Equities analysts expect Asbury Automotive Group, Inc. (NYSE:ABG) to announce sales of $1.68 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Asbury Automotive Group’s earnings, with estimates ranging from $1.67 billion to $1.69 billion. Asbury Automotive Group posted sales of $1.63 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The business is expected to announce its next earnings results on Tuesday, July 24th.
According to Zacks, analysts expect that Asbury Automotive Group will report full year sales of $6.67 billion for the current fiscal year, with estimates ranging from $6.59 billion to $6.78 billion. For the next fiscal year, analysts forecast that the firm will post sales of $6.73 billion per share, with estimates ranging from $6.61 billion to $6.99 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Asbury Automotive Group.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, April 24th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. Asbury Automotive Group had a return on equity of 38.22% and a net margin of 2.23%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company earned $1.58 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year.
ABG has been the topic of a number of recent research reports. Zacks Investment Research raised Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Wednesday, April 11th. Buckingham Research raised their price target on Asbury Automotive Group from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, April 25th. Morgan Stanley raised their price target on Asbury Automotive Group from $53.00 to $63.00 and gave the stock an “underweight” rating in a report on Wednesday, March 14th. Finally, ValuEngine downgraded Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, four have issued 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 target price of $67.33.
In other news, Director Thomas C. Deloach, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $73.51, for a total value of $1,102,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP George A. Villasana sold 13,263 shares of the firm’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $73.38, for a total value of $973,238.94. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Asbury Automotive Group in the fourth quarter worth about $102,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Asbury Automotive Group in the first quarter worth about $251,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Asbury Automotive Group in the first quarter worth about $259,000. A.R.T. Advisors LLC purchased a new position in shares of Asbury Automotive Group in the first quarter worth about $270,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Asbury Automotive Group in the first quarter worth about $294,000.
ABG stock traded down $1.05 during trading on Friday, reaching $71.45. 5,710 shares of the company traded hands, compared to its average volume of 179,172. Asbury Automotive Group has a 12 month low of $49.10 and a 12 month high of $76.50. The company has a market cap of $1.50 billion, a P/E ratio of 11.16, a PEG ratio of 1.03 and a beta of 1.54. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.20 and a quick ratio of 0.38.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.
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