Asbury Automotive Group (NYSE:ABG) Announces Earnings Results

Asbury Automotive Group (NYSE:ABG) posted its quarterly earnings data on Tuesday. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01, Bloomberg Earnings reports. Asbury Automotive Group had a net margin of 2.57% and a return on equity of 35.08%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was up 4.8% on a year-over-year basis.

NYSE ABG opened at $96.64 on Wednesday. The company has a 50 day simple moving average of $99.51 and a 200-day simple moving average of $86.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.20 and a quick ratio of 0.34. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.80 and a beta of 1.24. Asbury Automotive Group has a 52-week low of $61.47 and a 52-week high of $106.37.

In related news, VP William Frederick Stax sold 424 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $90.35, for a total transaction of $38,308.40. Following the transaction, the vice president now owns 3,464 shares of the company’s stock, valued at $312,972.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas C. Deloach, Jr. sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $91.71, for a total transaction of $733,680.00. Following the transaction, the director now directly owns 17,703 shares in the company, valued at approximately $1,623,542.13. 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. 1.36% of the stock is owned by insiders.

A number of research firms have commented on ABG. Bank of America lowered shares of Asbury Automotive Group from a “buy” rating to a “neutral” rating in a research note on Friday, September 13th. Zacks Investment Research lowered shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Craig Hallum upped their price objective on shares of Asbury Automotive Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Morgan Stanley upped their price objective on shares of Asbury Automotive Group from $86.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Asbury Automotive Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Asbury Automotive Group has an average rating of “Hold” and a consensus target price of $90.00.

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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Earnings History for Asbury Automotive Group (NYSE:ABG)

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