Asbury Automotive Group, Inc. (NYSE:ABG) Expected to Announce Earnings of $4.36 Per Share

Wall Street analysts expect Asbury Automotive Group, Inc. (NYSE:ABG) to report earnings of $4.36 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Asbury Automotive Group’s earnings, with the lowest EPS estimate coming in at $3.93 and the highest estimate coming in at $4.77. Asbury Automotive Group reported earnings of $2.52 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 73%. The firm is expected to issue its next quarterly earnings report on Tuesday, July 27th.

According to Zacks, analysts expect that Asbury Automotive Group will report full-year earnings of $17.49 per share for the current year, with EPS estimates ranging from $16.80 to $18.00. For the next fiscal year, analysts expect that the firm will report earnings of $17.19 per share, with EPS estimates ranging from $16.07 to $19.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Monday, April 26th. The company reported $4.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.51 by $1.17. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.04 billion. Asbury Automotive Group had a return on equity of 35.56% and a net margin of 4.25%. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.80 earnings per share.

A number of equities research analysts have issued reports on ABG shares. Truist increased their price objective on shares of Asbury Automotive Group from $180.00 to $210.00 in a research note on Wednesday, April 28th. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $229.00 price objective on the stock in a research note on Wednesday, April 28th. Truist Securities boosted their price objective on shares of Asbury Automotive Group from $180.00 to $210.00 in a research report on Wednesday, April 28th. Craig Hallum raised their target price on Asbury Automotive Group from $180.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. Finally, Morgan Stanley boosted their price target on Asbury Automotive Group from $180.00 to $196.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Asbury Automotive Group presently has a consensus rating of “Buy” and a consensus price target of $179.89.

Shares of NYSE ABG traded up $3.04 during mid-day trading on Monday, reaching $161.31. The company had a trading volume of 224,516 shares, compared to its average volume of 184,118. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 0.49 and a beta of 1.72. The company has a 50-day moving average price of $196.29. Asbury Automotive Group has a one year low of $88.74 and a one year high of $216.88. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.52 and a current ratio of 1.26.

Institutional investors and hedge funds have recently made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in shares of Asbury Automotive Group in the first quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd acquired a new position in Asbury Automotive Group in the 1st quarter valued at approximately $31,000. Vantage Consulting Group Inc bought a new position in shares of Asbury Automotive Group during the fourth quarter valued at $34,000. FORA Capital LLC bought a new position in shares of Asbury Automotive Group during the first quarter valued at $55,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Asbury Automotive Group during the fourth quarter worth $72,000.

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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Earnings History and Estimates for Asbury Automotive Group (NYSE:ABG)

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