Research Analysts Issue Forecasts for AutoNation, Inc.’s Q3 2017 Earnings (AN)
AutoNation, Inc. (NYSE:AN) – Investment analysts at Northcoast Research lowered their Q3 2017 earnings per share (EPS) estimates for AutoNation in a research report issued to clients and investors on Wednesday. Northcoast Research analyst J. Healy now anticipates that the company will earn $0.85 per share for the quarter, down from their prior estimate of $0.91. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for AutoNation’s FY2017 earnings at $3.62 EPS.
Several other research firms have also issued reports on AN. Susquehanna Bancshares Inc lowered shares of AutoNation to a “neutral” rating and lifted their price target for the stock from $36.00 to $38.00 in a research report on Monday. Morgan Stanley decreased their target price on shares of AutoNation from $57.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, June 9th. Jefferies Group LLC reissued a “hold” rating and set a $44.00 target price on shares of AutoNation in a research note on Sunday, September 10th. KeyCorp reaffirmed a “hold” rating on shares of AutoNation in a research note on Friday, September 1st. Finally, Deutsche Bank AG reduced their price objective on shares of AutoNation from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. AutoNation currently has a consensus rating of “Hold” and an average target price of $45.55.
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AutoNation (NYSE AN) opened at 47.61 on Thursday. The firm has a market cap of $4.78 billion, a PE ratio of 11.86 and a beta of 1.21. AutoNation has a 12 month low of $38.20 and a 12 month high of $53.74. The company has a 50-day moving average price of $45.24 and a 200 day moving average price of $42.18.
AutoNation (NYSE:AN) last posted its earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.12). The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.56 billion. AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share.
A number of hedge funds have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in AutoNation by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,890 shares of the company’s stock valued at $206,000 after acquiring an additional 24 shares during the last quarter. Mason Street Advisors LLC lifted its stake in AutoNation by 0.9% in the first quarter. Mason Street Advisors LLC now owns 9,065 shares of the company’s stock valued at $383,000 after acquiring an additional 81 shares during the last quarter. State of Tennessee Treasury Department lifted its stake in AutoNation by 0.5% in the second quarter. State of Tennessee Treasury Department now owns 18,002 shares of the company’s stock valued at $759,000 after acquiring an additional 84 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in AutoNation by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 15,819 shares of the company’s stock valued at $667,000 after acquiring an additional 89 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in AutoNation by 0.6% in the second quarter. Arizona State Retirement System now owns 16,291 shares of the company’s stock valued at $687,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 73.42% of the company’s stock.
In related news, Director Robert R. Grusky sold 2,800 shares of the firm’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 completion of the transaction, the director now owns 30,713 shares of the company’s stock, valued at $1,197,499.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.
AutoNation announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 29th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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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