Zacks: Brokerages Anticipate AutoNation, Inc. (NYSE:AN) Will Announce Quarterly Sales of $5.33 Billion

Wall Street brokerages expect AutoNation, Inc. (NYSE:AN) to report $5.33 billion in sales for the current fiscal quarter, according to Zacks. Twelve analysts have made estimates for AutoNation’s earnings. The lowest sales estimate is $5.19 billion and the highest is $5.53 billion. AutoNation reported sales of $5.39 billion in the same quarter last year, which would suggest a negative year over year growth rate of 1.1%. The business is scheduled to report its next earnings results before the market opens on Tuesday, July 23rd.

According to Zacks, analysts expect that AutoNation will report full-year sales of $21.19 billion for the current year, with estimates ranging from $20.77 billion to $21.78 billion. For the next year, analysts forecast that the firm will post sales of $21.26 billion, with estimates ranging from $20.12 billion to $22.49 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for AutoNation.

AutoNation (NYSE:AN) last issued its earnings results on Friday, April 26th. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.13. AutoNation had a return on equity of 15.48% and a net margin of 1.87%. The firm had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $5.21 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year.

A number of research analysts recently weighed in on the company. Longbow Research reiterated a “hold” rating on shares of Cooper Tire & Rubber in a report on Sunday, July 7th. ValuEngine cut W&T Offshore from a “hold” rating to a “sell” rating in a report on Friday, April 26th. SunTrust Banks lifted their target price on FTI Consulting to $88.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Finally, Morgan Stanley lifted their target price on Sonic Automotive from $10.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, May 6th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. AutoNation currently has an average rating of “Hold” and an average target price of $41.01.

In other AutoNation news, Chairman Michael J. Jackson sold 37,104 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $41.93, for a total transaction of $1,555,770.72. Following the transaction, the chairman now owns 204,790 shares in the company, valued at $8,586,844.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Christopher Cade sold 2,555 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $42.40, for a total value of $108,332.00. Following the transaction, the chief accounting officer now owns 796 shares in the company, valued at approximately $33,750.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,693 shares of company stock worth $1,906,693. 2.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. lifted its stake in shares of AutoNation by 67.8% in the fourth quarter. Bessemer Group Inc. now owns 881 shares of the company’s stock worth $31,000 after acquiring an additional 356 shares in the last quarter. Investors Research Corp acquired a new position in shares of AutoNation in the first quarter worth about $32,000. Sanders Morris Harris LLC acquired a new position in shares of AutoNation in the second quarter worth about $210,000. GYL Financial Synergies LLC acquired a new position in shares of AutoNation in the fourth quarter worth about $206,000. Finally, Camelot Portfolios LLC acquired a new position in shares of AutoNation in the first quarter worth about $234,000. Institutional investors own 65.34% of the company’s stock.

AutoNation stock traded up $0.11 during midday trading on Friday, reaching $41.94. The stock had a trading volume of 287,118 shares, compared to its average volume of 818,999. AutoNation has a twelve month low of $32.83 and a twelve month high of $50.02. The stock has a market capitalization of $3.69 billion, a PE ratio of 9.34, a PEG ratio of 3.74 and a beta of 1.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.82 and a quick ratio of 0.18. The firm has a 50-day moving average price of $41.22.

About AutoNation

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.

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