Zacks: Analysts Anticipate Asbury Automotive Group, Inc. (NYSE:ABG) to Post $2.26 Earnings Per Share

Brokerages forecast that Asbury Automotive Group, Inc. (NYSE:ABG) will report $2.26 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Asbury Automotive Group’s earnings, with the highest EPS estimate coming in at $2.55 and the lowest estimate coming in at $2.17. Asbury Automotive Group reported earnings per share of $2.08 during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.7%. The company is expected to issue its next quarterly earnings report on Tuesday, July 23rd.

According to Zacks, analysts expect that Asbury Automotive Group will report full-year earnings of $9.00 per share for the current year, with EPS estimates ranging from $8.71 to $9.76. For the next year, analysts anticipate that the business will report earnings of $9.19 per share, with EPS estimates ranging from $8.75 to $10.22. 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:ABG) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.28. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.67 billion. Asbury Automotive Group had a return on equity of 36.35% and a net margin of 2.43%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted $1.93 EPS.

ABG has been the topic of several research reports. Zacks Investment Research cut Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Monday, June 10th. 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 research note on Monday, May 6th. Finally, Craig Hallum raised Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Asbury Automotive Group currently has a consensus rating of “Hold” and an average price target of $81.50.

NYSE:ABG traded down $0.55 on Friday, reaching $79.81. 85,194 shares of the company’s stock traded hands, compared to its average volume of 108,874. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 1.85. The stock has a market cap of $1.55 billion, a PE ratio of 9.49, a P/E/G ratio of 0.62 and a beta of 1.21. Asbury Automotive Group has a 12 month low of $58.60 and a 12 month high of $82.30.

In other Asbury Automotive Group news, SVP Jed Milstein sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $78.36, for a total transaction of $101,868.00. Following the completion of the transaction, the senior vice president now owns 11,727 shares in the company, valued at $918,927.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Hult sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $79.25, for a total value of $1,188,750.00. Following the transaction, the chief executive officer now owns 25,703 shares of the company’s stock, valued at approximately $2,036,962.75. The disclosure for this sale can be found here. Insiders have sold 32,599 shares of company stock valued at $2,589,539 in the last 90 days. Company insiders own 1.36% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC boosted its holdings in shares of Asbury Automotive Group by 34.1% in the first quarter. Janney Montgomery Scott LLC now owns 28,197 shares of the company’s stock valued at $1,956,000 after purchasing an additional 7,166 shares during the period. Chicago Equity Partners LLC boosted its holdings in shares of Asbury Automotive Group by 2.9% in the fourth quarter. Chicago Equity Partners LLC now owns 95,785 shares of the company’s stock valued at $6,385,000 after purchasing an additional 2,700 shares during the period. Rhumbline Advisers boosted its holdings in shares of Asbury Automotive Group by 16.1% in the fourth quarter. Rhumbline Advisers now owns 60,298 shares of the company’s stock valued at $4,019,000 after purchasing an additional 8,342 shares during the period. Martingale Asset Management L P boosted its holdings in shares of Asbury Automotive Group by 31.7% in the fourth quarter. Martingale Asset Management L P now owns 78,512 shares of the company’s stock valued at $5,234,000 after purchasing an additional 18,898 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Asbury Automotive Group by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,657 shares of the company’s stock valued at $444,000 after purchasing an additional 5,199 shares during the period.

About Asbury Automotive Group

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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