Analysts Anticipate AutoNation, Inc. (AN) Will Post Earnings of $0.89 Per Share
Brokerages expect that AutoNation, Inc. (NYSE:AN) will report earnings per share (EPS) of $0.89 for the current fiscal quarter, Zacks Investment Research reports. Sixteen analysts have made estimates for AutoNation’s earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $0.98. AutoNation reported earnings per share of $1.11 in the same quarter last year, which would suggest a negative year-over-year growth rate of 19.8%. The business is expected to report its next quarterly earnings results on Friday, October 27th.
According to Zacks, analysts expect that AutoNation will report full year earnings of $3.57 per share for the current fiscal year, with EPS estimates ranging from $3.48 to $3.67. For the next year, analysts anticipate that the business will post earnings of $3.85 per share, with EPS estimates ranging from $3.40 to $4.30. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for AutoNation.
AutoNation (NYSE:AN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.12). The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.56 billion. AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 earnings per share.
Several analysts have commented on AN shares. BidaskClub cut shares of AutoNation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Deutsche Bank AG reiterated a “hold” rating and set a $43.00 target price (down previously from $46.00) on shares of AutoNation in a research report on Wednesday, August 9th. KeyCorp reiterated a “hold” rating on shares of AutoNation in a research report on Friday, September 1st. Jefferies Group LLC reiterated a “hold” rating and set a $44.00 target price on shares of AutoNation in a research report on Sunday, September 10th. Finally, Northcoast Research upgraded shares of AutoNation from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Thursday, June 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $45.70.
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In other news, Director Robert R. Grusky sold 2,800 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.99, for a total value of $109,172.00. Following the completion of the transaction, the director now owns 30,713 shares of the company’s stock, valued at approximately $1,197,499.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale boosted its stake in AutoNation by 8.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock worth $215,000 after purchasing an additional 372 shares during the period. Invictus RG boosted its stake in AutoNation by 58.2% in the 1st quarter. Invictus RG now owns 4,981 shares of the company’s stock worth $211,000 after purchasing an additional 1,833 shares during the period. Clinton Group Inc. acquired a new position in AutoNation in the 1st quarter worth $2,065,000. Dynamic Capital Management Ltd acquired a new position in AutoNation in the 1st quarter worth $581,000. Finally, Private Management Group Inc. boosted its stake in AutoNation by 43.9% in the 2nd quarter. Private Management Group Inc. now owns 728,091 shares of the company’s stock worth $30,696,000 after purchasing an additional 222,267 shares during the period. 73.44% of the stock is owned by hedge funds and other institutional investors.
Shares of AutoNation (NYSE:AN) traded up 0.70% during trading on Thursday, reaching $46.31. The company’s stock had a trading volume of 1,435,150 shares. AutoNation has a 12 month low of $38.20 and a 12 month high of $53.74. The company’s 50-day moving average is $42.76 and its 200-day moving average is $42.01. The company has a market capitalization of $4.65 billion, a P/E ratio of 11.52 and a beta of 1.22.
AutoNation declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 29th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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