Seaport Res Ptn Issues Pessimistic Estimate for ABG Earnings

Asbury Automotive Group, Inc. (NYSE:ABG) – Stock analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for Asbury Automotive Group in a research note issued on Monday, November 11th. Seaport Res Ptn analyst G. Chin now expects that the company will earn $26.14 per share for the year, down from their prior 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 $25.44 per share. Seaport Res Ptn also issued estimates for Asbury Automotive Group’s FY2025 earnings at $25.45 EPS.

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 the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the company posted $8.12 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year.

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

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock opened at $258.74 on Wednesday. Asbury Automotive Group has a 1-year low of $195.09 and a 1-year high of $277.13. The firm’s 50-day moving average price is $231.24 and its two-hundred day moving average price is $233.52. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 14.64 and a beta of 1.16.

Institutional Trading of Asbury Automotive Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Asbury Automotive Group during the 3rd quarter worth approximately $31,000. Quarry LP acquired a new stake in Asbury Automotive Group during the 2nd quarter worth $38,000. GAMMA Investing LLC raised its position in shares of Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after acquiring an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Asbury Automotive Group in the 2nd quarter valued at $155,000. Finally, Headlands Technologies LLC bought a new position in shares of Asbury Automotive Group in the 2nd quarter worth $190,000.

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.