$3.84 Billion in Sales Expected for Asbury Automotive Group, Inc. (NYSE:ABG) This Quarter

Equities analysts expect Asbury Automotive Group, Inc. (NYSE:ABGGet Rating) to report sales of $3.84 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Asbury Automotive Group’s earnings, with the highest sales estimate coming in at $4.14 billion and the lowest estimate coming in at $3.35 billion. Asbury Automotive Group reported sales of $2.19 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 75.3%. The company is scheduled to announce its next earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Asbury Automotive Group will report full-year sales of $16.06 billion for the current financial year, with estimates ranging from $13.79 billion to $18.00 billion. For the next year, analysts expect that the company will report sales of $16.68 billion, with estimates ranging from $14.30 billion to $19.17 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research 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, topping analysts’ consensus estimates of $5.86 by $1.60. Asbury Automotive Group had a net margin of 5.41% and a return on equity of 39.45%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the firm earned $4.44 earnings per share. The firm’s quarterly revenue was up 18.8% on a year-over-year basis.

A number of brokerages recently issued reports on ABG. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $173.00 price target for the company in a research note on Wednesday, April 13th. Craig Hallum reduced their price objective on shares of Asbury Automotive Group from $250.00 to $225.00 in a research report on Wednesday, February 16th. StockNews.com assumed coverage on shares of Asbury Automotive Group in a research report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. reduced their price objective on shares of Asbury Automotive Group from $225.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, April 7th. Finally, Morgan Stanley boosted their price objective on shares of Asbury Automotive Group from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $206.60.

In other news, SVP Miran Maric sold 233 shares of Asbury Automotive Group stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $187.79, for a total value of $43,755.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Hult sold 23,848 shares of Asbury Automotive Group stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $195.81, for a total transaction of $4,669,676.88. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue increased its stake in Asbury Automotive Group by 16.2% in the 4th quarter. State of Alaska Department of Revenue now owns 16,385 shares of the company’s stock valued at $2,830,000 after buying an additional 2,285 shares during the period. Yousif Capital Management LLC acquired a new position in Asbury Automotive Group in the 4th quarter valued at $3,744,000. Bank of New York Mellon Corp increased its stake in Asbury Automotive Group by 6.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 238,591 shares of the company’s stock valued at $46,940,000 after buying an additional 14,385 shares during the period. Intrust Bank NA acquired a new position in Asbury Automotive Group in the 3rd quarter valued at $311,000. Finally, New York State Teachers Retirement System increased its stake in Asbury Automotive Group by 11.9% in the 4th quarter. New York State Teachers Retirement System now owns 18,375 shares of the company’s stock valued at $3,174,000 after buying an additional 1,961 shares during the period. 95.91% of the stock is currently owned by institutional investors.

Shares of Asbury Automotive Group stock opened at $153.66 on Monday. Asbury Automotive Group has a 52-week low of $146.43 and a 52-week high of $230.96. The business has a 50 day moving average price of $175.80. 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 stock has a market capitalization of $3.56 billion, a P/E ratio of 5.79, a P/E/G ratio of 0.24 and a beta of 1.39.

About Asbury Automotive Group (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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