AutoNation, Inc. (NYSE:AN) – Investment analysts at Jefferies Group dropped their FY2017 earnings estimates for AutoNation in a research note issued to investors on Wednesday. Jefferies Group analyst B. Jordan now expects that the company will post earnings of $3.48 per share for the year, down from their prior forecast of $3.97. Jefferies Group has a “Hold” rating and a $49.00 price objective on the stock.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by $0.12. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.56 billion. AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 earnings per share.

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A number of other equities research analysts have also recently issued reports on the stock. BidaskClub raised shares of AutoNation from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. Northcoast Research raised shares of AutoNation from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Thursday, June 8th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $50.00 target price (down from $52.00) on shares of AutoNation in a report on Saturday, April 29th. Morgan Stanley dropped their target price on shares of AutoNation from $57.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, June 9th. Finally, ValuEngine cut shares of AutoNation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.20.

Shares of AutoNation (NYSE:AN) opened at 39.70 on Monday. The stock has a 50 day moving average price of $41.66 and a 200 day moving average price of $43.46. AutoNation has a 12 month low of $38.20 and a 12 month high of $53.74. The firm has a market capitalization of $3.97 billion, a P/E ratio of 9.89 and a beta of 1.24.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. bought a new position in shares of AutoNation during the second quarter worth approximately $1,758,000. Midwest Investment Management LLC raised its position in shares of AutoNation by 3.5% in the second quarter. Midwest Investment Management LLC now owns 68,730 shares of the company’s stock worth $2,897,000 after buying an additional 2,320 shares during the period. Gamco Investors INC. ET AL raised its position in shares of AutoNation by 2.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,265,832 shares of the company’s stock worth $53,367,000 after buying an additional 35,507 shares during the period. Legal & General Group Plc raised its position in shares of AutoNation by 10.9% in the second quarter. Legal & General Group Plc now owns 385,429 shares of the company’s stock worth $16,249,000 after buying an additional 37,774 shares during the period. Finally, State of Wisconsin Investment Board raised its position in shares of AutoNation by 18.3% in the second quarter. State of Wisconsin Investment Board now owns 51,297 shares of the company’s stock worth $2,163,000 after buying an additional 7,940 shares during the period. Institutional investors and hedge funds own 65.97% of the company’s stock.

AutoNation Company Profile

AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.

Earnings History and Estimates for AutoNation (NYSE:AN)

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