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Here is how Asbury Automotive Group (ABG) and Builders FirstSource (BLDR) have performed compared to their sector so far this year.
Asbury's revenue has grown at a CAGR of 11%, driven by the production of EVs and the post-pandemic boom in sales. We expect demand and growth to remain strong, owing to an aged vehicle population, the EV transition, services sales growth, business development, and M&A. We believe Asbury is an attractive proposition due to its M&A focus and well-balanced business model. We expect shareholder distributions to accelerate in the coming years.
Asbury (ABG) signs a deal to acquire Jim Koons Automotive for $1.2 billion to expand its presence in the Mid-Atlantic region.
Shares of Asbury Automotive Group Inc. ABG, -2.68% rose 3.2% in premarket trading Friday, after the auto retailer announced a deal to buy the Jim Koons auto dealership group for about $1.2 billion. Asbury said the Mid-Atlantic region dealership was the ninth-largest private dealership group in the U.S., with more than $3 billion in revenue in 2022.
Asbury Automotive (ABG) reported earnings 30 days ago. What's next for the stock?
Value investing is essentially about selecting stocks that are usually cheap but fundamentally sound. StoneCo (STNE), Unum Group (UNM), Asbury Automotive Group (ABG) and Magna International (MGA) boast low P/CF ratios.
Although the revenue and EPS for Asbury Automotive (ABG) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Asbury Automotive Group (ABG) came out with quarterly earnings of $8.95 per share, beating the Zacks Consensus Estimate of $8.15 per share. This compares to earnings of $10.04 per share a year ago.
Asbury Automotive (ABG) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Asbury Automotive (ABG) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.