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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.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Does Asbury Automotive Group (ABG) have what it takes to be a top stock pick for momentum investors? Let's find out.
Asbury Automotive Group's shares have outperformed the broader market despite weakening financial performance. The company's Clicklane initiative, an omni-channel platform for vehicle search and acquisition, has performed well, selling 10,800 vehicles in Q1 2023, a 93% YoY increase. Despite worsening fundamentals, ABG's shares look attractive compared to its peers and the company continues to buy back stock, making it a soft 'buy' for investors.