Brokerages predict that Asbury Automotive Group, Inc. (NYSE:ABG) will announce $1.81 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Asbury Automotive Group’s earnings, with the lowest sales estimate coming in at $1.79 billion and the highest estimate coming in at $1.82 billion. Asbury Automotive Group reported sales of $1.84 billion during the same quarter last year, which indicates a negative year over year growth rate of 1.6%. The firm is expected to report its next earnings report on Tuesday, October 27th.

On average, analysts expect that Asbury Automotive Group will report full-year sales of $7.07 billion for the current fiscal year, with estimates ranging from $6.86 billion to $7.16 billion. For the next year, analysts expect that the business will report sales of $8.40 billion, with estimates ranging from $7.86 billion to $9.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.03. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Asbury Automotive Group had a return on equity of 27.07% and a net margin of 2.32%. The firm’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.38 earnings per share.

A number of brokerages recently commented on ABG. ValuEngine upgraded Asbury Automotive Group from a “strong sell” rating to a “sell” rating in a research report on Monday, August 3rd. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Tuesday, June 9th. Morgan Stanley boosted their target price on Asbury Automotive Group from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 29th. Craig Hallum lowered Asbury Automotive Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $100.00 to $110.00 in a research report on Wednesday, July 29th. Finally, TheStreet upgraded Asbury Automotive Group from a “c+” rating to a “b” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Asbury Automotive Group currently has a consensus rating of “Hold” and an average price target of $101.33.

In other Asbury Automotive Group news, Director Juanita T. James sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $110.13, for a total value of $110,130.00. Following the sale, the director now owns 6,871 shares in the company, valued at approximately $756,703.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William Frederick Stax sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $105.00, for a total value of $73,500.00. Following the completion of the sale, the chief accounting officer now owns 4,731 shares in the company, valued at approximately $496,755. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC raised its stake in shares of Asbury Automotive Group by 11.6% during the 2nd quarter. Mutual of America Capital Management LLC now owns 941 shares of the company’s stock worth $73,000 after purchasing an additional 98 shares in the last quarter. Stone Ridge Asset Management LLC raised its stake in shares of Asbury Automotive Group by 5.1% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 6,130 shares of the company’s stock worth $474,000 after purchasing an additional 300 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Asbury Automotive Group by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 30,845 shares of the company’s stock worth $2,385,000 after purchasing an additional 311 shares in the last quarter. American International Group Inc. raised its stake in shares of Asbury Automotive Group by 2.6% during the 2nd quarter. American International Group Inc. now owns 13,629 shares of the company’s stock worth $1,054,000 after purchasing an additional 345 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Asbury Automotive Group by 36.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,318 shares of the company’s stock worth $72,000 after purchasing an additional 349 shares in the last quarter.

Shares of ABG stock opened at $100.30 on Friday. The stock has a 50-day moving average price of $103.61 and a 200 day moving average price of $80.56. The company has a quick ratio of 1.07, a current ratio of 1.78 and a debt-to-equity ratio of 1.66. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 12.28 and a beta of 1.71. Asbury Automotive Group has a 12 month low of $39.36 and a 12 month high of $123.44.

About Asbury Automotive Group

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.

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