Zacks: Brokerages Anticipate Asbury Automotive Group, Inc. (ABG) to Announce $1.94 Earnings Per Share

Equities analysts forecast that Asbury Automotive Group, Inc. (NYSE:ABG) will announce earnings of $1.94 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Asbury Automotive Group’s earnings, with the lowest EPS estimate coming in at $1.78 and the highest estimate coming in at $2.06. Asbury Automotive Group posted earnings of $1.81 per share during the same quarter last year, which indicates a positive year over year growth rate of 7.2%. The business is expected to announce its next quarterly earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Asbury Automotive Group will report full year earnings of $7.92 per share for the current financial year, with EPS estimates ranging from $7.60 to $8.26. For the next year, analysts anticipate that the company will post earnings of $8.16 per share, with EPS estimates ranging from $7.75 to $8.54. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.33. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.68 billion. Asbury Automotive Group had a return on equity of 37.44% and a net margin of 2.37%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 EPS.



ABG has been the topic of several recent analyst reports. ValuEngine raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $63.00 to $71.00 in a research report on Tuesday, July 10th. Zacks Investment Research raised Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, September 25th. Buckingham Research upped their target price on Asbury Automotive Group from $70.00 to $74.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, SunTrust Banks reduced their target price on Asbury Automotive Group to $70.00 and set a “hold” rating on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus price target of $72.40.

NYSE:ABG traded up $0.99 during mid-day trading on Friday, hitting $68.00. 12,398 shares of the company’s stock traded hands, compared to its average volume of 220,907. Asbury Automotive Group has a twelve month low of $58.60 and a twelve month high of $77.75. The firm has a market capitalization of $1.21 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.85 and a beta of 1.44. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.19 and a quick ratio of 0.36.

In other Asbury Automotive Group news, Director Juanita T. James sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $74.73, for a total transaction of $112,095.00. Following the sale, the director now owns 8,679 shares in the company, valued at approximately $648,581.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas C. Deloach, Jr. sold 10,616 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $74.75, for a total value of $793,546.00. Following the sale, the director now owns 68,652 shares in the company, valued at approximately $5,131,737. The disclosure for this sale can be found here. Insiders have sold a total of 27,386 shares of company stock worth $2,050,438 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its stake in Asbury Automotive Group by 100.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,436 shares of the company’s stock valued at $922,000 after purchasing an additional 6,718 shares during the last quarter. First Trust Advisors LP grew its stake in Asbury Automotive Group by 55.6% during the 3rd quarter. First Trust Advisors LP now owns 33,307 shares of the company’s stock valued at $2,290,000 after purchasing an additional 11,900 shares during the last quarter. First Quadrant L P CA grew its stake in Asbury Automotive Group by 24.4% during the 3rd quarter. First Quadrant L P CA now owns 27,630 shares of the company’s stock valued at $1,900,000 after purchasing an additional 5,414 shares during the last quarter. Texas Permanent School Fund grew its stake in Asbury Automotive Group by 8.1% during the 3rd quarter. Texas Permanent School Fund now owns 12,806 shares of the company’s stock valued at $880,000 after purchasing an additional 955 shares during the last quarter. Finally, First Hawaiian Bank purchased a new stake in Asbury Automotive Group during the 3rd quarter valued at about $273,000.

About Asbury Automotive Group

Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.

Recommended Story: Risk Tolerance

Get a free copy of the Zacks research report on Asbury Automotive Group (ABG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Asbury Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply