Trade Report: The Asbury Automotive Group Inc. to Post Q3 2018 Earnings of $1.57 Per Share, Jefferies Group Forecasts (ABG)

The Asbury Automotive Group Inc. to Post Q3 2018 Earnings of $1.57 Per Share, Jefferies Group Forecasts (ABG)

Asbury Automotive Group Inc. (NYSE:ABG) – Equities researchers at Jefferies Group dropped their Q3 2018 earnings estimates for Asbury Automotive Group in a research note issued on Tuesday. Jefferies Group analyst B. Jordan now expects that the firm will post earnings per share of $1.57 for the quarter, down from their prior forecast of $1.80. Jefferies Group currently has a “Hold” rating and a $55.00 price target on the stock. Jefferies Group also issued estimates for Asbury Automotive Group’s FY2018 earnings at $6.41 EPS.

ABG has been the topic of a number of other research reports. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Tuesday, September 27th. Wolfe Research started coverage on Asbury Automotive Group in a report on Tuesday, September 13th. They issued a “market perform” rating on the stock. Finally, TheStreet upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $69.50.

Shares of Asbury Automotive Group (NYSE:ABG) opened at 51.00 on Friday. The firm has a 50-day moving average price of $54.15 and a 200 day moving average price of $55.64. The firm has a market cap of $1.13 billion, a P/E ratio of 8.45 and a beta of 1.20. Asbury Automotive Group has a one year low of $43.56 and a one year high of $81.54.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.61 by $0.09. The business earned $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. Asbury Automotive Group had a return on equity of 52.74% and a net margin of 2.17%. Asbury Automotive Group’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 EPS.

Large investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of Asbury Automotive Group by 143.7% in the first quarter. BlackRock Fund Advisors now owns 1,575,486 shares of the company’s stock valued at $94,277,000 after buying an additional 929,111 shares during the period. Burgundy Asset Management Ltd. increased 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 valued at $59,525,000 after buying an additional 349,528 shares during the period. Lombardia Capital Partners LLC bought a new stake in shares of Asbury Automotive Group during the second quarter valued at $12,285,000. UBS Group AG increased its stake in shares of Asbury Automotive Group by 125.8% in the first quarter. UBS Group AG now owns 290,279 shares of the company’s stock valued at $17,370,000 after buying an additional 161,722 shares during the period. Finally, New Amsterdam Partners LLC NY bought a new stake in shares of Asbury Automotive Group during the second quarter valued at $5,301,000.

In other Asbury Automotive Group news, CEO Craig T. Monaghan sold 27,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $57.92, for a total transaction of $1,563,840.00. Following the sale, the chief executive officer now owns 125,519 shares in the company, valued at approximately $7,270,060.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 10.90% of the company’s stock.

About Asbury Automotive Group

Related posts

Leave a Comment