Asbury Automotive Group, Inc. Forecasted to Earn Q1 2024 Earnings of $7.82 Per Share (NYSE:ABG)

Asbury Automotive Group, Inc. (NYSE:ABG) – Seaport Res Ptn lifted their Q1 2024 EPS estimates for Asbury Automotive Group in a research note issued to investors on Friday, April 19th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings per share of $7.82 for the quarter, up from their prior forecast of $7.81. The consensus estimate for Asbury Automotive Group’s current full-year earnings is $31.46 per share.

Separately, Craig Hallum cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Thursday, February 8th.

Asbury Automotive Group Stock Performance

Shares of Asbury Automotive Group stock opened at $222.41 on Monday. The firm’s fifty day simple moving average is $216.86 and its 200-day simple moving average is $213.08. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 7.77 and a beta of 1.18. Asbury Automotive Group has a 12 month low of $178.40 and a 12 month high of $256.39. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 0.45.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Thursday, February 8th. The company reported $7.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.74 by ($0.62). Asbury Automotive Group had a return on equity of 21.68% and a net margin of 4.07%. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the firm earned $9.12 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $209.00, for a total value of $826,595.00. Following the transaction, the senior vice president now directly owns 8,300 shares of the company’s stock, valued at approximately $1,734,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Asbury Automotive Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,319,293 shares of the company’s stock valued at $521,771,000 after purchasing an additional 10,656 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Asbury Automotive Group by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 894,595 shares of the company’s stock valued at $201,261,000 after acquiring an additional 65,872 shares during the last quarter. Eminence Capital LP increased its stake in shares of Asbury Automotive Group by 27.2% during the 4th quarter. Eminence Capital LP now owns 328,093 shares of the company’s stock valued at $73,811,000 after acquiring an additional 70,089 shares during the last quarter. Norges Bank acquired a new position in shares of Asbury Automotive Group during the 4th quarter valued at about $67,417,000. Finally, Brave Warrior Advisors LLC increased its stake in shares of Asbury Automotive Group by 1.1% during the 4th quarter. Brave Warrior Advisors LLC now owns 278,367 shares of the company’s stock valued at $62,624,000 after acquiring an additional 3,101 shares during the last quarter.

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.