Asbury Automotive Group (ABG) Set to Announce Quarterly Earnings on Tuesday

Asbury Automotive Group (NYSE:ABG) is set to issue its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $6.78 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing analysts’ consensus estimates of $7.31 by ($0.91). Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the previous year, the company earned $8.95 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, analysts expect Asbury Automotive Group to post $26 EPS for the current fiscal year and $29 EPS for the next fiscal year.

Asbury Automotive Group Stock Down 1.0 %

ABG stock opened at $222.87 on Friday. Asbury Automotive Group has a 1-year low of $184.47 and a 1-year high of $277.13. The business has a fifty day moving average price of $229.87 and a 200-day moving average price of $231.19. The stock has a market capitalization of $4.50 billion, a P/E ratio of 8.12 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.25 and a quick ratio of 0.45.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ABG shares. Bank of America reduced their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. StockNews.com downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Stephens initiated coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $216.00 target price on the stock. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. raised their price objective on Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Asbury Automotive Group currently has an average rating of “Hold” and a consensus target price of $251.20.

Insider Activity

In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the transaction, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the completion of the transaction, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David W. Hult sold 500 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the sale, the chief executive officer now owns 56,834 shares in the company, valued at approximately $12,911,548.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Asbury Automotive Group Company Profile

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.