Seaport Res Ptn Issues Negative Estimate for ABG Earnings

Asbury Automotive Group, Inc. (NYSE:ABG) – Investment analysts at Seaport Res Ptn reduced their Q4 2024 earnings estimates for shares of Asbury Automotive Group in a research report issued to clients and investors on Monday, November 11th. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings of $6.19 per share 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 announced its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the firm earned $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 topic of a number of other reports. Stephens began coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target on the stock. JPMorgan Chase & Co. reduced 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 report on Tuesday, November 5th. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Craig Hallum upped their price objective on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $256.20.

Asbury Automotive Group Price Performance

ABG stock opened at $264.89 on Thursday. The business’s fifty day moving average price is $231.86 and its 200 day moving average price is $233.74. Asbury Automotive Group has a 12-month low of $195.09 and a 12-month high of $277.13. 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 company has a market capitalization of $5.19 billion, a PE ratio of 14.99 and a beta of 1.16.

Institutional Investors Weigh In On Asbury Automotive Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of 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 increased 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 acquiring an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Asbury Automotive Group during the 2nd quarter worth about $155,000. Finally, Headlands Technologies LLC purchased a new stake in Asbury Automotive Group during the second quarter worth approximately $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.