Genuine Parts (NYSE:GPC) Plans Quarterly Dividend of $1.00

Genuine Parts (NYSE:GPC) announced a quarterly dividend on Tuesday, November 19th,RTT News reports. Investors of record on Friday, December 6th will be given a dividend of 1.00 per share by the specialty retailer on Thursday, January 2nd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Friday, December 6th.

Genuine Parts has increased its dividend by an average of 6.3% per year over the last three years and has increased its dividend every year for the last 69 years. Genuine Parts has a payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Genuine Parts to earn $8.29 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 48.3%.

Genuine Parts Trading Down 0.4 %

Genuine Parts stock opened at $120.76 on Thursday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm’s 50 day moving average price is $129.96 and its two-hundred day moving average price is $137.71. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 15.54 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period last year, the firm earned $2.49 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GPC. Truist Financial dropped their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group lowered their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.