Earnings

Noticeable Earnings: Genuine Parts Company (NYSE:GPC)

Genuine Parts Company (NYSE:GPC) on July 19, 2016 announced sales and earnings for the second quarter and six months ended June 30, 2016.

Sales for the second quarter ended June 30, 2016 were $3.90 billion compared to $3.94 billion for the same period in 2015.  Net income for the second quarter was $191.4 million compared to $195.4 million recorded for the same period in the previous year.  Earnings per share on a diluted basis were $1.28, equal to the earnings per share for the second quarter last year.

Paul Donahue, President and Chief Executive Officer, commented, “Total sales in the second quarter were down 1% from the prior year, inclusive of a 2% contribution from acquisitions less a currency headwind of 1%.  Sales for the Automotive Group were down 0.7%, consisting of a 1% core sales decline, a 1.5% currency headwind and an approximate 2% contribution from acquisitions.  Sales at Motion Industries, our Industrial Group, were down 1.7%, including a 3% underlying sales decrease and an approximate 0.5% currency headwind, offset by a 2% benefit from acquisitions.  Sales at EIS, our Electrical/Electronic Group, were down approximately 5%, including a 1% negative impact of copper pricing.  Sales for S. P. Richards, our Office Products Group, were up 1%, consisting of a 5% contribution from acquisitions offset by a 4% underlying sales decrease.”

Sales for the six months ended June 30, 2016 were $7.62 billion compared to $7.68 billion for the same period in 2015.  Net income for the six months was $349.4 million, down 2% from 2015, and earnings per share on a diluted basis were $2.33, equal to the same six month period of the prior year.

2016 Outlook

For the full year 2016, the Company is maintaining its guidance for 1% to 2% total sales growth and is updating diluted earnings per share to $4.70 to $4.75 from $4.70 to $4.80.

Shares of Genuine Parts Company (NYSE:GPC) fell -2.20% to reach at $99.74 during the course of session. The company has experienced volume of M shares while on average the company has a capacity of trading 634,386.00 shares. The stock holds the market capitalization of $14.78B along with 149.62M outstanding shares. The stock traded in the price range of $98.33 – $101.232 for the last trading session. For the stock price target value has been calculated at $96.80 based on calls of 5 experts. Stock’s minimum price target estimates has been figured out at $92.00 while the maximum price target forecast is established at $105.00.

Genuine Parts Company (NYSE:GPC) as of current trade, has shown weekly downbeat performance of -5.17%. Its six months performance indicated a bullish movement while its yearly performance reflected a positive trend of 15.53%. Year-to-date (YTD) performance of the stock illustrate upbeat trend of 17.75%. Shares of Genuine Parts Company (NYSE:GPC) currently have an ABR of 2.89, derived from a total of 9 opinions. The company’s price sits 1.88% above from its 50-day moving average of $99.20 and 9.87% above from the stock’s 200-day moving average of $93.77. The company has Relative Strength Index (RSI 14) of 48.22 along with Average True Range (ATR 14) of 1.71. Its weekly and monthly volatility is 1.66%, 1.53% respectively. The company’s beta value is at 0.86.

Genuine Parts Company (NYSE:GPC)’s price to sales ratio for trailing twelve months is 0.99 and price to book ratio for most recent quarter is 4.62, whereas price to cash per share for the most recent quarter is 73.38. The company’s price to free cash flow for trailing twelve months is 21.68. Its quick ratio for most recent quarter is 0.60 along with current ratio for most recent quarter of 1.40. Total debt to equity ratio of the company for most recent quarter is 0.22 whereas long term debt to equity ratio for most recent quarter is 0.08. The company has a Return on Assets of 8.50%. The company currently has a Return on Equity of 22.00% and Return on Investment of 18.50%.

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