Why Genuine Parts Company Stock Fell 10%
Shares of automotive and industrial replacement parts company Genuine Parts (NYSE: GPC) fell as much as 10.1% on Thursday following the company's third-quarter results. The stock finished the trading day down 8.5%.
The Street's pessimistic response to the report likely reflects the company's worse-than-expected earnings. Genuine Parts reported adjusted earnings per share of $1.16, well below analysts' consensus forecast for $1.28. In addition, the company also lowered its guidance for full-year adjusted EPS to a range of $4.55 to $4.60, down from its prior outlook for a range from $4.70 to $4.75.
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Source: Fool.com
Genuine Parts Corp Stock
€142.45
-0.940%
Genuine Parts Corp is currently one of the favorites of our community with 12 Buy predictions and no Sell predictions.
As a result the target price of 163 € shows a slightly positive potential of 14.43% compared to the current price of 142.45 € for Genuine Parts Corp.
