10.55 EPS, Q3 2024 earnings at $10.32 EPS, Q4 2024 earnings at $9.58 EPS and FY2025 earnings at $39.17 EPS.

Other analysts have also issued research reports about the company. Stephens reiterated an “overweight” rating and issued a $330.00 target price on shares of Group 1 Automotive in a research note on Tuesday, February 13th. Guggenheim upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 target price on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reduced their target price on Group 1 Automotive from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley upgraded Group 1 Automotive from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $200.00 to $255.00 in a research note on Thursday, February 29th. Finally, StockNews.com lowered Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $331.67.

Group 1 Automotive Stock Performance

GPI stock opened at $279.54 on Monday. The company has a quick ratio of 0.33, a current ratio of 1.11 and a debt-to-equity ratio of 0.74. The business’s fifty day simple moving average is $271.75 and its two-hundred day simple moving average is $274.03. Group 1 Automotive has a twelve month low of $214.25 and a twelve month high of $310.08. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 6.56, a PEG ratio of 1.34 and a beta of 1.42.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $9.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.44 by ($0.94). The company had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.41 billion. Group 1 Automotive had a return on equity of 24.36% and a net margin of 3.34%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.86 earnings per share.

Group 1 Automotive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.47 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.88 annualized dividend and a dividend yield of 0.67%. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.45. Group 1 Automotive’s dividend payout ratio (DPR) is currently 4.41%.

Hedge Funds Weigh In On Group 1 Automotive

Several institutional investors have recently made changes to their positions in the company. Raymond James & Associates increased its stake in shares of Group 1 Automotive by 33.5% during the first quarter. Raymond James & Associates now owns 37,446 shares of the company’s stock valued at $10,943,000 after buying an additional 9,394 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in Group 1 Automotive during the first quarter valued at about $247,000. Allspring Global Investments Holdings LLC boosted its position in Group 1 Automotive by 5.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,808 shares of the company’s stock valued at $528,000 after purchasing an additional 96 shares in the last quarter. Hennessy Advisors Inc. boosted its position in Group 1 Automotive by 14.0% during the first quarter. Hennessy Advisors Inc. now owns 91,900 shares of the company’s stock valued at $26,856,000 after purchasing an additional 11,300 shares in the last quarter. Finally, Range Financial Group LLC boosted its position in Group 1 Automotive by 7.8% during the first quarter. Range Financial Group LLC now owns 4,020 shares of the company’s stock valued at $1,175,000 after purchasing an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

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.