Seaport Res Ptn Has Pessimistic View of ABG FY2024 Earnings

Asbury Automotive Group, Inc. (NYSE:ABG) – Research analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for shares of Asbury Automotive Group in a report issued on Thursday, January 16th. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings of $25.97 per share for the year, down from their previous estimate 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 $25.14 per share. Seaport Res Ptn also issued estimates for Asbury Automotive Group’s Q4 2024 earnings at $6.01 EPS.

A number of other equities research analysts have also recently issued reports on the company. Craig Hallum upped 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. JPMorgan Chase & Co. cut their price target on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Bank of America cut their price target on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $255.20.

Asbury Automotive Group Stock Up 4.9 %

Shares of Asbury Automotive Group stock opened at $256.82 on Monday. The stock has a market capitalization of $5.03 billion, a P/E ratio of 14.53 and a beta of 1.19. 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 stock has a 50 day moving average price of $251.46 and a two-hundred day moving average price of $240.99. Asbury Automotive Group has a 12-month low of $195.09 and a 12-month high of $277.13.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing the consensus estimate of $6.58 by ($0.23). The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.12 EPS.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ABG. Harbor Capital Advisors Inc. bought a new stake in Asbury Automotive Group in the third quarter valued at $31,000. Quarry LP bought a new stake in Asbury Automotive Group in the second quarter valued at $38,000. GAMMA Investing LLC grew its position in Asbury Automotive Group by 34.6% in the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after acquiring an additional 101 shares during the period. Nisa Investment Advisors LLC grew its position in Asbury Automotive Group by 17.2% in the fourth 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 stake in Asbury Automotive Group in the second quarter valued at $212,000.

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.