Zacks: Brokerages Expect Asbury Automotive Group, Inc. (ABG) Will Post Quarterly Sales of $1.68 Billion

Share on StockTwits

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.

Get a free copy of the Zacks research report on Asbury Automotive Group (ABG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Asbury Automotive Group (NYSE:ABG)

Receive News & Ratings for Asbury Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply