AutoNation (NYSE:AN) Releases Earnings Results, Beats Expectations By $0.76 EPS

Key Points

• AutoNation reported earnings of $5.46 per share for the quarter, surpassing analysts' expectations of $4.70 by $0.76, with revenues of $6.97 billion also exceeding estimates.
• The company's return on equity stood at 30.08%, and it experienced a 7.6% year-over-year revenue growth compared to the same quarter last year.
• Analysts have mixed ratings on AutoNation, with a consensus rating of "Moderate Buy" and a consensus price target of $209.88 as of the latest reports.

AutoNation (NYSE:AN - Get Free Report) released its earnings results on Friday. The company reported $5.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.70 by $0.76, Zacks reports. The business had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.77 billion. AutoNation had a return on equity of 30.08% and a net margin of 2.51%. AutoNation's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.99 earnings per share.

AutoNation Stock Performance

Shares of NYSE:AN traded up $3.12 during trading on Friday, reaching $203.37. 970,885 shares of the stock were exchanged, compared to its average volume of 474,739. AutoNation has a 12 month low of $148.33 and a 12 month high of $217.40. The firm has a market cap of $7.67 billion, a PE ratio of 12.03, a PEG ratio of 1.02 and a beta of 0.99. The stock has a 50-day moving average price of $196.18 and a 200-day moving average price of $183.19. The company has a current ratio of 0.77, a quick ratio of 0.22 and a debt-to-equity ratio of 1.72.

Wall Street Analyst Weigh In

AN has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on AutoNation from $187.00 to $209.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Bank of America lifted their target price on AutoNation from $225.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Citigroup raised AutoNation to a "strong-buy" rating in a research report on Thursday, April 24th. Wall Street Zen raised AutoNation from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th. Finally, Guggenheim lowered their price target on AutoNation from $212.00 to $183.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.88.

Institutional Investors Weigh In On AutoNation

A number of institutional investors have recently made changes to their positions in AN. Geneos Wealth Management Inc. boosted its holdings in shares of AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock worth $38,000 after acquiring an additional 64 shares during the period. United Services Automobile Association bought a new stake in shares of AutoNation during the first quarter worth approximately $265,000. Focus Partners Wealth boosted its holdings in shares of AutoNation by 17.3% during the first quarter. Focus Partners Wealth now owns 3,472 shares of the company's stock worth $562,000 after acquiring an additional 511 shares during the period. Royal Bank of Canada boosted its holdings in shares of AutoNation by 8.9% during the first quarter. Royal Bank of Canada now owns 18,953 shares of the company's stock worth $3,070,000 after acquiring an additional 1,551 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of AutoNation by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company's stock worth $15,967,000 after acquiring an additional 9,656 shares during the period. Institutional investors own 94.62% of the company's stock.

About AutoNation

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.

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