Seaport Res Ptn Issues Pessimistic Forecast for ABG Earnings

Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) - Analysts at Seaport Res Ptn lowered their FY2024 earnings per share (EPS) estimates for shares of Asbury Automotive Group in a research report issued to clients and investors on Thursday, January 16th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $25.97 per share for the year, down from their prior forecast of $26.14. Seaport Res Ptn currently has a "Hold" rating on the stock. The consensus estimate for Asbury Automotive Group's current full-year earnings is $25.17 per share. Seaport Res Ptn also issued estimates for Asbury Automotive Group's Q4 2024 earnings at $6.01 EPS.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing analysts' consensus estimates of $6.58 by ($0.23). The company 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 company's revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $8.12 earnings per share.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Asbury Automotive Group from $260.00 to $255.00 and set a "neutral" rating on the stock in a research note on Friday. Bank of America cut their target price on Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. StockNews.com upgraded Asbury Automotive Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Morgan Stanley raised Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. Finally, Craig Hallum boosted their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Asbury Automotive Group has a consensus rating of "Hold" and a consensus target price of $255.20.

Asbury Automotive Group Stock Down 0.3 %

ABG stock traded down $0.64 during trading on Monday, hitting $244.72. 291,690 shares of the stock traded hands, compared to its average volume of 133,305. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 13.85 and a beta of 1.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. Asbury Automotive Group has a 1 year low of $195.09 and a 1 year high of $277.13. The firm's 50 day moving average is $251.88 and its two-hundred day moving average is $240.86.

Institutional Investors Weigh In On Asbury Automotive Group

A number of large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Asbury Automotive Group in the third quarter worth approximately $31,000. Quarry LP purchased a new position in shares of Asbury Automotive Group during the 2nd quarter worth $38,000. GAMMA Investing LLC boosted its stake in shares of Asbury Automotive Group by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 393 shares of the company's stock worth $94,000 after acquiring an additional 101 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Asbury Automotive Group by 17.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company's stock valued at $204,000 after acquiring an additional 123 shares during the period. Finally, Seven Eight Capital LP bought a new position in Asbury Automotive Group in the 2nd quarter worth $212,000.

About Asbury Automotive Group

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.