Q4 EPS Estimate for Asbury Automotive Group Cut by Analyst

Asbury Automotive Group, Inc. (NYSE:ABG) – Equities researchers at Seaport Res Ptn lowered their Q4 2024 earnings per share (EPS) estimates for shares of Asbury Automotive Group in a research report issued on Monday, November 11th. Seaport Res Ptn analyst G. Chin now anticipates that the company will earn $6.19 per share for the quarter, down from their prior 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.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data 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). The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned $8.12 EPS.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Stephens assumed coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price objective for the company. Bank of America dropped 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. Craig Hallum raised their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $256.20.

Asbury Automotive Group Stock Performance

Shares of ABG stock opened at $261.62 on Thursday. 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 cap of $5.13 billion, a PE ratio of 14.81 and a beta of 1.16. Asbury Automotive Group has a 12-month low of $195.09 and a 12-month high of $277.13. The business’s fifty day simple moving average is $231.86 and its 200-day simple moving average is $233.74.

Institutional Investors Weigh In On Asbury Automotive Group

Hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its stake in shares of Asbury Automotive Group by 366.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock valued at $45,233,000 after buying an additional 148,910 shares during the last quarter. Eminence Capital LP grew its holdings in Asbury Automotive Group by 41.5% during 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 position in Asbury Automotive Group during the third quarter valued at approximately $26,573,000. Dimensional Fund Advisors LP lifted its holdings 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 valued at $240,818,000 after acquiring an additional 69,975 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Asbury Automotive Group in the 3rd quarter worth approximately $154,270,000.

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.