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Asbury Automotive Group (ABG) Gains As Market Dips: What You Should Know
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Asbury Automotive Group (ABG - Free Report) closed at $170.09 in the latest trading session, marking a +0.64% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.2%.
Coming into today, shares of the auto dealership chain had gained 5.09% in the past month. In that same time, the Retail-Wholesale sector lost 2.8%, while the S&P 500 gained 3.11%.
Investors will be hoping for strength from Asbury Automotive Group as it approaches its next earnings release. On that day, Asbury Automotive Group is projected to report earnings of $5.89 per share, which would represent year-over-year growth of 32.66%. Meanwhile, our latest consensus estimate is calling for revenue of $2.37 billion, up 6.06% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $25.58 per share and revenue of $9.42 billion, which would represent changes of +98.29% and +32.09%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Asbury Automotive Group. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Asbury Automotive Group currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Asbury Automotive Group has a Forward P/E ratio of 6.61 right now. For comparison, its industry has an average Forward P/E of 7.16, which means Asbury Automotive Group is trading at a discount to the group.
We can also see that ABG currently has a PEG ratio of 0.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABG's industry had an average PEG ratio of 0.36 as of yesterday's close.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ABG in the coming trading sessions, be sure to utilize Zacks.com.
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Asbury Automotive Group (ABG) Gains As Market Dips: What You Should Know
Asbury Automotive Group (ABG - Free Report) closed at $170.09 in the latest trading session, marking a +0.64% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.2%.
Coming into today, shares of the auto dealership chain had gained 5.09% in the past month. In that same time, the Retail-Wholesale sector lost 2.8%, while the S&P 500 gained 3.11%.
Investors will be hoping for strength from Asbury Automotive Group as it approaches its next earnings release. On that day, Asbury Automotive Group is projected to report earnings of $5.89 per share, which would represent year-over-year growth of 32.66%. Meanwhile, our latest consensus estimate is calling for revenue of $2.37 billion, up 6.06% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $25.58 per share and revenue of $9.42 billion, which would represent changes of +98.29% and +32.09%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Asbury Automotive Group. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Asbury Automotive Group currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Asbury Automotive Group has a Forward P/E ratio of 6.61 right now. For comparison, its industry has an average Forward P/E of 7.16, which means Asbury Automotive Group is trading at a discount to the group.
We can also see that ABG currently has a PEG ratio of 0.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABG's industry had an average PEG ratio of 0.36 as of yesterday's close.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ABG in the coming trading sessions, be sure to utilize Zacks.com.