AutoNation, Inc. (AN) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS
AutoNation, Inc. (NYSE:AN) posted its quarterly earnings results on Thursday. The company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.16, Bloomberg Earnings reports. AutoNation had a net margin of 1.87% and a return on equity of 16.03%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis.
AutoNation (NYSE:AN) traded up $6.57 during midday trading on Friday, reaching $54.17. 1,434,073 shares of the company’s stock traded hands, compared to its average volume of 1,103,540. The firm has a market capitalization of $4,986.47, a PE ratio of 14.16 and a beta of 1.24.
Several analysts have recently weighed in on AN shares. Susquehanna Bancshares Inc downgraded shares of AutoNation to a “neutral” rating and lifted their price target for the company from $36.00 to $38.00 in a research note on Monday, October 2nd. UBS AG downgraded shares of AutoNation from a “positive” rating to a “neutral” rating in a research note on Thursday, September 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $44.00 price target 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 decreased their price target 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 equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. AutoNation has an average rating of “Hold” and a consensus target price of $46.25.
AutoNation declared that its board has initiated a stock buyback program on Tuesday, August 29th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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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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