Zacks: Brokerages Expect Asbury Automotive Group, Inc. (ABG) Will Post Earnings of $1.60 Per Share
Equities research analysts expect that Asbury Automotive Group, Inc. (NYSE:ABG) will report $1.60 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Asbury Automotive Group’s earnings, with estimates ranging from $1.55 to $1.65. Asbury Automotive Group reported earnings of $1.56 per share in the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The business is expected to report its next earnings report on Tuesday, February 6th.
According to Zacks, analysts expect that Asbury Automotive Group will report full year earnings of $6.25 per share for the current financial year, with EPS estimates ranging from $6.19 to $6.38. For the next year, analysts forecast that the business will report earnings of $6.43 per share, with EPS estimates ranging from $6.19 to $6.70. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Asbury Automotive Group.
Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, October 24th. The company reported $1.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.09). Asbury Automotive Group had a net margin of 2.54% and a return on equity of 42.24%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company earned $1.52 earnings per share. Asbury Automotive Group’s revenue for the quarter was down 4.8% compared to the same quarter last year.
Shares of Asbury Automotive Group (ABG) traded down $1.30 during mid-day trading on Friday, reaching $65.15. 157,900 shares of the company’s stock were exchanged, compared to its average volume of 237,708. Asbury Automotive Group has a 1 year low of $49.10 and a 1 year high of $71.00. The company has a market capitalization of $1,383.34, a PE ratio of 10.72, a PEG ratio of 1.19 and a beta of 1.56. The company has a current ratio of 1.25, a quick ratio of 0.38 and a debt-to-equity ratio of 2.60.
In other Asbury Automotive Group news, Director Juanita T. James sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $66.16, for a total value of $99,240.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig T. Monaghan sold 16,096 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $61.08, for a total transaction of $983,143.68. Following the completion of the transaction, the chief executive officer now directly owns 125,408 shares in the company, valued at $7,659,920.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 265,884 shares of company stock worth $16,426,020. Insiders own 11.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ABG. Victory Capital Management Inc. boosted its position in shares of Asbury Automotive Group by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,205 shares of the company’s stock worth $125,000 after purchasing an additional 331 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Asbury Automotive Group during the third quarter worth $223,000. Public Employees Retirement System of Ohio boosted its position in shares of Asbury Automotive Group by 10.2% during the second quarter. Public Employees Retirement System of Ohio now owns 3,673 shares of the company’s stock worth $208,000 after purchasing an additional 340 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Asbury Automotive Group during the second quarter worth $220,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Asbury Automotive Group during the second quarter worth $230,000.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.
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