Asbury Automotive Group (ABG) Posts Earnings Results, Beats Expectations By $0.21 EPS

Asbury Automotive Group (NYSE:ABG) issued its earnings results on Tuesday, February 6th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21, Bloomberg Earnings reports. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. Asbury Automotive Group had a return on equity of 42.06% and a net margin of 2.15%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $1.56 EPS.

Asbury Automotive Group (NYSE:ABG) traded down $1.50 during trading hours on Tuesday, reaching $67.65. The company had a trading volume of 10,183 shares, compared to its average volume of 228,467. The firm has a market capitalization of $1,439.54, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 0.88 and a beta of 1.58. Asbury Automotive Group has a fifty-two week low of $49.10 and a fifty-two week high of $76.40. The company has a quick ratio of 0.38, a current ratio of 1.25 and a debt-to-equity ratio of 2.60.

In other Asbury Automotive Group news, Director Craig T. Monaghan sold 28,575 shares of Asbury Automotive Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $68.70, for a total value of $1,963,102.50. Following the completion of the transaction, the director now directly owns 86,112 shares in the company, valued at $5,915,894.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Craig T. Monaghan sold 15,000 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $68.57, for a total value of $1,028,550.00. Following the completion of the transaction, the director now owns 86,112 shares of the company’s stock, valued at $5,904,699.84. The disclosure for this sale can be found here. Insiders sold 45,075 shares of company stock valued at $3,090,893 over the last quarter. Insiders own 11.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Asbury Automotive Group by 6.2% in the second quarter. BlackRock Inc. now owns 2,671,470 shares of the company’s stock valued at $151,072,000 after acquiring an additional 156,996 shares during the period. Vanguard Group Inc. raised its holdings in shares of Asbury Automotive Group by 3.5% during the second quarter. Vanguard Group Inc. now owns 1,840,061 shares of the company’s stock valued at $104,055,000 after buying an additional 62,905 shares during the last quarter. Burgundy Asset Management Ltd. raised its holdings in shares of Asbury Automotive Group by 2.3% during the fourth quarter. Burgundy Asset Management Ltd. now owns 842,303 shares of the company’s stock valued at $53,907,000 after buying an additional 18,830 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Asbury Automotive Group by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 838,733 shares of the company’s stock valued at $51,247,000 after buying an additional 18,156 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Asbury Automotive Group by 4.4% during the second quarter. State Street Corp now owns 592,006 shares of the company’s stock valued at $33,477,000 after buying an additional 24,719 shares during the last quarter.

Several research firms have commented on ABG. Zacks Investment Research raised Asbury Automotive Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price objective on the stock in a research report on Friday. Craig Hallum lifted their target price on Asbury Automotive Group from $55.00 to $67.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $63.40.

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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 for Asbury Automotive Group (NYSE:ABG)

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