Asbury Automotive Group, Inc. (NYSE:ABG) Expected to Post Q1 2024 Earnings of $7.82 Per Share

Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) - Research analysts at Seaport Res Ptn increased their Q1 2024 EPS estimates for shares of Asbury Automotive Group in a research note issued on Friday, April 19th. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings per share of $7.82 for the quarter, up from their previous forecast of $7.81. The consensus estimate for Asbury Automotive Group's current full-year earnings is $31.46 per share.

Separately, Craig Hallum cut Asbury Automotive Group from a "buy" rating to a "hold" rating and set a $230.00 target price on the stock. in a report on Thursday, February 8th.

Asbury Automotive Group Trading Up 0.9 %

Shares of ABG stock traded up $1.92 during trading hours on Monday, hitting $217.04. 152,173 shares of the company were exchanged, compared to its average volume of 164,753. Asbury Automotive Group has a fifty-two week low of $178.40 and a fifty-two week high of $256.39. The company has a 50 day simple moving average of $216.97 and a two-hundred day simple moving average of $213.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.45 and a current ratio of 1.06. The firm has a market cap of $4.38 billion, a P/E ratio of 7.59 and a beta of 1.18.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported $7.12 EPS for the quarter, missing the consensus estimate of $7.74 by ($0.62). The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.70 billion. Asbury Automotive Group had a return on equity of 21.68% and a net margin of 4.07%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $9.12 EPS.

Insider Buying and Selling

In related news, SVP Jed Milstein sold 3,955 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total value of $826,595.00. Following the transaction, the senior vice president now directly owns 8,300 shares in the company, valued at approximately $1,734,700. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Several large investors have recently bought and sold shares of the stock. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Asbury Automotive Group during the 4th quarter valued at $28,000. DekaBank Deutsche Girozentrale purchased a new stake in Asbury Automotive Group in the 3rd quarter worth about $36,000. CWM LLC increased its holdings in Asbury Automotive Group by 94.0% in the 3rd quarter. CWM LLC now owns 161 shares of the company's stock worth $37,000 after acquiring an additional 78 shares during the last quarter. AXS Investments LLC purchased a new stake in Asbury Automotive Group in the 4th quarter worth about $38,000. Finally, Ronald Blue Trust Inc. increased its holdings in Asbury Automotive Group by 93.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 186 shares of the company's stock worth $45,000 after acquiring an additional 90 shares during the last quarter.

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.