Analysts on Wall Street project that Group 1 Automotive (GPI) will announce quarterly earnings of $9.54 per share in its forthcoming report, representing an increase of 0.5% year over year. Revenues are projected to reach $5.32 billion, increasing 19% from the same quarter last year.
The current level reflects an upward revision of 0.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Group 1 Automotive metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Revenues- New vehicle retail sales' to come in at $2.58 billion. The estimate points to a change of +18.2% from the year-ago quarter.
Analysts' assessment points toward 'Revenues- Finance, insurance and other, net' reaching $209.32 million. The estimate indicates a year-over-year change of +10.8%.
The collective assessment of analysts points to an estimated 'Revenues- Total Used vehicle' of $1.76 billion. The estimate indicates a change of +15.8% from the prior-year quarter.
It is projected by analysts that the 'Revenues- Used vehicle wholesale sales' will reach $118.63 million. The estimate indicates a year-over-year change of +11.9%.
According to the collective judgment of analysts, 'Revenues- United States - New vehicle retail sales' should come in at $1.99 billion. The estimate indicates a change of +10.5% from the prior-year quarter.
The consensus among analysts is that 'Revenues- United States - Used vehicle retail sales' will reach $1.17 billion. The estimate indicates a year-over-year change of +6.3%.
Based on the collective assessment of analysts, 'Revenues- United Kingdom - New vehicle retail sales' should arrive at $592.75 million. The estimate suggests a change of +54.9% year over year.
The average prediction of analysts places 'Revenues- United Kingdom - F&I, net' at $26.94 million. The estimate points to a change of +53.9% from the year-ago quarter.
Analysts predict that the 'Units sold - Retail new vehicles sold' will reach 53,958. Compared to the current estimate, the company reported 44,302 in the same quarter of the previous year.
Analysts forecast 'Units sold - Retail used vehicles sold' to reach 58,076. Compared to the current estimate, the company reported 49,183 in the same quarter of the previous year.
The consensus estimate for 'Average sales price per unit sold - United States - Used Vehicle Retail' stands at $29,780.44. The estimate is in contrast to the year-ago figure of $28,855.
The combined assessment of analysts suggests that 'Units sold - United Kingdom - Retail new vehicles sold' will likely reach 15,332. Compared to the present estimate, the company reported 8,961 in the same quarter last year.
View all Key Company Metrics for Group 1 Automotive here>>>
Group 1 Automotive shares have witnessed a change of -2.2% in the past month, in contrast to the Zacks S&P 500 composite's -5.6% move. With a Zacks Rank #3 (Hold), GPI is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Group 1 Automotive, Inc. (GPI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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