Analysts expect that Asbury Automotive Group, Inc. (NYSE:ABG) will announce $1.80 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Asbury Automotive Group’s earnings, with estimates ranging from $1.80 billion to $1.81 billion. Asbury Automotive Group posted sales of $1.72 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is expected to announce its next quarterly earnings results on Tuesday, July 23rd.
On average, analysts expect that Asbury Automotive Group will report full-year sales of $7.14 billion for the current financial year, with estimates ranging from $7.08 billion to $7.20 billion. For the next financial year, analysts anticipate that the company will post sales of $7.20 billion, with estimates ranging from $6.91 billion to $7.44 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Asbury Automotive Group.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.28. Asbury Automotive Group had a return on equity of 36.35% and a net margin of 2.43%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, May 14th. Morgan Stanley boosted their price objective on Asbury Automotive Group from $85.00 to $87.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $81.50.
Shares of NYSE:ABG traded down $0.52 during trading on Tuesday, reaching $79.84. 3,110 shares of the stock were exchanged, compared to its average volume of 108,990. Asbury Automotive Group has a 12 month low of $58.60 and a 12 month high of $82.30. The stock has a market cap of $1.54 billion, a PE ratio of 9.49, a P/E/G ratio of 0.62 and a beta of 1.21. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 1.85.
In other Asbury Automotive Group news, VP William Frederick Stax sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the transaction, the vice president now directly owns 3,888 shares in the company, valued at $307,735.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sean D. Goodman sold 3,299 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $79.77, for a total transaction of $263,161.23. Following the transaction, the chief financial officer now owns 26,183 shares of the company’s stock, valued at $2,088,617.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,599 shares of company stock valued at $2,589,539. Corporate insiders own 1.36% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its position in Asbury Automotive Group by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 7,592 shares of the company’s stock valued at $527,000 after purchasing an additional 137 shares in the last quarter. Mason Street Advisors LLC raised its position in Asbury Automotive Group by 2.9% during the first quarter. Mason Street Advisors LLC now owns 6,262 shares of the company’s stock valued at $434,000 after purchasing an additional 175 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Asbury Automotive Group by 26.1% during the first quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock worth $71,000 after buying an additional 209 shares in the last quarter. Piedmont Investment Advisors Inc. increased its holdings in shares of Asbury Automotive Group by 5.6% during the first quarter. Piedmont Investment Advisors Inc. now owns 4,922 shares of the company’s stock worth $341,000 after buying an additional 262 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of Asbury Automotive Group by 1.5% during the first quarter. Comerica Bank now owns 19,385 shares of the company’s stock worth $1,408,000 after buying an additional 286 shares in the last quarter.
Asbury Automotive Group Company Profile
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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