Wall Street brokerages expect Asbury Automotive Group, Inc. (NYSE:ABG) to report $2.26 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Asbury Automotive Group’s earnings, with estimates ranging from $2.17 to $2.55. Asbury Automotive Group reported earnings per share of $2.08 during the same quarter last year, which would indicate a positive year over year growth rate of 8.7%. The company is scheduled to report its next quarterly earnings report on Tuesday, July 23rd.
According to Zacks, analysts expect that Asbury Automotive Group will report full year earnings of $8.95 per share for the current financial year, with EPS estimates ranging from $8.71 to $9.76. For the next year, analysts anticipate that the business will report earnings of $9.14 per share, with EPS estimates ranging from $8.75 to $10.22. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Asbury Automotive Group.
Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, April 23rd. The company reported $2.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.28. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.67 billion. Asbury Automotive Group had a net margin of 2.43% and a return on equity of 36.35%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $1.93 earnings per share.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Tuesday, April 16th. JPMorgan Chase & Co. assumed coverage on shares of Asbury Automotive Group in a report on Tuesday, February 19th. They set a “neutral” rating and a $82.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Asbury Automotive Group from $85.00 to $87.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Finally, Craig Hallum raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $81.83.
ABG stock traded down $1.06 during trading on Friday, hitting $78.57. 115,271 shares of the company’s stock traded hands, compared to its average volume of 173,476. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.63 and a beta of 1.22. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 1.85. Asbury Automotive Group has a 1 year low of $58.60 and a 1 year high of $82.30.
In related news, Director Dennis E. Clements sold 20,000 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $71.10, for a total transaction of $1,422,000.00. Following the transaction, the director now directly owns 6,883 shares of the company’s stock, valued at $489,381.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David W. Hult sold 15,000 shares of Asbury Automotive Group stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $79.25, for a total transaction of $1,188,750.00. Following the transaction, the chief executive officer now directly owns 25,703 shares in the company, valued at $2,036,962.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,599 shares of company stock worth $4,435,949. 1.36% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in Asbury Automotive Group by 24.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 57,939 shares of the company’s stock worth $4,019,000 after purchasing an additional 11,390 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Asbury Automotive Group by 167.0% in the first quarter. Schonfeld Strategic Advisors LLC now owns 16,900 shares of the company’s stock worth $1,173,000 after purchasing an additional 10,571 shares during the period. Morgan Stanley lifted its holdings in Asbury Automotive Group by 14.4% in the first quarter. Morgan Stanley now owns 1,385,664 shares of the company’s stock worth $96,110,000 after purchasing an additional 174,940 shares during the period. Man Group plc lifted its holdings in Asbury Automotive Group by 15.4% in the first quarter. Man Group plc now owns 182,181 shares of the company’s stock worth $12,637,000 after purchasing an additional 24,287 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in Asbury Automotive Group by 1.1% in the first quarter. Macquarie Group Ltd. now owns 428,662 shares of the company’s stock worth $29,732,000 after purchasing an additional 4,849 shares during the period.
About Asbury Automotive Group
Asbury Automotive Group, Inc, together with its subsidiaries, 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 services, replacement parts, and collision repair services.
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