Asbury Automotive Group Inc (ABG) Releases Earnings Results
Asbury Automotive Group Inc (NYSE:ABG) issued its quarterly earnings data on Tuesday. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.09), Bloomberg Earnings reports. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. The company’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.52 EPS.
Shares of Asbury Automotive Group (ABG) opened at 57.05 on Wednesday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 7.42 and a beta of 1.45. The firm’s 50-day moving average is $58.57 and its 200-day moving average is $56.63. Asbury Automotive Group has a 12-month low of $47.50 and a 12-month high of $71.00.
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Several research analysts recently weighed in on ABG shares. Zacks Investment Research cut shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $58.00 price objective (down previously from $60.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price objective on shares of Asbury Automotive Group in a research note on Thursday, October 12th. Craig Hallum reaffirmed a “hold” rating and set a $55.00 price objective (down previously from $65.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. Finally, TheStreet cut shares of Asbury Automotive Group from a “b-” rating to a “c+” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $56.75.
In other Asbury Automotive Group news, insider William Frederick Stax sold 495 shares of Asbury Automotive Group stock in a transaction on Friday, August 4th. The stock was sold at an average price of $54.25, for a total transaction of $26,853.75. Following the completion of the transaction, the insider now directly owns 4,586 shares of the company’s stock, valued at $248,790.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Msd Capital L. P sold 104,949 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $51.27, for a total value of $5,380,735.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,444 shares of company stock valued at $5,700,889. Company insiders own 11.90% of the company’s stock.
About Asbury Automotive Group
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.
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