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

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

Genuine Parts has increased its dividend by an average of 6.3% annually over the last three years and has increased its dividend annually for the last 69 consecutive years. Genuine Parts has a dividend payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 0.2 %

NYSE:GPC traded down $0.26 during trading hours on Wednesday, hitting $121.00. The company’s stock had a trading volume of 57,087 shares, compared to its average volume of 1,052,600. The stock has a market capitalization of $16.82 billion, a P/E ratio of 15.61 and a beta of 0.92. The stock has a fifty day moving average of $130.25 and a 200-day moving average of $137.83. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly 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 analysts’ expectations of $5.94 billion. During the same period in the prior year, the business earned $2.49 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that Genuine Parts will post 8.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GPC has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Wedbush reduced their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.