Group 1 Automotive, Inc. GPI 4Q10 EPS of $0.64 was slightly above “our expectation of $0.63 and the Street of $0.62,” Goldman Sachs reports.
“We are raising our 2011/2012 estimates to $3.61/$4.53 from $3.46/$4.25. We are also introducing our 2013E EPS estimate of $4.86,” Goldman Sachs writes.
“Our estimate changes reflect: a slightly lower level of profitability in new & used vehicles and P&S given the company's strategy to trade some margin for higher sales; and a modestly lower used to new ratio vs. our previous estimates.
“These factors are more than offset by higher top-line growth, driven by strong new volumes, higher growth in the P&S segment vis-à-vis our earlier forecast, and the impact of the mortgage facility restructuring that lowers interest expense by $3.8 mn.”
Group 1 Automotive closed Thursday at $39.00.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in