Asbury Automotive Group (NYSE:ABG) Releases Quarterly Earnings Results, Beats Expectations By $1.22 EPS

Asbury Automotive Group (NYSE:ABG) released its quarterly earnings results on Thursday. The company reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.04 by $1.22, Zacks reports. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%.

Asbury Automotive Group Stock Performance

NYSE:ABG traded up $25.60 during mid-day trading on Thursday, hitting $299.91. The stock had a trading volume of 215,767 shares, compared to its average volume of 175,920. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 16.99 and a beta of 1.19. The company’s 50 day simple moving average is $252.52 and its 200 day simple moving average is $242.52. Asbury Automotive Group has a twelve month low of $195.09 and a twelve month high of $307.69. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Analyst Ratings Changes

ABG has been the subject of several analyst reports. 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. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Craig Hallum boosted their price objective 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. Seaport Res Ptn downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Bank of America lowered their price target on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Asbury Automotive Group has a consensus rating of “Hold” and an average price target of $255.20.

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.