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

Asbury Automotive Group, Inc. (NYSE:ABG) – Investment analysts at Seaport Res Ptn boosted their Q1 2024 EPS estimates for shares of Asbury Automotive Group in a research report issued to clients and investors on Friday, April 19th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $7.82 per share 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 downgraded shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price objective on the stock. in a report on Thursday, February 8th.

Asbury Automotive Group Trading Up 0.9 %

Shares of NYSE:ABG opened at $217.04 on Monday. The business’s 50-day moving average is $216.97 and its 200 day moving average is $213.02. 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 has a 1 year low of $178.40 and a 1 year high of $256.39. The firm has a market capitalization of $4.38 billion, a P/E ratio of 7.59 and a beta of 1.18.

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

Institutional Trading of Asbury Automotive Group

Hedge funds have recently modified their holdings of the stock. CWM LLC lifted its holdings in Asbury Automotive Group by 94.0% in the third quarter. CWM LLC now owns 161 shares of the company’s stock valued at $37,000 after acquiring an additional 78 shares during the period. Ronald Blue Trust Inc. boosted its holdings in Asbury Automotive Group by 93.8% during the third quarter. Ronald Blue Trust Inc. now owns 186 shares of the company’s stock worth $45,000 after buying an additional 90 shares in the last quarter. Ziegler Capital Management LLC grew its position in Asbury Automotive Group by 10.3% during the third quarter. Ziegler Capital Management LLC now owns 3,741 shares of the company’s stock valued at $861,000 after buying an additional 348 shares during the period. Voss Capital LLC raised its position in shares of Asbury Automotive Group by 5.8% in the third quarter. Voss Capital LLC now owns 179,647 shares of the company’s stock worth $41,331,000 after acquiring an additional 9,825 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Asbury Automotive Group by 35.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,350 shares of the company’s stock worth $1,231,000 after acquiring an additional 1,400 shares during the period.

Insider Buying and Selling

In other news, SVP Jed Milstein sold 3,955 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total value of $826,595.00. Following the completion of the transaction, the senior vice president now directly owns 8,300 shares in the company, valued at $1,734,700. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by company insiders.

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.