Research Analysts Set Expectations for AutoNation, Inc.’s Q3 2017 Earnings (AN)
AutoNation, Inc. (NYSE:AN) – Equities researchers at Northcoast Research dropped their Q3 2017 EPS estimates for shares of AutoNation in a research note issued on Wednesday. Northcoast Research analyst J. Healy now forecasts that the company will post earnings per share of $0.85 for the quarter, down from their prior estimate of $0.91. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for AutoNation’s FY2017 earnings at $3.62 EPS.
AutoNation (NYSE:AN) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.12). The company had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.56 billion. AutoNation had a net margin of 1.90% and a return on equity of 16.71%. AutoNation’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.08 earnings per share.
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Other research analysts also recently issued reports about the company. Berenberg Bank initiated coverage on AutoNation in a research report on Wednesday. They set a “buy” rating and a $55.00 price objective for the company. Jefferies Group LLC restated a “hold” rating and set a $49.00 price objective on shares of AutoNation in a research report on Thursday, July 6th. Deutsche Bank AG restated a “hold” rating and set a $46.00 price objective (down from $50.00) on shares of AutoNation in a research report on Thursday, June 22nd. ValuEngine downgraded AutoNation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, KeyCorp restated a “hold” rating on shares of AutoNation in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. AutoNation presently has an average rating of “Hold” and an average price target of $45.20.
Shares of AutoNation (NYSE:AN) opened at 47.53 on Thursday. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 11.84 and a beta of 1.21. AutoNation has a 52-week low of $38.20 and a 52-week high of $53.74. The stock has a 50 day moving average price of $45.59 and a 200-day moving average price of $42.25.
A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of AutoNation by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,890 shares of the company’s stock valued at $206,000 after buying an additional 24 shares during the period. Mason Street Advisors LLC grew its stake in shares of AutoNation by 0.9% during the 1st quarter. Mason Street Advisors LLC now owns 9,065 shares of the company’s stock valued at $383,000 after buying an additional 81 shares during the period. State of Tennessee Treasury Department grew its stake in shares of AutoNation by 0.5% during the 2nd quarter. State of Tennessee Treasury Department now owns 18,002 shares of the company’s stock valued at $759,000 after buying an additional 84 shares during the period. Meeder Asset Management Inc. grew its stake in shares of AutoNation by 0.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,819 shares of the company’s stock valued at $667,000 after buying an additional 89 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of AutoNation by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 16,291 shares of the company’s stock valued at $687,000 after buying an additional 100 shares during the period. 73.42% of the stock is owned by hedge funds and other institutional investors.
In other AutoNation news, Director Robert R. Grusky sold 2,800 shares of AutoNation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $38.99, for a total value of $109,172.00. Following the completion of the sale, the director now directly owns 30,713 shares of the company’s stock, valued at approximately $1,197,499.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by insiders.
AutoNation announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 29th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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