Zacks: Analysts Anticipate Asbury Automotive Group Inc (ABG) to Post $1.58 Earnings Per Share
Equities research analysts expect Asbury Automotive Group Inc (NYSE:ABG) to report earnings per share (EPS) of $1.58 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Asbury Automotive Group’s earnings. The lowest EPS estimate is $1.54 and the highest is $1.61. Asbury Automotive Group posted earnings of $1.52 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 3.9%. The company is expected to report its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Asbury Automotive Group will report full year earnings of $6.34 per share for the current financial year, with EPS estimates ranging from $6.28 to $6.47. For the next financial year, analysts anticipate that the company will report earnings of $6.45 per share, with EPS estimates ranging from $6.30 to $6.70. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Asbury Automotive Group.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.67 by $0.09. Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year.
A number of brokerages recently issued reports on ABG. ValuEngine lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Jefferies Group LLC restated a “neutral” rating on shares of Asbury Automotive Group in a research report on Friday, June 2nd. Morgan Stanley decreased their target price on shares of Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating on the stock in a research report on Friday, June 9th. BidaskClub upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Finally, Deutsche Bank AG restated a “hold” rating and set a $60.00 target price (down previously from $68.00) on shares of Asbury Automotive Group in a research report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Asbury Automotive Group has a consensus rating of “Hold” and a consensus target price of $57.80.
COPYRIGHT VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/08/26/zacks-analysts-anticipate-asbury-automotive-group-inc-abg-to-post-1-58-earnings-per-share.html.
Shares of Asbury Automotive Group (NYSE:ABG) traded up 0.69% during midday trading on Friday, hitting $51.10. The stock had a trading volume of 62,060 shares. Asbury Automotive Group has a 52-week low of $47.50 and a 52-week high of $71.00. The firm’s 50 day moving average price is $53.88 and its 200 day moving average price is $58.30. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 6.65 and a beta of 1.42.
In related news, Director Msd Capital L. P sold 104,949 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $51.27, for a total transaction of $5,380,735.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP George Karolis sold 2,743 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $55.98, for a total transaction of $153,553.14. Following the sale, the senior vice president now owns 5,083 shares in the company, valued at approximately $284,546.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,687 shares of company stock worth $6,277,892. 11.90% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Karp Capital Management Corp bought a new position in shares of Asbury Automotive Group during the first quarter worth $424,000. UBS Asset Management Americas Inc. raised its position in shares of Asbury Automotive Group by 121.1% in the first quarter. UBS Asset Management Americas Inc. now owns 8,026 shares of the company’s stock worth $482,000 after buying an additional 4,396 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Asbury Automotive Group by 1,004.6% in the first quarter. BNP Paribas Arbitrage SA now owns 52,777 shares of the company’s stock worth $3,172,000 after buying an additional 47,999 shares during the period. First Trust Advisors LP raised its position in shares of Asbury Automotive Group by 9.2% in the first quarter. First Trust Advisors LP now owns 24,849 shares of the company’s stock worth $1,493,000 after buying an additional 2,091 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Asbury Automotive Group by 35.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,640 shares of the company’s stock worth $639,000 after buying an additional 2,777 shares during the period. Institutional investors own 99.89% of the company’s stock.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Asbury Automotive Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.