Asbury Automotive Group (NYSE:ABG) Issues Quarterly Earnings Results, Misses Estimates By $0.91 EPS

Asbury Automotive Group (NYSE:ABG) announced its earnings results on Friday. The company reported $6.40 earnings per share for the quarter, missing the consensus estimate of $7.31 by ($0.91), Zacks reports. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.31 billion. Asbury Automotive Group had a return on equity of 20.12% and a net margin of 3.68%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm earned $8.95 earnings per share.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock traded down $3.38 on Monday, reaching $231.97. 108,657 shares of the stock were exchanged, compared to its average volume of 173,982. The stock has a market cap of $4.68 billion, a PE ratio of 8.53 and a beta of 1.16. The company has a current ratio of 1.06, a quick ratio of 0.38 and a debt-to-equity ratio of 0.93. Asbury Automotive Group has a twelve month low of $178.40 and a twelve month high of $277.13. The firm has a fifty day moving average price of $237.72 and a two-hundred day moving average price of $225.14.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 price objective for the company. in a research report on Monday, June 10th.

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.