Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, February 7th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.14. Asbury Automotive Group had a return on equity of 57.45% and a net margin of 2.56%. The business earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the business posted $1.31 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis.
Asbury Automotive Group Inc (NYSE:ABG) – Jefferies Group reduced their Q2 2017 earnings estimates for shares of Asbury Automotive Group in a note issued to investors on Tuesday. Jefferies Group analyst B. Jordan now forecasts that the firm will earn $1.69 per share for the quarter, down from their prior forecast of $1.70. Jefferies Group currently has a “Hold” rating and a $73.00 target price on the stock. Jefferies Group also issued estimates for Asbury Automotive Group’s Q3 2017 earnings at $1.61 EPS, Q4 2017 earnings at $1.58 EPS, FY2017 earnings at $6.37 EPS, Q2 2018 earnings at $1.76 EPS, Q3 2018 earnings at $1.67 EPS, Q4 2018 earnings at $1.64 EPS and FY2018 earnings at $6.61 EPS.
Separately, Zacks Investment Research lowered Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Monday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $67.50.
Shares of Asbury Automotive Group (NYSE:ABG) remained flat at $65.65 on Thursday. 18,315 shares of the company’s stock traded hands. The stock has a 50-day moving average of $64.00 and a 200-day moving average of $57.87. Asbury Automotive Group has a 52-week low of $47.50 and a 52-week high of $71.00. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 8.87 and a beta of 1.33.
In other news, CEO Craig T. Monaghan sold 24,000 shares of the company’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $62.09, for a total value of $1,490,160.00. Following the completion of the sale, the chief executive officer now owns 121,463 shares in the company, valued at $7,541,637.67. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Morgan Stanley raised its stake in shares of Asbury Automotive Group by 14.0% in the third quarter. Morgan Stanley now owns 1,348,719 shares of the company’s stock worth $75,083,000 after buying an additional 165,736 shares during the period. Burgundy Asset Management Ltd. raised its stake in shares of Asbury Automotive Group by 44.9% in the second quarter. Burgundy Asset Management Ltd. now owns 1,128,645 shares of the company’s stock worth $59,525,000 after buying an additional 349,528 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of Asbury Automotive Group by 10.7% in the third quarter. TimesSquare Capital Management LLC now owns 717,750 shares of the company’s stock worth $39,957,000 after buying an additional 69,500 shares during the period. UBS Group AG raised its stake in shares of Asbury Automotive Group by 13.1% in the third quarter. UBS Group AG now owns 435,367 shares of the company’s stock worth $24,237,000 after buying an additional 50,479 shares during the period. Finally, Lombardia Capital Partners LLC raised its stake in shares of Asbury Automotive Group by 46.8% in the third quarter. Lombardia Capital Partners LLC now owns 341,956 shares of the company’s stock worth $19,037,000 after buying an additional 109,024 shares during the period.
About Asbury Automotive Group
Asbury Automotive Group, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles; used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services, and finance and insurance, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance.