Genuine Parts Company (GPC) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Genuine Parts Company (GPC) reported quarterly earnings results on Tuesday, Jul-19-2016. The company reported $1.28 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $1.29. The company posted revenue of $3899.60 million in the period, compared to analysts expectations of $3975.85 million. The company’s revenue was down -1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS.

Many Wall Street Analysts have commented on Genuine Parts Company. Genuine Parts Company was Downgraded by Jefferies to ” Hold” on Jul 15, 2016. Gabelli & Co Downgraded Genuine Parts Company on Jul 14, 2016 to ” Hold”, Price Target of the shares are set at $106.

Genuine Parts Company closed down -0.98 points or -0.95% at $101.98 with 9,06,709 shares getting traded on Monday. Post opening the session at $102.84, the shares hit an intraday low of $101.75 and an intraday high of $102.94 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 9, 2016, Timothy P Breen (Executive Vice President) sold 700 shares at $98.05 per share price. According to the SEC, on Feb 19, 2016, Wendy B Needham (director) sold 3,000 shares at $90.61 per share price. On Nov 13, 2015, Thomas Gallagher (CEO) purchased 3,000 shares at $86.86 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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