KeyCorp Brokers Lower Earnings Estimates for AutoNation, Inc. (NYSE:AN)
AutoNation, Inc. (NYSE:AN) – Equities research analysts at KeyCorp cut their Q3 2017 earnings per share estimates for shares of AutoNation in a report released on Wednesday. KeyCorp analyst B. Hoselton now anticipates that the company will post earnings per share of $0.89 for the quarter, down from their prior estimate of $0.96. KeyCorp also issued estimates for AutoNation’s Q4 2017 earnings at $0.84 EPS, FY2017 earnings at $3.56 EPS and FY2018 earnings at $3.72 EPS.
AutoNation (NYSE:AN) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by $0.12. AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the prior year, the firm posted $1.08 EPS. The business’s revenue was down 3.0% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: “KeyCorp Brokers Lower Earnings Estimates for AutoNation, Inc. (NYSE:AN)” was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/05/keycorp-brokers-lower-earnings-estimates-for-autonation-inc-nysean.html.
A number of other research firms have also recently weighed in on AN. Wells Fargo & Company reaffirmed a “market perform” rating and set a $45.00 price objective (down previously from $48.50) on shares of AutoNation in a research report on Monday, July 17th. Deutsche Bank AG reaffirmed a “hold” rating and set a $50.00 price objective (down previously from $52.00) on shares of AutoNation in a research report on Saturday, April 29th. BidaskClub raised shares of AutoNation from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 price objective on shares of AutoNation in a research report on Thursday, July 6th. Finally, Morgan Stanley lowered their price objective on shares of AutoNation from $57.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $46.20.
Shares of AutoNation (AN) opened at 39.70 on Friday. The stock’s 50 day moving average is $41.66 and its 200 day moving average is $43.46. The company has a market cap of $3.97 billion, a P/E ratio of 9.89 and a beta of 1.24. AutoNation has a 1-year low of $38.20 and a 1-year high of $53.74.
Large investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new stake in AutoNation during the second quarter worth about $1,758,000. Midwest Investment Management LLC raised its stake in AutoNation by 3.5% in the second quarter. Midwest Investment Management LLC now owns 68,730 shares of the company’s stock worth $2,897,000 after buying an additional 2,320 shares during the period. Gamco Investors INC. ET AL raised its stake in AutoNation by 2.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,265,832 shares of the company’s stock worth $53,367,000 after buying an additional 35,507 shares during the period. Legal & General Group Plc raised its stake in AutoNation by 10.9% in the second quarter. Legal & General Group Plc now owns 385,429 shares of the company’s stock worth $16,249,000 after buying an additional 37,774 shares during the period. Finally, State of Wisconsin Investment Board raised its stake in AutoNation by 18.3% in the second quarter. State of Wisconsin Investment Board now owns 51,297 shares of the company’s stock worth $2,163,000 after buying an additional 7,940 shares during the period. Institutional investors own 66.17% of the company’s stock.
AutoNation Company Profile
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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