Asbury Automotive Group, Inc. (ABG) Expected to Post Quarterly Sales of $1.68 Billion

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Brokerages expect that Asbury Automotive Group, Inc. (NYSE:ABG) will report sales of $1.68 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Asbury Automotive Group’s earnings, with the highest sales estimate coming in at $1.69 billion and the lowest estimate coming in at $1.67 billion. Asbury Automotive Group reported sales of $1.63 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The firm is expected to announce its next quarterly earnings report on Tuesday, July 24th.

On average, analysts expect that Asbury Automotive Group will report full-year sales of $6.67 billion for the current year, with estimates ranging from $6.59 billion to $6.78 billion. For the next fiscal year, analysts expect that the company will report sales of $6.73 billion per share, with estimates ranging from $6.61 billion to $6.99 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, April 24th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Asbury Automotive Group had a net margin of 2.23% and a return on equity of 38.22%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 earnings per share.

A number of analysts have recently commented on ABG shares. Zacks Investment Research cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. ValuEngine cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Buckingham Research boosted their target price on shares of Asbury Automotive Group from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Finally, Morgan Stanley boosted their target price on shares of Asbury Automotive Group from $53.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $67.33.

ABG stock opened at $74.80 on Friday. The stock has a market cap of $1.55 billion, a PE ratio of 11.63, a P/E/G ratio of 1.07 and a beta of 1.54. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.20 and a quick ratio of 0.38. Asbury Automotive Group has a 52 week low of $49.10 and a 52 week high of $76.50.

In related news, SVP George A. Villasana sold 13,263 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $73.38, for a total transaction of $973,238.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas C. Deloach, Jr. sold 15,000 shares of the business’s stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $73.51, for a total transaction of $1,102,650.00. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Asbury Automotive Group by 0.8% during the fourth quarter. BlackRock Inc. now owns 2,517,622 shares of the company’s stock worth $161,128,000 after acquiring an additional 20,767 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in Asbury Automotive Group by 1.8% in the 1st quarter. Neuberger Berman Group LLC now owns 1,261,699 shares of the company’s stock valued at $85,165,000 after purchasing an additional 21,789 shares during the last quarter. Abrams Capital Management L.P. boosted its holdings in Asbury Automotive Group by 8.5% in the 4th quarter. Abrams Capital Management L.P. now owns 1,085,091 shares of the company’s stock valued at $69,446,000 after purchasing an additional 85,091 shares during the last quarter. Burgundy Asset Management Ltd. boosted its holdings in Asbury Automotive Group by 2.3% in the 4th quarter. Burgundy Asset Management Ltd. now owns 842,303 shares of the company’s stock valued at $53,907,000 after purchasing an additional 18,830 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Asbury Automotive Group by 14.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 722,090 shares of the company’s stock valued at $46,214,000 after purchasing an additional 90,927 shares during the last quarter.

Asbury Automotive Group Company Profile

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.

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Earnings History and Estimates for Asbury Automotive Group (NYSE:ABG)

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