Group 1 Automotive (NYSE:GPI) Posts Quarterly Earnings Results, Beats Estimates By $1.25 EPS

Group 1 Automotive (NYSE:GPI) posted its quarterly earnings results on Wednesday. The company reported $10.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.77 by $1.25, Zacks reports. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%.

Group 1 Automotive Price Performance

GPI stock traded down $11.74 during mid-day trading on Wednesday, hitting $447.07. The stock had a trading volume of 26,058 shares, compared to its average volume of 108,196. The firm has a fifty day simple moving average of $428.60 and a 200 day simple moving average of $384.80. Group 1 Automotive has a 52 week low of $255.73 and a 52 week high of $458.82. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $5.95 billion, a P/E ratio of 11.90 and a beta of 1.36.

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 2nd. Group 1 Automotive’s dividend payout ratio (DPR) is currently 5.01%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GPI shares. Guggenheim raised their target price on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. dropped their price target on Group 1 Automotive from $425.00 to $420.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Jefferies Financial Group began coverage on shares of Group 1 Automotive in a research report on Friday, December 13th. They set a “buy” rating and a $500.00 price objective for the company. Finally, StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $436.83.

Insider Buying and Selling at Group 1 Automotive

In other Group 1 Automotive news, Director Lincoln Pereira sold 6,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the sale, the director now owns 98,467 shares of the company’s stock, valued at approximately $42,013,899.56. The trade was a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Edward Mckissic sold 79 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the sale, the vice president now owns 6,259 shares in the company, valued at $2,340,928.59. This represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Group 1 Automotive declared that its Board of Directors has approved a share buyback program on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Group 1 Automotive Company Profile

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.