Genuine Parts Surpasses EPS Consensus, Misses On Revenue: What Top Analysts Are Saying
Portfolio Pulse from Lekha Gupta
Genuine Parts Co (GPC) reported mixed Q2 2023 results, with sales growth of 5.6% Y/Y to $5.92 billion, missing the consensus of $5.96 billion, and adjusted EPS of $2.44 (+10.9% Y/Y) beating the consensus of $2.34. Following the results, analysts from Truist Securities, Stephens & Co., Wedbush, and JP Morgan lowered their price targets for GPC, while raising EPS estimates for 2023 and 2024.
July 21, 2023 | 7:05 pm
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Genuine Parts Co's mixed Q2 2023 results led to lowered price targets but raised EPS estimates by analysts.
The mixed Q2 2023 results of Genuine Parts Co, with sales missing consensus but EPS beating consensus, have led to a mixed reaction from analysts. While they have lowered their price targets for the company, indicating a potential negative impact on the stock price, they have also raised their EPS estimates for 2023 and 2024, indicating potential future earnings growth. This could balance out the negative impact of the lowered price targets, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100