$1.85 Billion in Sales Expected for Asbury Automotive Group, Inc. (NYSE:ABG) This Quarter

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.

ABG has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Asbury Automotive Group from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. ValuEngine lowered shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Thursday, August 1st. Morgan Stanley increased their target price on shares of Asbury Automotive Group from $86.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Craig Hallum increased their target price on shares of Asbury Automotive Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $90.00.

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.

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