Q3 2017 EPS Estimates for Asbury Automotive Group Inc Lowered by Jefferies Group (NYSE:ABG)

Asbury Automotive Group Inc (NYSE:ABG) – Jefferies Group reduced their Q3 2017 earnings per share estimates for Asbury Automotive Group in a research note issued on Tuesday. Jefferies Group analyst B. Jordan now expects that the company will post earnings of $1.60 per share for the quarter, down from their prior estimate of $1.64. Jefferies Group currently has a “Hold” rating and a $61.00 target price on the stock. Jefferies Group also issued estimates for Asbury Automotive Group’s Q4 2017 earnings at $1.58 EPS, FY2017 earnings at $6.34 EPS, Q1 2018 earnings at $1.53 EPS, Q2 2018 earnings at $1.63 EPS, Q3 2018 earnings at $1.63 EPS, Q4 2018 earnings at $1.61 EPS and FY2018 earnings at $6.40 EPS.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, July 25th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.67 by $0.09. Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business posted $1.65 EPS. Asbury Automotive Group’s revenue was up .3% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “Q3 2017 EPS Estimates for Asbury Automotive Group Inc Lowered by Jefferies Group (NYSE:ABG)” was posted by BBNS and is the property of of BBNS. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://baseballnewssource.com/markets/q3-2017-eps-estimates-for-asbury-automotive-group-inc-lowered-by-jefferies-group-nyseabg-updated/1308603.html.

Other equities research analysts have also issued reports about the company. BidaskClub upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Craig Hallum reiterated a “hold” rating and issued a $55.00 price objective (down from $65.00) on shares of Asbury Automotive Group in a research note on Wednesday. ValuEngine lowered Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Deutsche Bank AG reiterated a “hold” rating and issued a $60.00 price objective (down from $68.00) on shares of Asbury Automotive Group in a research note on Thursday, June 22nd. Finally, Morgan Stanley lowered their price objective on Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating on the stock in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $57.80.

Asbury Automotive Group (NYSE ABG) opened at 55.20 on Friday. The company’s 50-day moving average price is $55.69 and its 200-day moving average price is $60.04. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 7.06 and a beta of 1.44. Asbury Automotive Group has a 52-week low of $47.50 and a 52-week high of $71.00.

In related news, COO David W. Hult sold 12,500 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $57.34, for a total transaction of $716,750.00. Following the sale, the chief operating officer now directly owns 41,911 shares in the company, valued at approximately $2,403,176.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas C. Deloach, Jr. sold 1,676 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $59.20, for a total value of $99,219.20. Following the sale, the director now owns 82,000 shares in the company, valued at $4,854,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,919 shares of company stock worth $969,522. 11.90% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Aperio Group LLC raised its stake in Asbury Automotive Group by 0.7% in the second quarter. Aperio Group LLC now owns 7,100 shares of the company’s stock worth $402,000 after buying an additional 51 shares during the period. Mason Street Advisors LLC increased its position in Asbury Automotive Group by 2.1% in the first quarter. Mason Street Advisors LLC now owns 4,401 shares of the company’s stock valued at $265,000 after buying an additional 92 shares in the last quarter. Texas Permanent School Fund increased its position in Asbury Automotive Group by 0.8% in the second quarter. Texas Permanent School Fund now owns 13,741 shares of the company’s stock valued at $777,000 after buying an additional 115 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Asbury Automotive Group by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock valued at $200,000 after buying an additional 132 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its position in Asbury Automotive Group by 1.1% in the first quarter. Chicago Equity Partners LLC now owns 17,660 shares of the company’s stock valued at $1,061,000 after buying an additional 190 shares in the last quarter. Institutional investors and hedge funds own 99.89% of the company’s stock.

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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