Asbury Automotive Group, Inc. (ABG) Expected to Announce Earnings of $2.04 Per Share

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Wall Street analysts predict that Asbury Automotive Group, Inc. (NYSE:ABG) will post earnings per share of $2.04 for the current quarter, Zacks reports. Two analysts have made estimates for Asbury Automotive Group’s earnings. The highest EPS estimate is $2.14 and the lowest is $1.98. Asbury Automotive Group reported earnings per share of $1.81 in the same quarter last year, which indicates a positive year-over-year growth rate of 12.7%. The company is expected to issue its next earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Asbury Automotive Group will report full year earnings of $8.28 per share for the current financial year, with EPS estimates ranging from $8.20 to $8.38. For the next financial year, analysts forecast that the firm will post earnings of $8.44 per share, with EPS estimates ranging from $8.15 to $8.76. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, October 23rd. The company reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.33. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Asbury Automotive Group had a net margin of 2.52% and a return on equity of 37.83%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 EPS.

ABG has been the subject of several research analyst reports. ValuEngine upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Morgan Stanley upped their target price on shares of Asbury Automotive Group from $71.00 to $81.00 and gave the company a “sell” rating in a research note on Wednesday, November 14th. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Tuesday, September 25th. Buckingham Research increased their price objective on shares of Asbury Automotive Group from $70.00 to $74.00 and gave the company a “hold” rating in a research note on Wednesday, October 24th. Finally, SunTrust Banks dropped their price objective on shares of Asbury Automotive Group to $70.00 and set a “hold” rating for the company in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Asbury Automotive Group currently has a consensus rating of “Hold” and an average price target of $73.40.

NYSE:ABG traded up $0.25 during trading hours on Friday, hitting $64.17. 21,200 shares of the company traded hands, compared to its average volume of 229,145. The stock has a market cap of $1.26 billion, a P/E ratio of 9.98, a PEG ratio of 0.49 and a beta of 1.46. Asbury Automotive Group has a twelve month low of $58.60 and a twelve month high of $77.75. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.21 and a quick ratio of 0.36.

Several hedge funds have recently made changes to their positions in ABG. Principal Financial Group Inc. raised its stake in shares of Asbury Automotive Group by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 145,557 shares of the company’s stock valued at $9,825,000 after buying an additional 2,999 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Asbury Automotive Group in the 2nd quarter valued at $227,000. TD Asset Management Inc. increased its position in shares of Asbury Automotive Group by 1,362.5% during the 2nd quarter. TD Asset Management Inc. now owns 46,800 shares of the company’s stock worth $3,208,000 after purchasing an additional 43,600 shares in the last quarter. IndexIQ Advisors LLC increased its position in shares of Asbury Automotive Group by 5.7% during the 2nd quarter. IndexIQ Advisors LLC now owns 32,405 shares of the company’s stock worth $2,221,000 after purchasing an additional 1,752 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Asbury Automotive Group during the 2nd quarter worth about $266,000.

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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