AutoNation, Inc. (AN) Expected to Announce Quarterly Sales of $5.60 Billion
Equities research analysts forecast that AutoNation, Inc. (NYSE:AN) will post sales of $5.60 billion for the current fiscal quarter, according to Zacks. Sixteen analysts have issued estimates for AutoNation’s earnings, with the lowest sales estimate coming in at $5.39 billion and the highest estimate coming in at $5.80 billion. AutoNation reported sales of $5.57 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.5%. The business is scheduled to issue its next earnings report before the market opens on Thursday, November 2nd.
On average, analysts expect that AutoNation will report full year sales of $5.60 billion for the current year, with estimates ranging from $21.28 billion to $21.84 billion. For the next financial year, analysts anticipate that the firm will post sales of $21.91 billion per share, with estimates ranging from $21.17 billion to $22.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for AutoNation.
AutoNation (NYSE:AN) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.12). The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.56 billion. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 EPS.
AN has been the topic of a number of analyst reports. Northcoast Research upgraded shares of AutoNation from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Thursday, June 8th. Morgan Stanley lowered their target price on shares of AutoNation from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, June 9th. Deutsche Bank AG restated a “hold” rating and set a $46.00 target price (down previously from $50.00) on shares of AutoNation in a research note on Thursday, June 22nd. BidaskClub upgraded shares of AutoNation from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Finally, Jefferies Group LLC restated a “hold” rating and set a $49.00 target price on shares of AutoNation in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. AutoNation has a consensus rating of “Hold” and a consensus target price of $45.55.
AutoNation (AN) opened at 47.76 on Thursday. The stock has a 50 day moving average of $45.24 and a 200 day moving average of $42.18. AutoNation has a 12-month low of $38.20 and a 12-month high of $53.74. The company has a market cap of $4.80 billion, a PE ratio of 11.89 and a beta of 1.21.
AutoNation announced that its Board of Directors has approved a stock repurchase program on Tuesday, August 29th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other AutoNation news, Director Robert R. Grusky sold 2,800 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.99, for a total value of $109,172.00. Following the sale, the director now owns 30,713 shares in the company, valued at approximately $1,197,499.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of AN. Nordea Investment Management AB increased its holdings in shares of AutoNation by 43.8% in the 1st quarter. Nordea Investment Management AB now owns 3,285 shares of the company’s stock worth $139,000 after buying an additional 1,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of AutoNation in the 1st quarter worth about $206,000. Achmea Investment Management B.V. bought a new stake in shares of AutoNation in the 1st quarter worth about $209,000. Invictus RG increased its holdings in shares of AutoNation by 58.2% in the 1st quarter. Invictus RG now owns 4,981 shares of the company’s stock worth $211,000 after buying an additional 1,833 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of AutoNation by 8.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock worth $215,000 after buying an additional 372 shares during the last quarter. Hedge funds and other institutional investors own 73.42% of the company’s stock.
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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.
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