Seaport Res Ptn Issues Pessimistic Estimate for ABG Earnings

Asbury Automotive Group, Inc. (NYSE:ABG) – Investment analysts at Seaport Res Ptn decreased their Q4 2024 earnings estimates for shares of Asbury Automotive Group in a research note issued to investors on Monday, November 11th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings per share of $6.19 for the quarter, down from their previous forecast 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.

A number of other analysts have also weighed in on ABG. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Bank of America dropped their price objective on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. Stephens started coverage on Asbury Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Asbury Automotive Group currently has an average rating of “Hold” and an average price target of $256.20.

Asbury Automotive Group Stock Down 1.3 %

Shares of NYSE ABG opened at $258.18 on Thursday. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The company has a market cap of $5.06 billion, a P/E ratio of 14.61 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. The business has a 50-day simple moving average of $233.22 and a two-hundred day simple moving average of $234.21.

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

Institutional Trading of Asbury Automotive Group

A number of hedge funds and other institutional investors have recently modified their holdings of ABG. Assenagon Asset Management S.A. raised its stake in shares of Asbury Automotive Group by 366.1% in the third quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock worth $45,233,000 after purchasing an additional 148,910 shares during the last quarter. Eminence Capital LP grew its holdings in shares of Asbury Automotive Group by 41.5% in the second quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock worth $113,603,000 after acquiring an additional 146,246 shares during the period. Natixis Advisors LLC purchased a new stake in Asbury Automotive Group during the third quarter valued at $26,573,000. Dimensional Fund Advisors LP boosted its position in Asbury Automotive Group by 7.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock worth $240,818,000 after purchasing an additional 69,975 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Asbury Automotive Group during the 3rd quarter valued at about $154,270,000.

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.