Asbury Automotive Group (ABG) Stock Moves -1.46%: What You Should Know
Asbury Automotive Group (ABG) closed the most recent trading day at $188.07, moving -1.46% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.95%. Meanwhile, the Dow lost 2.37%, and the Nasdaq, a tech-heavy index, lost 0.35%.
Heading into today, shares of the auto dealership chain had gained 24.97% over the past month, outpacing the Retail-Wholesale sector's loss of 6.17% and the S&P 500's loss of 3.75% in that time.
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 $9.07 per share, which would represent year-over-year growth of 93.8%. Our most recent consensus estimate is calling for quarterly revenue of $3.99 billion, up 81.87% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $33.65 per share and revenue of $16.53 billion, which would represent changes of +23.31% and +68.03%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Asbury Automotive Group. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 12.81% higher. Asbury Automotive Group is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Asbury Automotive Group currently has a Forward P/E ratio of 5.67. This valuation marks a discount compared to its industry's average Forward P/E of 6.87.
We can also see that ABG currently has a PEG ratio of 0.31. 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. Automotive - Retail and Whole Sales stocks are, on average, holding a PEG ratio of 0.43 based on yesterday's closing prices.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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, Inc. (ABG) : Free Stock Analysis Report
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