Group 1 Automotive, Inc. (GPI) To Go Ex-Dividend on December 2nd

Group 1 Automotive, Inc. (NYSE:GPI) announced a quarterly dividend on Tuesday, November 12th,RTT News reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.47 per share on Monday, December 16th. This represents a $1.88 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd.

Group 1 Automotive has increased its dividend payment by an average of 44.2% per year over the last three years. Group 1 Automotive has a payout ratio of 4.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Group 1 Automotive to earn $40.01 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 4.7%.

Group 1 Automotive Price Performance

Shares of GPI stock opened at $417.64 on Thursday. Group 1 Automotive has a twelve month low of $255.73 and a twelve month high of $421.09. 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 company has a market capitalization of $5.56 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 2.09 and a beta of 1.33. The firm has a fifty day simple moving average of $369.76 and a 200-day simple moving average of $337.08.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the prior year, the business posted $12.07 earnings per share. Group 1 Automotive’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Group 1 Automotive will post 38.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GPI. Bank of America dropped their target price on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. Stephens started coverage on shares of Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Two 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $397.80.

Group 1 Automotive declared that its board has approved a share buyback plan on Tuesday, November 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 9.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of Group 1 Automotive stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares in the company, valued at $2,340,928.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.