Brokers Set Expectations for Asbury Automotive Group, Inc.’s Q1 2024 Earnings (NYSE:ABG)

Asbury Automotive Group, Inc. (NYSE:ABG) – Analysts at Seaport Res Ptn upped their Q1 2024 earnings per share (EPS) estimates for Asbury Automotive Group in a research report issued on Friday, April 19th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings per share of $7.82 for the quarter, up from their prior estimate of $7.81. The consensus estimate for Asbury Automotive Group’s current full-year earnings is $31.46 per share.

Separately, Craig Hallum downgraded Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research note on Thursday, February 8th.

Asbury Automotive Group Stock Performance

Shares of Asbury Automotive Group stock opened at $215.12 on Monday. Asbury Automotive Group has a one year low of $178.40 and a one year high of $256.39. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 7.52 and a beta of 1.18. The business has a 50-day simple moving average of $216.97 and a 200 day simple moving average of $213.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 0.45.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Thursday, February 8th. The company reported $7.12 earnings per share for the quarter, missing the consensus estimate of $7.74 by ($0.62). Asbury Automotive Group had a net margin of 4.07% and a return on equity of 21.68%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the business earned $9.12 EPS. The company’s revenue was up 2.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Norden Group LLC bought a new position in shares of Asbury Automotive Group in the first quarter worth $895,000. Allspring Global Investments Holdings LLC increased its stake in Asbury Automotive Group by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,682 shares of the company’s stock valued at $632,000 after acquiring an additional 227 shares during the last quarter. AlphaMark Advisors LLC bought a new position in Asbury Automotive Group in the first quarter valued at $319,000. BTC Capital Management Inc. bought a new position in Asbury Automotive Group in the first quarter valued at $238,000. Finally, Kapitalo Investimentos Ltda bought a new position in Asbury Automotive Group in the fourth quarter valued at $162,000.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total transaction of $826,595.00. Following the sale, the senior vice president now owns 8,300 shares in the company, valued at $1,734,700. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

About Asbury Automotive Group

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.