Auto and industrial parts retailer Genuine Parts (NYSE:GPC) will be reporting results tomorrow morning. Here's what to expect.
Last quarter Genuine Parts reported revenues of $5.92 billion, up 5.58% year on year, missing analyst expectations by 0.74%. It was a weak quarter for the company, with a miss of analysts' gross margin estimates and a miss of revenue estimates.
Is Genuine Parts buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Genuine Parts's revenue to grow 4.19% year on year to $5.91 billion, slowing down from the 17.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.42 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 3.21%.
There has been positive sentiment among investors in the automotive and marine retail segment, with the stocks up on average 2.17% over the last month. Genuine Parts is up 1.12% during the same time, and is heading into the earnings with with analyst price target of $171.6, compared to share price of $150.21.
The author has no position in any of the stocks mentioned.