Genuine Parts Hits New 52-Week High - Analyst Blog
02 4월 2013 - 3:06AM
Zacks
Shares of Genuine Parts Company (GPC) reached
52-week high of $78.12 on Mar 28. Shares of the company have been
escalating following its impressive fourth quarter results,
increase in dividend payment and recent acquisition of Exego Group
– a leading aftermarket distributor of automotive replacement parts
and accessories in Australasia.
Genuine Parts has undertaken various initiatives to boost sales and
earnings, such as product line expansion, penetration into new
markets and cost-saving activities. The company relies on a diverse
product portfolio for top-line and bottom-line growth. It has a
market cap of $12.1 billion.
Genuine Parts revealed a 19.8% rise in earnings to $1.03 per share
in the fourth quarter of 2012 from 86 cents in the corresponding
quarter of 2011, beating the Zacks Consensus Estimate by 10 cents.
Net income increased 18.7% to $160.2 million from $135.0 million in
2011.
Revenues went up 3.5% to $3.1 billion, which compared with the
Zacks Consensus Estimate of $3.2 billion. The increase in revenues
was driven by respectable sales growth in three of the company’s
four businesses.
Genuine Parts also announced an increase in its annual dividend
payment, making 2013 the 57th consecutive year of increased
dividends paid to shareholders. The company’s Board of Directors
announced an 8.6% increase in cash dividend to an annual rate of
$2.15 per share compared with the previous dividend of $1.98 per
share.
Last month, Genuine Parts revealed that it will acquire the
remaining 70% stake of Exego Group for $800 million that includes
the assumption of certain debt. On Jan 1, 2012, Genuine Parts
Company acquired a 30% stake in Exego and held the option to
acquire the remaining shares of the company later.
Formed in 1922 and headquartered in Melbourne, Australia, Exego
Group has annual revenues of more than $1 billion. It owns stores
at more than 430 locations across Australia and New Zealand.
Genuine Parts Company believes the acquisition will help the
company enjoy significant growth opportunities in the Australasian
aftermarket.
Currently, Genuine Parts Company retains a Zacks Rank #2 (Buy).
Apart from Genuine Parts, other stocks from the same industry that
warrant a look include Visteon Corp. (VC),
Douglas Dynamics, Inc. (PLOW) and Standard
Motor Products Inc. (SMP). Visteon carries a Zacks Rank #1
(Strong Buy) while the remaining two stocks carry a Zacks Rank #2
(Buy).
GENUINE PARTS (GPC): Free Stock Analysis Report
DOUGLAS DYNAMIC (PLOW): Free Stock Analysis Report
STANDARD MOTOR (SMP): Free Stock Analysis Report
VISTEON CORP (VC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Genuine Parts (NYSE:GPC)
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부터 6월(6) 2024 으로 7월(7) 2024
Genuine Parts (NYSE:GPC)
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부터 7월(7) 2023 으로 7월(7) 2024