Asbury Automotive Group (ABG) Releases Earnings Results, Beats Expectations By $0.03 EPS

Asbury Automotive Group (ABG) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $1.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $1.33. The company posted revenue of $1550.80 million in the period, compared to analysts expectations of $1616.16 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS.

Many Wall Street Analysts have commented on Asbury Automotive Group. Asbury Automotive Group was Initiated by Jefferies to “Hold” on Apr 11, 2016. Asbury Automotive Group was Upgraded by Buckingham Research to ” Buy” on Feb 23, 2016.

Asbury Automotive Group opened for trading at $56.62 and hit $58.98 on the upside on Friday, eventually ending the session at $58.72, with a gain of 2.87% or 1.64 points. The heightened volatility saw the trading volume jump to 3,73,028 shares. Company has a market cap of $1,452 M.

In a different news, on Mar 14, 2016, Eugene S Katz (director) sold 1,000 shares at $60.57 per share price. According to the SEC, on May 14, 2015, Dennis E Clements (director) sold 10,000 shares at $85.00 per share price. On Apr 22, 2015, Juanita T James (director) sold 3,152 shares at $86.72 per share price, according to the Form-4 filing with the securities and exchange commission.

Asbury Automotive Group Inc. (Asbury) is an automotive retailer in the United States. The Company offers a range of automotive products and services including new and used vehicles vehicle maintenance replacement parts and collision repair services new and used vehicle financing and aftermarket products including insurance warranty and service contracts. The Company’s brand names include Nalley Automotive Group Courtesy Autogroup Coggin Automotive Group Crown Automotive Company David McDavid Auto Group Gray-Daniels Auto Family and Plaza Motor Company among others. The Company’s new vehicle sales consist of the sale of new vehicles to individual retail customers and the sale of new vehicles to commercial customers. It’s used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. It provides vehicle maintenance and repair services in the markets of its franchised dealerships.

Asbury Automotive Group

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