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

Group 1 Automotive (NYSE:GPI) issued its earnings results on Wednesday. The company reported $9.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.93 by ($0.03), Briefing.com reports. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $12.07 earnings per share.

Group 1 Automotive Price Performance

Shares of NYSE:GPI traded down $13.59 during trading on Thursday, reaching $364.32. 169,745 shares of the company’s stock traded hands, compared to its average volume of 134,603. Group 1 Automotive has a fifty-two week low of $246.02 and a fifty-two week high of $393.93. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80. The firm has a market cap of $4.93 billion, a PE ratio of 8.82, a P/E/G ratio of 1.76 and a beta of 1.32. The company has a 50-day simple moving average of $365.22 and a 200-day simple moving average of $329.12.

Group 1 Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 of this dividend was Friday, August 30th. Group 1 Automotive’s dividend payout ratio is currently 4.44%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, VP Michael David Jones sold 1,200 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $350.99, for a total transaction of $421,188.00. Following the sale, the vice president now directly owns 9,742 shares in the company, valued at $3,419,344.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

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.