Analysts predict that Asbury Automotive Group, Inc. (NYSE:ABG) will announce sales of $1.85 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Asbury Automotive Group’s earnings. The lowest sales estimate is $1.83 billion and the highest is $1.87 billion. Asbury Automotive Group posted sales of $1.76 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.1%. The company is scheduled to report its next earnings report on Tuesday, October 22nd.

On average, analysts expect that Asbury Automotive Group will report full year sales of $7.21 billion for the current financial year, with estimates ranging from $7.17 billion to $7.24 billion. For the next fiscal year, analysts forecast that the business will post sales of $7.34 billion, with estimates ranging from $7.21 billion to $7.47 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.11. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.80 billion. Asbury Automotive Group had a net margin of 2.57% and a return on equity of 35.08%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 earnings per share.

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Asbury Automotive Group from $86.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Asbury Automotive Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. ValuEngine downgraded shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Thursday, August 1st. Finally, Craig Hallum upped their price objective on shares of Asbury Automotive Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Asbury Automotive Group has a consensus rating of “Hold” and a consensus target price of $90.00.

In related news, Director Thomas C. Deloach, Jr. sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $91.71, for a total value of $733,680.00. Following the completion of the transaction, the director now directly owns 17,703 shares of the company’s stock, valued at $1,623,542.13. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William Frederick Stax sold 424 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $90.35, for a total transaction of $38,308.40. Following the completion of the transaction, the vice president now directly owns 3,464 shares of the company’s stock, valued at $312,972.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,324 shares of company stock valued at $1,129,466. Insiders own 1.36% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ABG. BNP Paribas Arbitrage SA raised its stake in Asbury Automotive Group by 251.1% in the first quarter. BNP Paribas Arbitrage SA now owns 5,638 shares of the company’s stock worth $391,000 after buying an additional 4,032 shares in the last quarter. Bank of Montreal Can raised its stake in Asbury Automotive Group by 26.1% in the first quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock worth $71,000 after buying an additional 209 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Asbury Automotive Group by 34.1% in the first quarter. Janney Montgomery Scott LLC now owns 28,197 shares of the company’s stock worth $1,956,000 after buying an additional 7,166 shares in the last quarter. Rhumbline Advisers raised its stake in Asbury Automotive Group by 1.0% in the first quarter. Rhumbline Advisers now owns 60,910 shares of the company’s stock worth $4,225,000 after buying an additional 612 shares in the last quarter. Finally, Comerica Bank raised its stake in Asbury Automotive Group by 1.5% in the first quarter. Comerica Bank now owns 19,385 shares of the company’s stock worth $1,408,000 after buying an additional 286 shares in the last quarter.

Shares of NYSE:ABG traded down $1.00 during midday trading on Tuesday, hitting $100.80. 3,858 shares of the stock traded hands, compared to its average volume of 125,749. The stock has a market capitalization of $1.96 billion, a PE ratio of 11.99, a P/E/G ratio of 0.76 and a beta of 1.25. The business’s 50 day moving average is $92.55 and its two-hundred day moving average is $80.71. The company has a quick ratio of 0.34, a current ratio of 1.20 and a debt-to-equity ratio of 1.68. Asbury Automotive Group has a one year low of $58.60 and a one year high of $103.92.

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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