$1.96 EPS Expected for Asbury Automotive Group, Inc. (ABG) This Quarter

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Wall Street analysts expect that Asbury Automotive Group, Inc. (NYSE:ABG) will post earnings of $1.96 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Asbury Automotive Group’s earnings, with the lowest EPS estimate coming in at $1.90 and the highest estimate coming in at $2.01. Asbury Automotive Group reported earnings per share of $1.93 during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.6%. The business is expected to issue its next quarterly earnings results on Tuesday, April 23rd.

According to Zacks, analysts expect that Asbury Automotive Group will report full year earnings of $8.61 per share for the current fiscal year, with EPS estimates ranging from $8.40 to $8.87. For the next fiscal year, analysts anticipate that the business will report earnings of $8.94 per share, with EPS estimates ranging from $8.40 to $9.45. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Wednesday, February 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.13. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.73 billion. Asbury Automotive Group had a return on equity of 37.38% and a net margin of 2.44%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.81 earnings per share.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research lowered Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. ValuEngine upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Monday, December 17th. Finally, JPMorgan Chase & Co. assumed coverage on Asbury Automotive Group in a research note on Tuesday, February 19th. They set a “neutral” rating and a $82.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Asbury Automotive Group presently has a consensus rating of “Hold” and an average price target of $76.80.

Shares of NYSE ABG traded up $0.93 during trading hours on Friday, reaching $68.78. 5,863 shares of the stock were exchanged, compared to its average volume of 192,541. The firm has a market cap 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 current ratio of 1.19, a quick ratio of 0.37 and a debt-to-equity ratio of 1.83. Asbury Automotive Group has a 52 week low of $58.60 and a 52 week high of $77.75.

In related news, Director Dennis E. Clements sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $71.10, for a total transaction of $1,422,000.00. Following the sale, the director now owns 6,883 shares of the company’s stock, valued at $489,381.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jed Milstein sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $69.41, for a total value of $69,410.00. Following the sale, the senior vice president now directly owns 13,027 shares in the company, valued at approximately $904,204.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,000 shares of company stock worth $2,911,440. 1.90% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of ABG. Bank of New York Mellon Corp grew its position in Asbury Automotive Group by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 266,959 shares of the company’s stock worth $18,300,000 after buying an additional 8,081 shares in the last quarter. Texas Permanent School Fund grew its position in Asbury Automotive Group by 8.1% during the third quarter. Texas Permanent School Fund now owns 12,806 shares of the company’s stock worth $880,000 after buying an additional 955 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Asbury Automotive Group by 55.6% in the 3rd quarter. First Trust Advisors LP now owns 33,307 shares of the company’s stock valued at $2,290,000 after purchasing an additional 11,900 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Asbury Automotive Group by 10.5% in the 3rd quarter. Arizona State Retirement System now owns 29,525 shares of the company’s stock valued at $2,030,000 after purchasing an additional 2,795 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Asbury Automotive Group by 19.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 9,593 shares of the company’s stock valued at $660,000 after purchasing an additional 1,580 shares in 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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