Equities analysts expect Asbury Automotive Group, Inc. (NYSE:ABG) to report sales of $1.85 billion for the current quarter, Zacks reports. Three analysts have made estimates for Asbury Automotive Group’s earnings, with estimates ranging from $1.83 billion to $1.87 billion. Asbury Automotive Group posted sales of $1.76 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.1%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, October 22nd.
On average, analysts expect that Asbury Automotive Group will report full-year sales of $7.21 billion for the current fiscal year, with estimates ranging from $7.17 billion to $7.24 billion. For the next fiscal year, analysts forecast that the company 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 sell-side analysts that that provide coverage for Asbury Automotive Group.
Asbury Automotive Group (NYSE:ABG) last released its earnings results on Friday, July 26th. The company reported $2.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.11. Asbury Automotive Group had a net margin of 2.57% and a return on equity of 35.08%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm earned $2.08 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year.
In other Asbury Automotive Group news, VP William Frederick Stax sold 424 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $90.35, for a total value of $38,308.40. Following the sale, the vice president now owns 3,464 shares of the company’s stock, valued at approximately $312,972.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jed Milstein sold 900 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $92.52, for a total transaction of $83,268.00. Following the completion of the sale, the senior vice president now directly owns 10,374 shares in the company, valued at approximately $959,802.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,324 shares of company stock worth $947,466. 1.36% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new stake in shares of Asbury Automotive Group in the 2nd quarter worth about $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Asbury Automotive Group in the 2nd quarter worth about $60,000. Bank of Montreal Can lifted its position in shares of Asbury Automotive Group by 26.1% in the 1st quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock worth $71,000 after purchasing an additional 209 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in shares of Asbury Automotive Group in the 1st quarter worth about $110,000. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Asbury Automotive Group in the 2nd quarter worth about $182,000.
Shares of ABG stock traded up $1.08 on Monday, hitting $91.65. 1,940 shares of the company’s stock traded hands, compared to its average volume of 155,842. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.34 and a current ratio of 1.20. Asbury Automotive Group has a one year low of $58.60 and a one year high of $95.14. The company’s fifty day simple moving average is $88.39 and its 200 day simple moving average is $78.24. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 0.69 and a beta of 1.25.
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.
Featured Article: CD Ladder
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Asbury Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.