Brokerages predict that Asbury Automotive Group, Inc. (NYSE:ABG) will post $1.80 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Asbury Automotive Group’s earnings. The lowest sales estimate is $1.79 billion and the highest is $1.80 billion. Asbury Automotive Group reported sales of $1.72 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The company is scheduled to report its next quarterly earnings report before the market opens on Friday, July 26th.

According to Zacks, analysts expect that Asbury Automotive Group will report full-year sales of $7.11 billion for the current financial year, with estimates ranging from $7.03 billion to $7.18 billion. For the next financial year, analysts forecast that the firm will report sales of $7.18 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 sell-side research analysts that that provide coverage for Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.28. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.93 EPS.

Several brokerages recently issued reports on ABG. Morgan Stanley lifted their price objective on Sonic Automotive from $10.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. began coverage on Pinduoduo in a research report on Tuesday. They set an “underweight” rating and a $20.48 price objective for the company. Craig Hallum upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Wednesday, April 24th. Finally, Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $84.00.

Shares of Asbury Automotive Group stock traded up $0.46 during trading on Thursday, hitting $84.29. 1,442 shares of the company were exchanged, compared to its average volume of 159,918. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.15 and a quick ratio of 0.33. Asbury Automotive Group has a fifty-two week low of $58.60 and a fifty-two week high of $87.16. The stock has a market cap of $1.63 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 0.66 and a beta of 1.25. The stock has a 50 day moving average of $80.39.

In other Asbury Automotive Group news, CEO David W. Hult sold 15,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $79.25, for a total value of $1,188,750.00. Following the completion of the transaction, the chief executive officer now directly owns 25,703 shares in the company, valued at approximately $2,036,962.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eugene S. Katz sold 3,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $80.70, for a total value of $242,100.00. Following the completion of the transaction, the director now owns 20,122 shares of the company’s stock, valued at $1,623,845.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,599 shares of company stock valued at $2,589,539 over the last 90 days. Insiders own 1.36% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its holdings in Asbury Automotive Group by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 7,592 shares of the company’s stock valued at $527,000 after acquiring an additional 137 shares during the last quarter. Mason Street Advisors LLC raised its holdings in Asbury Automotive Group by 2.9% in the 1st quarter. Mason Street Advisors LLC now owns 6,262 shares of the company’s stock valued at $434,000 after acquiring an additional 175 shares during the last quarter. Bank of Montreal Can raised its holdings in Asbury Automotive Group by 26.1% in the 1st quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock valued at $71,000 after acquiring an additional 209 shares during the last quarter. Piedmont Investment Advisors Inc. raised its holdings in Asbury Automotive Group by 5.6% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 4,922 shares of the company’s stock valued at $341,000 after acquiring an additional 262 shares during the last quarter. Finally, Comerica Bank raised its holdings in Asbury Automotive Group by 1.5% in the 1st quarter. Comerica Bank now owns 19,385 shares of the company’s stock valued at $1,408,000 after acquiring an additional 286 shares during the last quarter.

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

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