In its upcoming report, Genuine Parts (GPC) is predicted by Wall Street analysts to post quarterly earnings of $1.54 per share, reflecting a decline of 31.9% compared to the same period last year. Revenues are forecasted to be $5.69 billion, representing a year-over-year increase of 1.9%.
The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Genuine Parts metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Net Sales- Automotive' should arrive at $3.61 billion. The estimate points to a change of +4.4% from the year-ago quarter.
Analysts predict that the 'Net Sales- Industrial' will reach $2.09 billion. The estimate indicates a year-over-year change of -1.7%.
The combined assessment of analysts suggests that 'Operating profit- Industrial' will likely reach $245.97 million. Compared to the present estimate, the company reported $274.67 million in the same quarter last year.
Analysts' assessment points toward 'Operating profit- Automotive' reaching $234.59 million. Compared to the current estimate, the company reported $259.11 million in the same quarter of the previous year.
View all Key Company Metrics for Genuine Parts here>>>
Shares of Genuine Parts have experienced a change of +4.2% in the past month compared to the +3.9% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), GPC is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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