AutoNation, Inc. Forecasted to Earn Q1 2019 Earnings of $1.02 Per Share (AN)
AutoNation, Inc. (NYSE:AN) – Research analysts at Jefferies Group issued their Q1 2019 EPS estimates for shares of AutoNation in a research report issued on Monday. Jefferies Group analyst B. Jordan expects that the company will post earnings per share of $1.02 for the quarter. Jefferies Group has a “Hold” rating and a $50.00 price target on the stock. Jefferies Group also issued estimates for AutoNation’s Q2 2019 earnings at $1.06 EPS and Q3 2019 earnings at $1.14 EPS.
AutoNation (NYSE:AN) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.16. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.58 billion. AutoNation had a return on equity of 16.40% and a net margin of 1.87%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share.
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Other research analysts have also recently issued research reports about the company. Wells Fargo & Company reaffirmed a “market perform” rating and set a $50.00 target price (up previously from $40.00) on shares of AutoNation in a research note on Monday. Susquehanna Bancshares Inc reaffirmed a “negative” rating on shares of AutoNation in a research note on Thursday, September 28th. UBS AG cut AutoNation from a “positive” rating to a “neutral” rating in a research note on Thursday, September 28th. Berenberg Bank began coverage on AutoNation in a research note on Wednesday, October 4th. They set a “buy” rating and a $55.00 target price for the company. Finally, Northcoast Research cut AutoNation from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. AutoNation presently has an average rating of “Hold” and an average target price of $46.88.
Shares of AutoNation (NYSE AN) traded down $0.70 during trading hours on Wednesday, reaching $51.27. The company had a trading volume of 678,667 shares, compared to its average volume of 1,130,000. The firm has a market capitalization of $4,740.00, a P/E ratio of 13.71, a P/E/G ratio of 2.02 and a beta of 1.24. The company has a quick ratio of 0.17, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. AutoNation has a 1-year low of $38.20 and a 1-year high of $55.77.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky raised its position in shares of AutoNation by 91.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 14,000 shares of the company’s stock worth $664,000 after acquiring an additional 6,700 shares during the last quarter. American International Group Inc. raised its position in shares of AutoNation by 473.3% during the third quarter. American International Group Inc. now owns 133,560 shares of the company’s stock worth $6,339,000 after acquiring an additional 110,264 shares during the last quarter. ING Groep NV acquired a new stake in shares of AutoNation during the third quarter worth $379,000. Catalyst Capital Advisors LLC acquired a new stake in shares of AutoNation during the third quarter worth $299,000. Finally, Check Capital Management Inc. CA acquired a new stake in shares of AutoNation during the third quarter worth $51,233,000. Hedge funds and other institutional investors own 75.46% of the company’s stock.
In other news, major shareholder Edward S. Lampert sold 3,480 shares of AutoNation stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $55.61, for a total transaction of $193,522.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.
AutoNation announced that its Board of Directors has approved a share repurchase program on Tuesday, August 29th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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