Asbury Automotive Group Inc (NYSE:ABG) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Asbury Automotive Group Inc (NYSE:ABG) announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by $0.09, Bloomberg Earnings reports. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. Asbury Automotive Group’s revenue was up .3% on a year-over-year basis. During the same period last year, the business earned $1.65 EPS.

Shares of Asbury Automotive Group (ABG) traded up 0.58% during mid-day trading on Friday, reaching $52.25. 195,789 shares of the company traded hands. Asbury Automotive Group has a 52 week low of $47.50 and a 52 week high of $71.00. The firm has a 50-day moving average price of $55.06 and a 200 day moving average price of $59.32. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 6.80 and a beta of 1.42.

In other Asbury Automotive Group news, SVP George Karolis sold 2,743 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $55.98, for a total value of $153,553.14. Following the completion of the transaction, the senior vice president now owns 5,083 shares in the company, valued at $284,546.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Frederick Stax sold 495 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $54.25, for a total value of $26,853.75. Following the completion of the sale, the insider now directly owns 4,586 shares in the company, valued at approximately $248,790.50. The disclosure for this sale can be found here. Insiders have sold 15,738 shares of company stock valued at $897,157 in the last 90 days. Company insiders own 11.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of ABG. LSV Asset Management raised its stake in Asbury Automotive Group by 61.7% in the first quarter. LSV Asset Management now owns 104,000 shares of the company’s stock worth $6,250,000 after buying an additional 39,700 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Asbury Automotive Group by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 26,916 shares of the company’s stock worth $1,617,000 after buying an additional 974 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Asbury Automotive Group by 15,250.0% in the first quarter. Canada Pension Plan Investment Board now owns 92,100 shares of the company’s stock worth $5,535,000 after buying an additional 91,500 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Asbury Automotive Group by 488.2% in the first quarter. Russell Investments Group Ltd. now owns 10,000 shares of the company’s stock worth $601,000 after buying an additional 8,300 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Asbury Automotive Group during the first quarter worth about $356,000. 99.89% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have issued reports on ABG. BidaskClub raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Zacks Investment Research lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Jefferies Group LLC reissued a “neutral” rating on shares of Asbury Automotive Group in a research report on Friday, June 2nd. ValuEngine cut shares of Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Morgan Stanley lowered their price target on shares of Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating for the company in a research report on Friday, June 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $57.80.

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About Asbury Automotive Group

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

Earnings History for Asbury Automotive Group (NYSE:ABG)

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