Autobytel Inc. (ABTL) Expected to Announce Quarterly Sales of $37.21 Million
Wall Street analysts expect Autobytel Inc. (NASDAQ:ABTL) to report $37.21 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Autobytel’s earnings. The lowest sales estimate is $36.92 million and the highest is $37.51 million. Autobytel reported sales of $43.91 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 15.3%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Autobytel will report full year sales of $37.21 million for the current financial year, with estimates ranging from $144.00 million to $144.36 million. For the next year, analysts anticipate that the business will post sales of $149.94 million per share, with estimates ranging from $149.88 million to $150.00 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Autobytel.
Autobytel (NASDAQ:ABTL) last announced its earnings results on Thursday, August 3rd. The information services provider reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.07. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate of $34.30 million. Autobytel had a return on equity of 10.96% and a net margin of 3.15%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS.
Several analysts recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $12.00 target price on shares of Autobytel in a research note on Wednesday, August 9th. Zacks Investment Research cut Autobytel from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. ValuEngine cut Autobytel from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Barrington Research cut Autobytel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 4th.
Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Autobytel by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 279,875 shares of the information services provider’s stock worth $3,507,000 after buying an additional 1,680 shares during the period. Renaissance Technologies LLC lifted its holdings in Autobytel by 70.1% in the first quarter. Renaissance Technologies LLC now owns 94,400 shares of the information services provider’s stock worth $1,183,000 after buying an additional 38,900 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Autobytel by 89.5% in the first quarter. Goldman Sachs Group Inc. now owns 47,384 shares of the information services provider’s stock worth $594,000 after buying an additional 22,375 shares during the period. LMR Partners LLP purchased a new stake in Autobytel in the second quarter worth about $314,000. Finally, Globeflex Capital L P lifted its holdings in Autobytel by 888.9% in the second quarter. Globeflex Capital L P now owns 80,545 shares of the information services provider’s stock worth $1,016,000 after buying an additional 72,400 shares during the period. Institutional investors and hedge funds own 58.59% of the company’s stock.
Autobytel (NASDAQ ABTL) opened at 7.02 on Friday. The stock has a 50 day moving average price of $7.54 and a 200-day moving average price of $10.95. The firm has a market capitalization of $77.37 million, a P/E ratio of 24.21 and a beta of 0.97. Autobytel has a 52 week low of $6.63 and a 52 week high of $17.85.
Autobytel announced that its Board of Directors has approved a stock buyback program on Wednesday, September 6th that authorizes the company to repurchase $3.00 million in shares. This repurchase authorization authorizes the information services provider to repurchase up to 34% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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Autobytel Company Profile
Autobytel Inc is an automotive marketing services company that assists automotive retail dealers and automotive manufacturers market and sell new and used vehicles to consumers through the programs for online lead referrals, dealer marketing products and services, and online advertising programs and mobile products.
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