Equities research analysts expect Asbury Automotive Group, Inc. (NYSE:ABG) to report sales of $1.70 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Asbury Automotive Group’s earnings. The highest sales estimate is $1.71 billion and the lowest is $1.68 billion. Asbury Automotive Group posted sales of $1.60 billion in the same quarter last year, which suggests a positive year over year growth rate of 6.3%. The firm is expected to issue its next earnings report on Tuesday, October 23rd.
According to Zacks, analysts expect that Asbury Automotive Group will report full-year sales of $6.67 billion for the current year, with estimates ranging from $6.48 billion to $6.80 billion. For the next financial year, analysts expect that the business will report sales of $6.76 billion per share, with estimates ranging from $6.45 billion to $7.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Asbury Automotive Group.
Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, July 24th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.16. Asbury Automotive Group had a net margin of 2.37% and a return on equity of 37.44%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year.
ABG has been the topic of several recent research reports. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, May 16th. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $63.00 to $71.00 in a report on Tuesday, July 10th. SunTrust Banks initiated coverage on shares of Asbury Automotive Group in a report on Friday, August 24th. They issued a “hold” rating and a $78.00 price target on the stock. Finally, ValuEngine downgraded shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $71.83.
Shares of NYSE ABG traded down $1.15 on Friday, hitting $73.30. The company’s stock had a trading volume of 75,300 shares, compared to its average volume of 198,433. Asbury Automotive Group has a 12-month low of $53.85 and a 12-month high of $77.75. The company has a market capitalization of $1.52 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.06 and a beta of 1.45. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.19 and a quick ratio of 0.36.
In related news, Director Juanita T. James sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $74.73, for a total transaction of $112,095.00. Following the transaction, the director now owns 8,679 shares of the company’s stock, valued at $648,581.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas C. Deloach, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $74.97, for a total transaction of $1,124,550.00. Following the transaction, the director now directly owns 68,652 shares in the company, valued at approximately $5,146,840.44. The disclosure for this sale can be found here. Insiders have sold 42,386 shares of company stock worth $3,153,088 in the last three months. Insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ABG. Stevens Capital Management LP purchased a new position in Asbury Automotive Group during the second quarter worth approximately $201,000. Sei Investments Co. raised its stake in Asbury Automotive Group by 1,869.7% during the second quarter. Sei Investments Co. now owns 2,994 shares of the company’s stock worth $206,000 after purchasing an additional 2,842 shares during the period. Amalgamated Bank purchased a new position in Asbury Automotive Group during the second quarter worth approximately $227,000. Robeco Institutional Asset Management B.V. purchased a new position in Asbury Automotive Group during the first quarter worth approximately $251,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Asbury Automotive Group during the first quarter worth approximately $259,000.
About Asbury Automotive Group
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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