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

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

Asbury Automotive Group (NYSE:ABG) last posted its 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). The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.70 billion. Asbury Automotive Group had a net margin of 4.07% and a return on equity of 21.68%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $9.12 earnings per share.

Separately, Craig Hallum lowered Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price target 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 has a market cap of $4.49 billion, a price-to-earnings ratio of 7.77 and a beta of 1.18. The stock’s 50-day moving average is $216.86 and its 200-day moving average is $213.08. Asbury Automotive Group has a one year low of $178.40 and a one year 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.

Institutional Trading of Asbury Automotive Group

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

Insider Activity

In related news, SVP Jed Milstein sold 3,955 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total transaction of $826,595.00. Following the sale, the senior vice president now owns 8,300 shares in the company, valued at $1,734,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

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.