Seaport Res Ptn Has Pessimistic View of ABG FY2024 Earnings

Asbury Automotive Group, Inc. (NYSE:ABG) – Equities research analysts at Seaport Res Ptn lowered their FY2024 earnings per share (EPS) estimates for Asbury Automotive Group in a report released on Monday, November 11th. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings per share of $26.14 for the year, down from their previous forecast of $26.60. Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for Asbury Automotive Group’s current full-year earnings is $25.37 per share. Seaport Res Ptn also issued estimates for Asbury Automotive Group’s FY2025 earnings at $25.45 EPS.

Other analysts have also recently issued research reports about the stock. Stephens assumed coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Bank of America cut their price objective on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Craig Hallum upped their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $256.20.

Asbury Automotive Group Stock Down 1.2 %

Shares of NYSE:ABG opened at $261.62 on Wednesday. The company has a 50 day moving average price of $231.86 and a two-hundred day moving average price of $233.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The company has a market capitalization of $5.13 billion, a PE ratio of 14.81 and a beta of 1.16. Asbury Automotive Group has a 52 week low of $195.09 and a 52 week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.58 by ($0.23). The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.12 earnings per share.

Institutional Investors Weigh In On Asbury Automotive Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new position in Asbury Automotive Group during the third quarter worth $31,000. Quarry LP acquired a new position in shares of Asbury Automotive Group during the 2nd quarter worth about $38,000. GAMMA Investing LLC raised its holdings in shares of Asbury Automotive Group by 100.0% in the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after purchasing an additional 146 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Asbury Automotive Group in the 2nd quarter valued at about $155,000. Finally, Headlands Technologies LLC acquired a new stake in Asbury Automotive Group in the 2nd quarter valued at about $190,000.

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.