Genuine Parts Company (GPC) Releases Earnings Results, Beats Expectations By $0.02 EPS

Genuine Parts Company (GPC) reported quarterly earnings results on Tuesday, Apr-19-2016. The company said it had a profit of $1.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.03. The company posted revenue of $3718.30 million in the period, compared to analysts expectations of $3719.75 million. The company’s revenue was down -.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.

Many Wall Street Analysts have commented on Genuine Parts Company. Genuine Parts Company was Downgraded by Sterne Agee CRT to ” Neutral” on Apr 4, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 17, 2016 to “Sector Perform” and Lowered the Price Target to $ 90 from a previous price target of $92 .Shares were Downgraded by Wedbush on Feb 17, 2016 to ” Neutral” and Lowered the Price Target to $ 91 from a previous price target of $93 .

Genuine Parts Company opened for trading at $98.95 and hit $99.83 on the upside on Monday, eventually ending the session at $99.83, with a gain of 0.43% or 0.43 points. The heightened volatility saw the trading volume jump to 10,11,247 shares. Company has a market cap of $14,926 M.

In a different news, on Feb 19, 2016, Wendy B Needham (director) sold 3,000 shares at $90.61 per share price. According to the SEC, on Nov 13, 2015, Thomas Gallagher (CEO) purchased 3,000 shares at $86.86 per share price. On Sep 30, 2015, Robert C Jr Loudermilk (director) purchased 1,200 shares at $82.55 per share price, according to the Form-4 filing with the securities and exchange commission.

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts industrial replacement parts office products and electrical/electronic materials. The Company operates through four segments: Automotive Parts Group which distributes automotive parts and accessory items; Industrial Parts Group which distributes industrial replacement parts and related supplies; Office Products Group which is engaged in the wholesale distribution of a line of office and other business related products and Electrical/Electronic Materials Group which distributes materials to more than 20000 electrical and electronic manufacturers as well as industrial assembly and specialty wire and cable markets in North America. In 2014 the Company’s business was conducted from approximately 2600 locations throughout the United States Canada Mexico Australia and New Zealand.

Genuine Parts Company

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