Asbury Automotive Group (NYSE:ABG) Announces Earnings Results, Misses Expectations By $0.02 EPS

Asbury Automotive Group (NYSE:ABG - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $6.82 EPS for the quarter, missing the consensus estimate of $6.84 by ($0.02), Zacks reports. Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The company had revenue of $4.15 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same period in the prior year, the company earned $7.21 earnings per share. The firm's revenue was down 1.3% on a year-over-year basis.

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock traded up $3.99 during trading on Friday, hitting $222.34. 122,961 shares of the company were exchanged, compared to its average volume of 204,355. Asbury Automotive Group has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average price of $231.75 and a 200 day moving average price of $249.21. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 10.34 and a beta of 0.98.

Insiders Place Their Bets

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.59% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ABG. Citigroup assumed coverage on shares of Asbury Automotive Group in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price objective on the stock. Craig Hallum lowered shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Finally, Stephens increased their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Asbury Automotive Group currently has a consensus rating of "Hold" and an average target price of $258.50.

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.