Brokers Issue Forecasts for Asbury Automotive Group, Inc.’s FY2018 Earnings (ABG)

Asbury Automotive Group, Inc. (NYSE:ABG) – Investment analysts at KeyCorp raised their FY2018 earnings per share estimates for shares of Asbury Automotive Group in a research note issued to investors on Wednesday. KeyCorp analyst I. Hodakovsky now forecasts that the company will post earnings of $7.82 per share for the year, up from their previous forecast of $6.70. KeyCorp also issued estimates for Asbury Automotive Group’s Q4 2018 earnings at $2.16 EPS and FY2019 earnings at $8.40 EPS.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.21. Asbury Automotive Group had a return on equity of 42.06% and a net margin of 2.15%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company posted $1.56 EPS. Asbury Automotive Group’s revenue for the quarter was up .3% on a year-over-year basis.

A number of other research firms have also weighed in on ABG. Zacks Investment Research upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Craig Hallum increased their price target on Asbury Automotive Group from $55.00 to $67.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $63.40.

Asbury Automotive Group (NYSE:ABG) opened at $69.15 on Monday. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.25 and a quick ratio of 0.38. Asbury Automotive Group has a 1 year low of $49.10 and a 1 year high of $76.40. The firm has a market capitalization of $1,439.54, a price-to-earnings ratio of 10.72, a P/E/G ratio of 0.88 and a beta of 1.58.

A number of institutional investors have recently made changes to their positions in ABG. Schroder Investment Management Group purchased a new stake in Asbury Automotive Group in the 4th quarter worth about $19,860,000. Koch Industries Inc. purchased a new stake in Asbury Automotive Group in the 2nd quarter worth about $294,000. First Manhattan Co. purchased a new stake in Asbury Automotive Group in the 4th quarter worth about $15,909,000. JPMorgan Chase & Co. lifted its stake in Asbury Automotive Group by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 193,201 shares of the company’s stock worth $11,872,000 after acquiring an additional 72,887 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Asbury Automotive Group by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,840,061 shares of the company’s stock worth $104,055,000 after acquiring an additional 62,905 shares in the last quarter.

In related news, Director Craig T. Monaghan sold 28,575 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $68.70, for a total value of $1,963,102.50. Following the completion of the transaction, the director now owns 86,112 shares in the company, valued at approximately $5,915,894.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig T. Monaghan sold 15,000 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $68.57, for a total value of $1,028,550.00. Following the completion of the transaction, the director now owns 86,112 shares of the company’s stock, valued at approximately $5,904,699.84. The disclosure for this sale can be found here. Insiders sold a total of 45,075 shares of company stock valued at $3,090,893 in the last quarter. 11.90% of the stock is currently owned by corporate insiders.

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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.

Earnings History and Estimates for Asbury Automotive Group (NYSE:ABG)

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