Asbury Automotive Group (NYSE:ABG) Issues Earnings Results

Asbury Automotive Group (NYSE:ABG) posted its quarterly earnings results on Friday. The company reported $6.40 earnings per share for the quarter, missing analysts’ consensus estimates of $7.31 by ($0.91), Zacks reports. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a return on equity of 20.12% and a net margin of 3.68%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.95 earnings per share.

Asbury Automotive Group Stock Down 1.1 %

NYSE ABG traded down $2.55 on Monday, hitting $232.80. 119,509 shares of the stock were exchanged, compared to its average volume of 174,055. Asbury Automotive Group has a fifty-two week low of $178.40 and a fifty-two week high of $277.13. The company has a 50-day moving average price of $237.72 and a 200-day moving average price of $225.14. The company has a quick ratio of 0.38, a current ratio of 1.06 and a debt-to-equity ratio of 0.93. The company has a market cap of $4.70 billion, a PE ratio of 8.53 and a beta of 1.16.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lowered Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 price target on the stock. in a research note on Monday, June 10th.

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.