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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 the most recent trading day at $156.57, moving +1.7% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.27%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the auto dealership chain had lost 17.03% in the past month. In that same time, the Retail-Wholesale sector gained 8.25%, while the S&P 500 gained 7.36%.
Investors will be hoping for strength from Asbury Automotive Group as it approaches its next earnings release. In that report, analysts expect Asbury Automotive Group to post earnings of $8.92 per share. This would mark year-over-year growth of 90.6%. Our most recent consensus estimate is calling for quarterly revenue of $3.86 billion, up 76.05% from the year-ago period.
ABG's full-year Zacks Consensus Estimates are calling for earnings of $34.34 per share and revenue of $16.21 billion. These results would represent year-over-year changes of +25.83% and +64.77%, respectively.
Any recent changes to analyst estimates for Asbury Automotive Group should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.63% higher within the past month. Asbury Automotive Group is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Asbury Automotive Group is holding a Forward P/E ratio of 4.48. This represents a discount compared to its industry's average Forward P/E of 6.12.
Also, we should mention that ABG has a PEG ratio of 0.24. 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. The Automotive - Retail and Whole Sales was holding an average PEG ratio of 0.39 at yesterday's closing price.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Asbury Automotive Group (ABG) Gains As Market Dips: What You Should Know
Asbury Automotive Group (ABG - Free Report) closed the most recent trading day at $156.57, moving +1.7% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.27%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the auto dealership chain had lost 17.03% in the past month. In that same time, the Retail-Wholesale sector gained 8.25%, while the S&P 500 gained 7.36%.
Investors will be hoping for strength from Asbury Automotive Group as it approaches its next earnings release. In that report, analysts expect Asbury Automotive Group to post earnings of $8.92 per share. This would mark year-over-year growth of 90.6%. Our most recent consensus estimate is calling for quarterly revenue of $3.86 billion, up 76.05% from the year-ago period.
ABG's full-year Zacks Consensus Estimates are calling for earnings of $34.34 per share and revenue of $16.21 billion. These results would represent year-over-year changes of +25.83% and +64.77%, respectively.
Any recent changes to analyst estimates for Asbury Automotive Group should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.63% higher within the past month. Asbury Automotive Group is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Asbury Automotive Group is holding a Forward P/E ratio of 4.48. This represents a discount compared to its industry's average Forward P/E of 6.12.
Also, we should mention that ABG has a PEG ratio of 0.24. 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. The Automotive - Retail and Whole Sales was holding an average PEG ratio of 0.39 at yesterday's closing price.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.