Asbury Automotive Group, Inc. (NYSE:ABG) to Post Q1 2024 Earnings of $7.82 Per Share, Seaport Res Ptn Forecasts

Asbury Automotive Group, Inc. (NYSE:ABG) – Equities research analysts at Seaport Res Ptn lifted their Q1 2024 earnings per share (EPS) estimates for Asbury Automotive Group in a note issued to investors on Friday, April 19th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings per share of $7.82 for the quarter, up from their previous 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 Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a research note on Thursday, February 8th.

Asbury Automotive Group Price Performance

Shares of NYSE:ABG opened at $217.04 on Monday. The company has a market cap of $4.38 billion, a PE ratio of 7.59 and a beta of 1.18. Asbury Automotive Group has a fifty-two week low of $178.40 and a fifty-two week high of $256.39. The firm has a 50-day simple moving average of $216.97 and a 200 day simple moving average of $213.02. The company has a quick ratio of 0.45, a current ratio of 1.06 and a debt-to-equity ratio of 0.96.

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

Insider Buying and Selling

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $209.00, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Asbury Automotive Group during the fourth quarter valued at about $28,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Asbury Automotive Group during the 3rd quarter worth about $36,000. CWM LLC lifted its stake in shares of Asbury Automotive Group by 94.0% in the 3rd quarter. CWM LLC now owns 161 shares of the company’s stock worth $37,000 after acquiring an additional 78 shares during the period. AXS Investments LLC acquired a new stake in shares of Asbury Automotive Group in the 4th quarter worth approximately $38,000. Finally, Ronald Blue Trust Inc. boosted its holdings in shares of Asbury Automotive Group by 93.8% in the third quarter. Ronald Blue Trust Inc. now owns 186 shares of the company’s stock valued at $45,000 after acquiring an additional 90 shares in the last quarter.

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.