Zacks: Analysts Expect Asbury Automotive Group, Inc. (ABG) Will Post Earnings of $1.60 Per Share

Wall Street brokerages expect that Asbury Automotive Group, Inc. (NYSE:ABG) will report $1.60 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Asbury Automotive Group’s earnings, with the lowest EPS estimate coming in at $1.55 and the highest estimate coming in at $1.65. Asbury Automotive Group reported earnings per share of $1.56 in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.6%. The business is scheduled to announce its next earnings results before the market opens on Tuesday, February 6th.

On average, analysts expect that Asbury Automotive Group will report full-year earnings of $6.25 per share for the current financial year, with EPS estimates ranging from $6.19 to $6.38. For the next financial year, analysts anticipate that the business will post earnings of $6.47 per share, with EPS estimates ranging from $6.19 to $6.70. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.09). The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.68 billion. Asbury Automotive Group had a net margin of 2.54% and a return on equity of 42.24%. Asbury Automotive Group’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS.

Several equities research analysts have issued reports on ABG shares. Jefferies Group reaffirmed a “hold” rating and set a $61.00 price target on shares of Asbury Automotive Group in a research note on Thursday, October 12th. Zacks Investment Research lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Finally, TheStreet raised Asbury Automotive Group from a “c+” rating to a “b-” rating in a research note on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus price target of $56.75.

In other news, CEO Craig T. Monaghan sold 48,288 shares of Asbury Automotive Group stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $60.96, for a total value of $2,943,636.48. Following the transaction, the chief executive officer now owns 125,408 shares in the company, valued at $7,644,871.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joel Alsfine sold 200,000 shares of Asbury Automotive Group stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $62.00, for a total value of $12,400,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 265,884 shares of company stock worth $16,426,020. Company insiders own 11.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its holdings in shares of Asbury Automotive Group by 8.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 211,375 shares of the company’s stock worth $13,528,000 after buying an additional 15,951 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Asbury Automotive Group in the third quarter worth about $1,696,000. California Public Employees Retirement System increased its holdings in shares of Asbury Automotive Group by 6.3% in the third quarter. California Public Employees Retirement System now owns 86,974 shares of the company’s stock worth $5,314,000 after buying an additional 5,174 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Asbury Automotive Group by 4,111.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 8,423 shares of the company’s stock valued at $515,000 after purchasing an additional 8,223 shares during the period. Finally, Mangrove Partners purchased a new position in Asbury Automotive Group during the 3rd quarter valued at about $2,881,000.

Asbury Automotive Group (NYSE ABG) traded up $0.25 during trading hours on Friday, reaching $72.85. The company had a trading volume of 227,300 shares, compared to its average volume of 246,075. The company has a market capitalization of $1,511.36, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 1.01 and a beta of 1.56. Asbury Automotive Group has a 12 month low of $49.10 and a 12 month high of $76.40. The company has a quick ratio of 0.38, a current ratio of 1.25 and a debt-to-equity ratio of 2.60.

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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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