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Asbury Automotive Group (ABG) Dips More Than Broader Markets: What You Should Know
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Asbury Automotive Group (ABG - Free Report) closed the most recent trading day at $141.63, moving -1.63% from the previous trading session. This move lagged the S&P 500's daily loss of 0.13%. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.54%.
Heading into today, shares of the auto dealership chain had gained 17.46% over the past month, outpacing the Retail-Wholesale sector's gain of 1.59% and the S&P 500's gain of 3.5% in that time.
Wall Street will be looking for positivity from ABG as it approaches its next earnings report date. In that report, analysts expect ABG to post earnings of $4.09 per share. This would mark year-over-year growth of 61.66%. Meanwhile, our latest consensus estimate is calling for revenue of $2.18 billion, up 15.11% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.47 per share and revenue of $7.08 billion, which would represent changes of +31.82% and -1.77%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ABG. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.4% higher. ABG currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, ABG is holding a Forward P/E ratio of 11.55. For comparison, its industry has an average Forward P/E of 11.48, which means ABG is trading at a premium to the group.
Investors should also note that ABG has a PEG ratio of 0.62 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ABG's industry had an average PEG ratio of 1.03 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 7, putting it in the top 3% 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.
To follow ABG in the coming trading sessions, be sure to utilize Zacks.com.
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Asbury Automotive Group (ABG) Dips More Than Broader Markets: What You Should Know
Asbury Automotive Group (ABG - Free Report) closed the most recent trading day at $141.63, moving -1.63% from the previous trading session. This move lagged the S&P 500's daily loss of 0.13%. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.54%.
Heading into today, shares of the auto dealership chain had gained 17.46% over the past month, outpacing the Retail-Wholesale sector's gain of 1.59% and the S&P 500's gain of 3.5% in that time.
Wall Street will be looking for positivity from ABG as it approaches its next earnings report date. In that report, analysts expect ABG to post earnings of $4.09 per share. This would mark year-over-year growth of 61.66%. Meanwhile, our latest consensus estimate is calling for revenue of $2.18 billion, up 15.11% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.47 per share and revenue of $7.08 billion, which would represent changes of +31.82% and -1.77%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ABG. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.4% higher. ABG currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, ABG is holding a Forward P/E ratio of 11.55. For comparison, its industry has an average Forward P/E of 11.48, which means ABG is trading at a premium to the group.
Investors should also note that ABG has a PEG ratio of 0.62 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ABG's industry had an average PEG ratio of 1.03 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 7, putting it in the top 3% 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.
To follow ABG in the coming trading sessions, be sure to utilize Zacks.com.