Group 1 Automotive, Inc. (NYSE:GPI) - Investment analysts at Seaport Global Securities lifted their Q3 2018 earnings per share estimates for Group 1 Automotive in a research note issued to investors on Wednesday. Seaport Global Securities analyst M. Ward now anticipates that the company will earn $2.09 per share for the quarter, up from their previous forecast of $1.99.
Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research cut shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $66.00 price target (down previously from $75.00) on shares of Group 1 Automotive in a report on Monday, July 17th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.50.
TRADEMARK VIOLATION NOTICE: “Q3 2018 EPS Estimates for Group 1 Automotive, Inc. (NYSE:GPI) Lifted by Analyst” was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://stocknewstimes.com/2017/08/18/q3-2018-eps-estimates-for-group-1-automotive-inc-nysegpi-lifted-by-analyst-updated.html.
Group 1 Automotive (NYSE:GPI) opened at 57.53 on Monday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 8.88 and a beta of 1.62. Group 1 Automotive has a 1-year low of $55.06 and a 1-year high of $83.18. The company has a 50-day moving average of $61.41 and a 200-day moving average of $69.17.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by $0.12. Group 1 Automotive had a return on equity of 15.73% and a net margin of 1.26%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the business posted $2.16 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis.
Group 1 Automotive announced that its Board of Directors has approved a share repurchase plan on Friday, May 12th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Group 1 Automotive by 47,561.6% in the first quarter. BlackRock Inc. now owns 2,537,979 shares of the company’s stock worth $188,015,000 after buying an additional 2,532,654 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Group 1 Automotive by 25.5% in the first quarter. Vanguard Group Inc. now owns 2,153,519 shares of the company’s stock worth $159,532,000 after buying an additional 437,387 shares in the last quarter. Crescent Grove Advisors LLC purchased a new stake in shares of Group 1 Automotive during the second quarter worth approximately $21,536,000. LSV Asset Management boosted its stake in shares of Group 1 Automotive by 16.5% in the first quarter. LSV Asset Management now owns 644,844 shares of the company’s stock worth $47,770,000 after buying an additional 91,264 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Group 1 Automotive during the fourth quarter worth approximately $6,783,000. Institutional investors and hedge funds own 93.52% of the company’s stock.
About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
Receive News & Ratings for Group 1 Automotive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Group 1 Automotive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
