Brokerages Expect Asbury Automotive Group, Inc. (ABG) Will Post Quarterly Sales of $1.69 Billion

Wall Street analysts predict that Asbury Automotive Group, Inc. (NYSE:ABG) will post $1.69 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Asbury Automotive Group’s earnings. The highest sales estimate is $1.75 billion and the lowest is $1.65 billion. Asbury Automotive Group reported sales of $1.67 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.2%. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, February 6th.

On average, analysts expect that Asbury Automotive Group will report full year sales of $1.69 billion for the current financial year, with estimates ranging from $6.45 billion to $6.60 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $6.56 billion per share, with estimates ranging from $6.27 billion to $6.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research 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 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.09). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Asbury Automotive Group had a net margin of 2.54% and a return on equity of 42.24%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS.

ABG has been the subject of a number of analyst reports. Zacks Investment Research upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Jefferies Group restated a “hold” rating and issued a $61.00 price target on shares of Asbury Automotive Group in a research report on Thursday, October 12th. Finally, TheStreet upgraded Asbury Automotive Group from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $56.75.

Shares of Asbury Automotive Group (NYSE ABG) opened at $73.90 on Friday. The company has a market capitalization of $1,538.45, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.03 and a beta of 1.56. The company has a current ratio of 1.25, a quick ratio of 0.38 and a debt-to-equity ratio of 2.60. Asbury Automotive Group has a 1 year low of $49.10 and a 1 year high of $76.40.

In other news, CEO Craig T. Monaghan sold 16,096 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $61.08, for a total value of $983,143.68. Following the completion of the transaction, the chief executive officer now owns 125,408 shares of the company’s stock, valued at $7,659,920.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Juanita T. James sold 1,500 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $66.16, for a total value of $99,240.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 265,884 shares of company stock valued at $16,426,020. Company insiders own 11.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABG. Victory Capital Management Inc. boosted its stake in shares of Asbury Automotive Group by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,205 shares of the company’s stock worth $125,000 after acquiring an additional 331 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Asbury Automotive Group by 10.2% in the second quarter. Public Employees Retirement System of Ohio now owns 3,673 shares of the company’s stock worth $208,000 after acquiring an additional 340 shares during the period. Ingalls & Snyder LLC bought a new position in shares of Asbury Automotive Group in the fourth quarter worth about $218,000. Stevens Capital Management LP bought a new position in shares of Asbury Automotive Group in the second quarter worth about $220,000. Finally, Parametrica Management Ltd bought a new position in shares of Asbury Automotive Group in the third quarter worth about $223,000.

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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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