Zacks: Analysts Anticipate Asbury Automotive Group, Inc. (NYSE:ABG) to Post $2.27 EPS

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Equities analysts expect Asbury Automotive Group, Inc. (NYSE:ABG) to report $2.27 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Asbury Automotive Group’s earnings, with the highest EPS estimate coming in at $2.41 and the lowest estimate coming in at $2.10. Asbury Automotive Group posted earnings per share of $2.20 during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The business is expected to announce its next earnings results on Tuesday, April 28th.

According to Zacks, analysts expect that Asbury Automotive Group will report full year earnings of $10.82 per share for the current fiscal year, with EPS estimates ranging from $10.62 to $11.03. For the next financial year, analysts forecast that the business will post earnings of $11.46 per share, with EPS estimates ranging from $10.85 to $12.07. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Monday, February 3rd. The company reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.18. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Asbury Automotive Group had a net margin of 2.56% and a return on equity of 32.96%. Asbury Automotive Group’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS.

A number of analysts have recently issued reports on the stock. Bank of America upgraded shares of Asbury Automotive Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $125.00 to $120.00 in a research note on Tuesday. ValuEngine cut shares of Asbury Automotive Group from a “sell” rating to a “strong sell” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $100.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Craig Hallum cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research note on Tuesday, February 4th. Finally, SunTrust Banks dropped their price objective on shares of Asbury Automotive Group to and set a “hold” rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Asbury Automotive Group presently has an average rating of “Hold” and a consensus price target of $108.67.

NYSE ABG opened at $95.70 on Friday. The firm has a 50-day moving average of $101.79 and a 200-day moving average of $102.20. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.34 and a current ratio of 1.17. The stock has a market cap of $1.87 billion, a PE ratio of 10.03, a P/E/G ratio of 0.62 and a beta of 1.24. Asbury Automotive Group has a 52-week low of $65.54 and a 52-week high of $123.44.

A number of institutional investors have recently modified their holdings of the business. Caxton Associates LP bought a new stake in shares of Asbury Automotive Group during the 4th quarter valued at approximately $459,000. Cubist Systematic Strategies LLC grew its holdings in shares of Asbury Automotive Group by 125.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 8,035 shares of the company’s stock valued at $898,000 after purchasing an additional 4,476 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Asbury Automotive Group by 21.0% during the 4th quarter. AQR Capital Management LLC now owns 13,006 shares of the company’s stock valued at $1,454,000 after purchasing an additional 2,258 shares during the last quarter. Blueshift Asset Management LLC grew its holdings in shares of Asbury Automotive Group by 167.0% during the 4th quarter. Blueshift Asset Management LLC now owns 10,521 shares of the company’s stock valued at $1,176,000 after purchasing an additional 6,581 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Asbury Automotive Group by 3.1% during the 4th quarter. Bank of America Corp DE now owns 322,347 shares of the company’s stock valued at $36,035,000 after purchasing an additional 9,749 shares during the last quarter.

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.

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