Zacks: Brokerages Anticipate AutoNation, Inc. (NYSE:AN) Will Post Quarterly Sales of $5.93 Billion

Brokerages predict that AutoNation, Inc. (NYSE:AN) will announce sales of $5.93 billion for the current quarter, Zacks reports. Four analysts have issued estimates for AutoNation’s earnings, with the highest sales estimate coming in at $6.16 billion and the lowest estimate coming in at $5.61 billion. AutoNation posted sales of $4.53 billion in the same quarter last year, which would indicate a positive year over year growth rate of 30.9%. The business is expected to report its next quarterly earnings results on Thursday, July 22nd.

On average, analysts expect that AutoNation will report full year sales of $23.67 billion for the current fiscal year, with estimates ranging from $23.25 billion to $24.02 billion. For the next fiscal year, analysts forecast that the firm will report sales of $24.14 billion, with estimates ranging from $23.51 billion to $25.40 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for AutoNation.

AutoNation (NYSE:AN) last released its earnings results on Monday, April 19th. The company reported $2.79 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.99. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.03 billion. AutoNation had a return on equity of 24.22% and a net margin of 3.95%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share.

AN has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on AutoNation from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, April 22nd. Benchmark raised AutoNation from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Wednesday, April 28th. Truist Securities raised their price objective on AutoNation from $80.00 to $100.00 and gave the company a “hold” rating in a research note on Wednesday, April 21st. Finally, Truist raised their price objective on AutoNation from $80.00 to $100.00 in a research note on Wednesday, April 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $82.88.

AN traded down $1.49 during trading on Friday, reaching $95.01. The stock had a trading volume of 809,261 shares, compared to its average volume of 771,893. The stock has a market capitalization of $7.65 billion, a PE ratio of 9.75, a PEG ratio of 0.48 and a beta of 1.64. The company has a current ratio of 1.02, a quick ratio of 0.39 and a debt-to-equity ratio of 0.56. AutoNation has a one year low of $35.64 and a one year high of $106.99. The firm’s 50-day moving average is $99.35.

In other AutoNation news, CAO Christopher Cade sold 9,864 shares of AutoNation stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $102.01, for a total transaction of $1,006,226.64. Following the sale, the chief accounting officer now directly owns 9,864 shares of the company’s stock, valued at approximately $1,006,226.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Edward S. Lampert sold 133,770 shares of AutoNation stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $103.72, for a total value of $13,874,624.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 557,732 shares of company stock worth $57,834,180. Insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AN. Logan Capital Management Inc. bought a new position in AutoNation in the 1st quarter valued at approximately $26,000. Van ECK Associates Corp bought a new position in AutoNation in the 1st quarter valued at approximately $27,000. Royal London Asset Management Ltd. purchased a new stake in AutoNation during the 4th quarter valued at $41,000. JJJ Advisors Inc. raised its stake in AutoNation by 37.2% during the 1st quarter. JJJ Advisors Inc. now owns 598 shares of the company’s stock valued at $56,000 after buying an additional 162 shares during the last quarter. Finally, McIlrath & Eck LLC raised its stake in AutoNation by 115.1% during the 4th quarter. McIlrath & Eck LLC now owns 626 shares of the company’s stock valued at $44,000 after buying an additional 335 shares during the last quarter. 58.06% of the stock is currently owned by hedge funds and other institutional investors.

AutoNation Company Profile

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.

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Earnings History and Estimates for AutoNation (NYSE:AN)

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