Zacks: Analysts Expect Autobytel Inc. (ABTL) to Announce $0.18 Earnings Per Share
Equities research analysts predict that Autobytel Inc. (NASDAQ:ABTL) will post $0.18 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Autobytel’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.18. Autobytel reported earnings of $0.49 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 63.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Autobytel will report full-year earnings of $0.78 per share for the current fiscal year. For the next financial year, analysts anticipate that the business will post earnings of $0.95 per share, with EPS estimates ranging from $0.94 to $0.95. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Autobytel.
Autobytel (NASDAQ:ABTL) last posted its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.12 by $0.07. The business had revenue of $34.60 million for the quarter, compared to analysts’ expectations of $34.30 million. Autobytel had a net margin of 3.15% and a return on equity of 10.96%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS.
A number of brokerages have commented on ABTL. Zacks Investment Research upgraded Autobytel from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. ValuEngine cut Autobytel from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. B. Riley restated a “buy” rating and set a $12.00 price objective on shares of Autobytel in a research note on Wednesday, August 9th. Finally, Barrington Research cut Autobytel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 4th.
Large investors have recently added to or reduced their stakes in the stock. Globeflex Capital L P acquired a new position in shares of Autobytel in the first quarter worth about $102,000. JPMorgan Chase & Co. lifted its stake in shares of Autobytel by 24.9% in the first quarter. JPMorgan Chase & Co. now owns 8,706 shares of the information services provider’s stock worth $109,000 after acquiring an additional 1,734 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of Autobytel in the first quarter worth about $130,000. Citigroup Inc. lifted its stake in shares of Autobytel by 32.4% in the second quarter. Citigroup Inc. now owns 11,679 shares of the information services provider’s stock worth $147,000 after acquiring an additional 2,860 shares in the last quarter. Finally, Hancock Holding Co. lifted its stake in shares of Autobytel by 5.6% in the second quarter. Hancock Holding Co. now owns 14,870 shares of the information services provider’s stock worth $188,000 after acquiring an additional 790 shares in the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.
Shares of Autobytel (NASDAQ:ABTL) opened at 7.15 on Thursday. The company has a 50-day moving average of $7.61 and a 200 day moving average of $11.02. The company has a market capitalization of $78.80 million, a PE ratio of 24.66 and a beta of 0.97. Autobytel has a 52-week low of $6.63 and a 52-week high of $17.92.
Autobytel declared that its board has approved a stock buyback program on Wednesday, September 6th that allows the company to repurchase $3.00 million in outstanding shares. This repurchase authorization allows the information services provider to reacquire up to 34% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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Autobytel Inc is an automotive marketing services company that assists automotive retail dealers and automotive manufacturers market and sell new and used vehicles to consumers through the programs for online lead referrals, dealer marketing products and services, and online advertising programs and mobile products.
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