What is Seaport Res Ptn’s Estimate for ABG FY2024 Earnings?

Asbury Automotive Group, Inc. (NYSE:ABG) – Investment analysts at Seaport Res Ptn cut their FY2024 EPS estimates for Asbury Automotive Group in a research report issued on Monday, November 11th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings of $26.14 per share for the year, down from their prior estimate 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 $25.37 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 issued its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm earned $8.12 EPS. The business’s revenue was up 15.6% on a year-over-year basis.

ABG has been the topic of a number of other reports. Bank of America lowered their price objective 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. Stephens assumed 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. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price objective on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $256.20.

Asbury Automotive Group Trading Up 2.4 %

NYSE:ABG opened at $264.89 on Wednesday. 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 stock’s 50 day simple moving average is $231.86 and its 200-day simple moving average is $233.74. The firm has a market cap of $5.19 billion, a P/E ratio of 14.99 and a beta of 1.16.

Institutional Trading of Asbury Automotive Group

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