Seaport Res Ptn Has Pessimistic Outlook of ABG Q4 Earnings

Asbury Automotive Group, Inc. (NYSE:ABG) – Investment analysts at Seaport Res Ptn lowered their Q4 2024 earnings per share (EPS) estimates for Asbury Automotive Group in a note issued to investors on Monday, November 11th. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings per share of $6.19 for the quarter, down from their prior estimate of $6.52. Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for Asbury Automotive Group’s current full-year earnings is $25.37 per share.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The business had revenue of $4.24 billion for 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 company’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.12 earnings per share.

A number of other analysts also recently weighed in on ABG. JPMorgan Chase & Co. decreased their target price on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Stephens started coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price on the stock. Bank of America lowered their price objective on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Craig Hallum upped their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $256.20.

Asbury Automotive Group Trading Down 1.3 %

NYSE ABG opened at $258.18 on Thursday. The firm has a market capitalization of $5.06 billion, a PE ratio of 14.61 and a beta of 1.16. The business’s 50-day moving average price is $233.22 and its two-hundred day moving average price is $234.21. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. Asbury Automotive Group has a 12 month low of $195.09 and a 12 month high of $277.13.

Institutional Trading of Asbury Automotive Group

Large investors have recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of Asbury Automotive Group by 94.9% in the third quarter. Barclays PLC now owns 38,644 shares of the company’s stock valued at $9,220,000 after buying an additional 18,821 shares in the last quarter. MML Investors Services LLC bought a new position in Asbury Automotive Group in the 3rd quarter valued at about $222,000. Castleark Management LLC acquired a new position in Asbury Automotive Group during the 3rd quarter valued at about $2,310,000. State Street Corp increased its holdings in Asbury Automotive Group by 0.5% during the 3rd quarter. State Street Corp now owns 801,391 shares of the company’s stock worth $191,204,000 after purchasing an additional 3,672 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Asbury Automotive Group by 1,990.9% in the third quarter. Stifel Financial Corp now owns 19,926 shares of the company’s stock worth $4,754,000 after purchasing an additional 18,973 shares during the last quarter.

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.