Brokerages Anticipate Asbury Automotive Group, Inc. (NYSE:ABG) Will Post Earnings of $8.92 Per Share

Equities analysts expect Asbury Automotive Group, Inc. (NYSE:ABGGet Rating) to announce earnings of $8.92 per share for the current quarter, according to Zacks. Five analysts have made estimates for Asbury Automotive Group’s earnings, with the highest EPS estimate coming in at $9.30 and the lowest estimate coming in at $7.94. Asbury Automotive Group posted earnings of $4.68 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 90.6%. The business is scheduled to report its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Asbury Automotive Group will report full year earnings of $34.31 per share for the current financial year, with EPS estimates ranging from $29.94 to $37.45. For the next fiscal year, analysts expect that the firm will post earnings of $31.79 per share, with EPS estimates ranging from $26.30 to $36.78. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABGGet Rating) last issued its quarterly earnings results on Tuesday, February 15th. The company reported $7.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.86 by $1.60. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.54 billion. Asbury Automotive Group had a return on equity of 39.45% and a net margin of 5.41%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the company posted $4.44 EPS.

A number of equities analysts have issued reports on ABG shares. StockNews.com initiated coverage on Asbury Automotive Group in a research note on Thursday, March 31st. They set a “hold” rating for the company. Craig Hallum reduced their price objective on Asbury Automotive Group from $250.00 to $225.00 in a research note on Wednesday, February 16th. Morgan Stanley raised their price objective on Asbury Automotive Group from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 8th. JPMorgan Chase & Co. reduced their price objective on Asbury Automotive Group from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Thursday, April 7th. Finally, Zacks Investment Research raised Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $173.00 target price for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $206.60.

NYSE ABG traded down $1.55 on Friday, reaching $153.66. 230,737 shares of the stock traded hands, compared to its average volume of 307,757. The firm’s fifty day simple moving average is $175.80 and its 200 day simple moving average is $176.48. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 1.66. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 5.79, a P/E/G ratio of 0.24 and a beta of 1.39. Asbury Automotive Group has a 12 month low of $146.43 and a 12 month high of $230.96.

In other Asbury Automotive Group news, SVP Miran Maric sold 233 shares of the firm’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $187.79, for a total transaction of $43,755.07. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David W. Hult sold 23,848 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $195.81, for a total value of $4,669,676.88. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ABG. BlackRock Inc. grew its position in shares of Asbury Automotive Group by 19.7% in the fourth quarter. BlackRock Inc. now owns 3,706,159 shares of the company’s stock valued at $640,169,000 after purchasing an additional 609,776 shares during the last quarter. Impactive Capital LP grew its position in shares of Asbury Automotive Group by 4.6% in the third quarter. Impactive Capital LP now owns 1,016,059 shares of the company’s stock valued at $199,899,000 after purchasing an additional 44,866 shares during the last quarter. State Street Corp grew its position in shares of Asbury Automotive Group by 14.7% in the fourth quarter. State Street Corp now owns 791,646 shares of the company’s stock valued at $136,741,000 after purchasing an additional 101,755 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Asbury Automotive Group by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 742,439 shares of the company’s stock valued at $128,237,000 after purchasing an additional 12,755 shares during the last quarter. Finally, Simcoe Capital Management LLC grew its position in shares of Asbury Automotive Group by 10.5% in the fourth quarter. Simcoe Capital Management LLC now owns 721,990 shares of the company’s stock valued at $124,709,000 after purchasing an additional 68,635 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Asbury Automotive Group Company Profile (Get Rating)

Asbury Automotive Group, Inc operates as a holding company, which engages in the automotive dealership. Its services include oil change, car brakes, changing tires, check engine light, battery, and wheel alignment. The company was founded in 1995 and is headquartered in Duluth, GA.

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