Analysts forecast that Asbury Automotive Group, Inc. (NYSE:ABG) will post sales of $1.70 billion for the current quarter, according to Zacks. Three analysts have made estimates for Asbury Automotive Group’s earnings, with the highest sales estimate coming in at $1.71 billion and the lowest estimate coming in at $1.69 billion. Asbury Automotive Group reported sales of $1.61 billion in the same quarter last year, which would suggest a positive year over year growth rate of 5.6%. The business is expected to announce its next quarterly earnings report on Tuesday, April 23rd.
On average, analysts expect that Asbury Automotive Group will report full-year sales of $7.16 billion for the current financial year, with estimates ranging from $7.00 billion to $7.26 billion. For the next financial year, analysts expect that the business will report sales of $7.24 billion, with estimates ranging from $6.88 billion to $7.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Asbury Automotive Group.
Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Wednesday, February 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.13. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.73 billion. Asbury Automotive Group had a return on equity of 37.38% and a net margin of 2.44%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 EPS.
A number of research firms have issued reports on ABG. Zacks Investment Research downgraded Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. ValuEngine upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Monday, December 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $76.80.
In other Asbury Automotive Group news, SVP Jed Milstein sold 1,000 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $69.41, for a total transaction of $69,410.00. Following the transaction, the senior vice president now owns 13,027 shares of the company’s stock, valued at approximately $904,204.07. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eugene S. Katz sold 5,000 shares of Asbury Automotive Group stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $71.00, for a total transaction of $355,000.00. Following the transaction, the director now directly owns 23,122 shares in the company, valued at approximately $1,641,662. The disclosure for this sale can be found here. Insiders have sold a total of 41,000 shares of company stock valued at $2,911,440 in the last quarter. Company insiders own 1.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its position in shares of Asbury Automotive Group by 2.7% during the 4th quarter. State of Alaska Department of Revenue now owns 6,554 shares of the company’s stock worth $436,000 after buying an additional 170 shares in the last quarter. Keybank National Association OH lifted its position in shares of Asbury Automotive Group by 1.5% during the 4th quarter. Keybank National Association OH now owns 13,175 shares of the company’s stock worth $878,000 after buying an additional 200 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Asbury Automotive Group by 29.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,419 shares of the company’s stock worth $95,000 after buying an additional 325 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Asbury Automotive Group by 31.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,611 shares of the company’s stock worth $107,000 after buying an additional 390 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of Asbury Automotive Group by 1.6% during the 3rd quarter. Teachers Advisors LLC now owns 38,059 shares of the company’s stock worth $2,617,000 after buying an additional 591 shares in the last quarter.
ABG stock traded up $0.93 during mid-day trading on Tuesday, reaching $68.78. 5,863 shares of the company traded hands, compared to its average volume of 192,541. The company has a market capitalization of $1.33 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 0.55 and a beta of 1.17. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.37 and a current ratio of 1.19. Asbury Automotive Group has a fifty-two week low of $58.60 and a fifty-two week high of $77.75.
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.
Featured Article: Special Dividends
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
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.