Equities research analysts forecast that Asbury Automotive Group Inc (NYSE:ABG) will announce $1.67 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Asbury Automotive Group’s earnings, with the highest EPS estimate coming in at $1.73 and the lowest estimate coming in at $1.62. Asbury Automotive Group posted earnings of $1.65 per share in the same quarter last year, which would indicate a positive year over year growth rate of 1.2%. The firm is scheduled to issue its next earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that Asbury Automotive Group will report full-year earnings of $6.53 per share for the current financial year, with EPS estimates ranging from $6.42 to $6.64. For the next year, analysts anticipate that the company will post earnings of $6.74 per share, with EPS estimates ranging from $6.41 to $7.37. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Asbury Automotive Group.
Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Thursday, April 27th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.09. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Asbury Automotive Group had a return on equity of 52.23% and a net margin of 2.61%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 EPS.
A number of analysts recently issued reports on the company. BidaskClub cut Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Saturday. Deutsche Bank AG restated a “hold” rating and issued a $60.00 target price (down from $68.00) on shares of Asbury Automotive Group in a research note on Thursday, June 22nd. Morgan Stanley decreased their target price on Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating on the stock in a research note on Friday, June 9th. Jefferies Group LLC restated a “neutral” rating on shares of Asbury Automotive Group in a research note on Friday, June 2nd. Finally, ValuEngine lowered Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $62.00.
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Shares of Asbury Automotive Group (ABG) traded up 1.66% on Thursday, hitting $55.05. The company had a trading volume of 51,268 shares. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 7.04 and a beta of 1.33. The company has a 50 day moving average price of $56.83 and a 200 day moving average price of $61.39. Asbury Automotive Group has a 1-year low of $47.50 and a 1-year high of $71.00.
In related news, Director Thomas C. Deloach, Jr. sold 1,676 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $59.20, for a total transaction of $99,219.20. Following the completion of the sale, the director now directly owns 82,000 shares in the company, valued at approximately $4,854,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David W. Hult sold 12,500 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $57.34, for a total value of $716,750.00. Following the sale, the chief operating officer now owns 41,911 shares of the company’s stock, valued at $2,403,176.74. The disclosure for this sale can be found here. Insiders have sold a total of 16,919 shares of company stock worth $969,522 over the last quarter. Corporate insiders own 11.90% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new stake in shares of Asbury Automotive Group during the first quarter valued at $104,000. Victory Capital Management Inc. boosted its stake in shares of Asbury Automotive Group by 45.6% in the first quarter. Victory Capital Management Inc. now owns 1,874 shares of the company’s stock valued at $113,000 after buying an additional 587 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Asbury Automotive Group by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock valued at $200,000 after buying an additional 132 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Asbury Automotive Group during the first quarter valued at $210,000. Finally, USA Financial Portformulas Corp bought a new stake in shares of Asbury Automotive Group during the fourth quarter valued at $261,000. Institutional investors own 99.89% of the company’s stock.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.
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