Zacks: Analysts Anticipate AutoNation, Inc. (AN) Will Post Quarterly Sales of $5.56 Billion

Wall Street brokerages forecast that AutoNation, Inc. (NYSE:AN) will announce sales of $5.56 billion for the current fiscal quarter, Zacks Investment Research reports. Sixteen analysts have provided estimates for AutoNation’s earnings, with estimates ranging from $5.40 billion to $5.84 billion. AutoNation posted sales of $5.48 billion in the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The business is expected to report its next earnings results before the market opens on Thursday, February 1st.

On average, analysts expect that AutoNation will report full-year sales of $5.56 billion for the current financial year, with estimates ranging from $21.25 billion to $21.69 billion. For the next financial year, analysts expect that the firm will post sales of $21.72 billion per share, with estimates ranging from $21.02 billion to $22.18 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for AutoNation.

AutoNation (NYSE:AN) last released its quarterly earnings results on Thursday, November 2nd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.16. AutoNation had a net margin of 1.87% and a return on equity of 16.40%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. AutoNation’s revenue was down 2.4% on a year-over-year basis.

A number of equities analysts recently issued reports on AN shares. ValuEngine raised shares of AutoNation from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Berenberg Bank began coverage on shares of AutoNation in a research note on Wednesday, October 4th. They set a “buy” rating and a $55.00 target price for the company. Moffett Nathanson began coverage on shares of AutoNation in a research note on Monday, December 4th. They set a “neutral” rating for the company. Susquehanna Bancshares downgraded shares of AutoNation to a “neutral” rating and raised their target price for the company from $36.00 to $38.00 in a research note on Monday, October 2nd. Finally, UBS Group downgraded shares of AutoNation from a “positive” rating to a “neutral” rating in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $46.88.

AutoNation (AN) traded up $2.50 during mid-day trading on Monday, reaching $58.93. 2,041,000 shares of the company were exchanged, compared to its average volume of 963,623. AutoNation has a 12 month low of $38.20 and a 12 month high of $59.36. The company has a market capitalization of $5,390.00, a P/E ratio of 14.84, a P/E/G ratio of 2.24 and a beta of 1.28. The company has a current ratio of 0.73, a quick ratio of 0.17 and a debt-to-equity ratio of 0.59.

In related news, EVP Donna L. Parlapiano sold 3,367 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $51.81, for a total transaction of $174,444.27. Following the completion of the sale, the executive vice president now owns 11,469 shares of the company’s stock, valued at $594,208.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert R. Grusky sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $51.99, for a total transaction of $519,900.00. Following the sale, the director now directly owns 32,677 shares of the company’s stock, valued at approximately $1,698,877.23. The disclosure for this sale can be found here. Insiders have sold 27,733 shares of company stock valued at $1,471,647 in the last ninety days. Insiders own 3.10% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd purchased a new position in shares of AutoNation during the 2nd quarter worth $2,304,000. Schwab Charles Investment Management Inc. raised its position in shares of AutoNation by 6.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 348,313 shares of the company’s stock valued at $14,685,000 after purchasing an additional 21,198 shares during the period. CLS Investments LLC bought a new stake in shares of AutoNation during the 3rd quarter valued at $1,266,000. Garner Asset Management Corp raised its position in shares of AutoNation by 29.2% during the 3rd quarter. Garner Asset Management Corp now owns 35,155 shares of the company’s stock valued at $1,668,000 after purchasing an additional 7,945 shares during the period. Finally, Shell Asset Management Co. raised its position in shares of AutoNation by 425.3% during the 3rd quarter. Shell Asset Management Co. now owns 14,424 shares of the company’s stock valued at $726,000 after purchasing an additional 11,678 shares during the period. Institutional investors own 77.75% of the company’s stock.

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About AutoNation

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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Earnings History and Estimates for AutoNation (NYSE:AN)

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