January 26, 2021

Asbury Automotive Group Reports Preliminary Results and Schedules Third Quarter 2020 Earnings Call | News

DULUTH, Ga., Oct. 14, 2020 /PRNewswire/ — Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., today reported preliminary financial results for the three months ended September 30, 2020. Asbury expects net income per diluted share to be between $4.88 and $4.96, and adjusted net income per diluted share (a non-GAAP measure) to be between $4.00 and $4.08, which would be an increase of between 72% and 75% from the prior year quarter adjusted net income per diluted share of $2.33.  Net income for the third quarter 2020 is expected to be adjusted for a $24.7 million ($0.96 per diluted share) gain on a dealership divestiture, $1.3 million ($0.05 per diluted share) of acquisition related costs and a $0.7 million ($0.03 per diluted share) real estate related charge.

The company expects same store

Read More

Why Asbury Automotive (ABG) Could Beat Earnings Estimates Again

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Asbury Automotive Group (ABG), which belongs to the Zacks Automotive – Retail and Whole Sales industry, could be a great candidate to consider.

This auto dealership chain has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 6.91%.

For the most recent quarter, Asbury Automotive was expected to post earnings of $2.47 per share, but it reported $2.52 per share instead, representing a surprise of 2.02%. For the previous quarter, the consensus estimate was $1.61 per share, while it actually produced $1.80 per share, a surprise of 11.80%.

Price and EPS Surprise

Thanks in part to this history, there has been a favorable change in earnings estimates for

Read More

Are Investors Undervaluing Asbury Automotive Group (ABG) Right Now?

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system’s “Value” category. Stocks with “A” grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company value investors might

Read More

Asbury Automotive Sees Hammer Chart Pattern: Time to Buy?

Asbury Automotive Group, Inc. ABG has been struggling lately, but the selling pressure may be coming to an end soon. That is because ABG recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom.

What is a Hammer Chart Pattern?

A hammer chart pattern is a popular technical indicator that is used in candlestick charting. The hammer appears when a stock tumbles during the day, but then finds strength at some point in the session to close near or above its opening price. This forms a candlestick that resembles a hammer, and it can suggest that the market has found a low point in the stock, and that better days are ahead.

Other Factors

Plus, earnings estimates have been rising for this company, even despite the sluggish trading lately. In just the past 60 days alone 3 estimates have gone higher, compared to none

Read More