Asbury Automotive Group, Inc. (NYSE:ABG) Expected to Announce Earnings of $2.38 Per Share

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Equities analysts expect that Asbury Automotive Group, Inc. (NYSE:ABG) will announce $2.38 earnings per share for the current quarter, according to Zacks. Three analysts have issued estimates for Asbury Automotive Group’s earnings. The highest EPS estimate is $2.68 and the lowest is $2.23. Asbury Automotive Group reported earnings of $2.21 per share in the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The firm is scheduled to issue its next earnings results on Tuesday, October 22nd.

According to Zacks, analysts expect that Asbury Automotive Group will report full year earnings of $9.31 per share for the current fiscal year, with EPS estimates ranging from $9.11 to $9.90. For the next fiscal year, analysts expect that the company will post earnings of $9.83 per share, with EPS estimates ranging from $9.40 to $11.20. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Friday, July 26th. The company reported $2.38 EPS for the quarter, beating the Zacks’ consensus estimate of $2.27 by $0.11. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.80 billion. Asbury Automotive Group had a net margin of 2.57% and a return on equity of 35.08%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share.

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Asbury Automotive Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Morgan Stanley boosted their target price on shares of Asbury Automotive Group from $86.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Thursday, August 1st. ValuEngine downgraded shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Craig Hallum boosted their target price on shares of Asbury Automotive Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus price target of $90.00.

In other news, VP William Frederick Stax sold 424 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $90.35, for a total value of $38,308.40. Following the completion of the sale, the vice president now directly owns 3,464 shares in the company, valued at $312,972.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas C. Deloach, Jr. sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $91.00, for a total transaction of $182,000.00. Following the completion of the sale, the director now owns 15,703 shares of the company’s stock, valued at $1,428,973. The disclosure for this sale can be found here. Insiders sold 12,324 shares of company stock valued at $1,129,466 over the last three months. Insiders own 1.36% of the company’s stock.

Institutional investors have recently modified their holdings of the company. First Trust Advisors LP lifted its stake in shares of Asbury Automotive Group by 37.8% in the second quarter. First Trust Advisors LP now owns 26,294 shares of the company’s stock worth $2,218,000 after buying an additional 7,218 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Asbury Automotive Group by 34.1% in the first quarter. Janney Montgomery Scott LLC now owns 28,197 shares of the company’s stock worth $1,956,000 after buying an additional 7,166 shares during the last quarter. GAM Holding AG lifted its stake in shares of Asbury Automotive Group by 43.6% in the first quarter. GAM Holding AG now owns 10,306 shares of the company’s stock worth $715,000 after buying an additional 3,128 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Asbury Automotive Group by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 7,592 shares of the company’s stock worth $527,000 after buying an additional 137 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Asbury Automotive Group by 16.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 9,371 shares of the company’s stock worth $650,000 after buying an additional 1,358 shares during the last quarter.

ABG stock traded down $1.00 during trading hours on Friday, hitting $100.80. The company’s stock had a trading volume of 3,858 shares, compared to its average volume of 125,749. The company has a quick ratio of 0.34, a current ratio of 1.20 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $1.96 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. Asbury Automotive Group has a 12 month low of $58.60 and a 12 month high of $103.92. The stock has a 50 day moving average price of $92.55 and a two-hundred day moving average price of $80.71.

Asbury Automotive Group Company Profile

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.

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

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