KeyCorp Weighs in on AutoNation, Inc.’s FY2019 Earnings (AN)
AutoNation, Inc. (NYSE:AN) – Equities research analysts at KeyCorp issued their FY2019 earnings estimates for AutoNation in a research report issued on Sunday. KeyCorp analyst B. Hoselton forecasts that the company will post earnings of $4.02 per share for the year. KeyCorp currently has a “Hold” rating on the stock.
AN has been the subject of several other research reports. Susquehanna Bancshares Inc downgraded shares of AutoNation to a “neutral” rating and raised their price objective for the stock from $36.00 to $38.00 in a research note on Monday, October 2nd. UBS AG downgraded shares of AutoNation from a “positive” rating to a “neutral” rating in a research note on Thursday, September 28th. Jefferies Group LLC reissued a “hold” rating and issued a $44.00 price objective on shares of AutoNation in a research note on Sunday, September 10th. ValuEngine raised shares of AutoNation from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, Deutsche Bank AG decreased their price objective on shares of AutoNation from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. AutoNation currently has an average rating of “Hold” and a consensus target price of $46.88.
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Shares of AutoNation (AN) traded down $1.06 during midday trading on Wednesday, reaching $52.06. 716,045 shares of the company’s stock traded hands, compared to its average volume of 1,334,904. The company has a current ratio of 0.73, a quick ratio of 0.17 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $4,790.00, a P/E ratio of 13.79, a P/E/G ratio of 2.21 and a beta of 1.24. AutoNation has a twelve month low of $38.20 and a twelve month high of $55.77.
AutoNation (NYSE:AN) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.16. AutoNation had a net margin of 1.80% and a return on equity of 16.66%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter last year, the firm earned $1.05 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year.
AutoNation announced that its board has approved a stock buyback program on Tuesday, August 29th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other AutoNation news, major shareholder Edward S. Lampert sold 3,480 shares of AutoNation stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $55.61, for a total value of $193,522.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Lance E. Iserman sold 5,886 shares of AutoNation stock in a transaction on Friday, November 10th. The stock was sold at an average price of $52.46, for a total transaction of $308,779.56. Following the completion of the transaction, the chief operating officer now directly owns 4,860 shares in the company, valued at $254,955.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,733 shares of company stock worth $676,747. 3.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of AutoNation by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,890 shares of the company’s stock worth $206,000 after buying an additional 24 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of AutoNation during the third quarter worth $212,000. DekaBank Deutsche Girozentrale lifted its stake in shares of AutoNation by 8.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock worth $215,000 after buying an additional 372 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of AutoNation during the second quarter worth $219,000. Finally, Greatmark Investment Partners Inc. acquired a new stake in shares of AutoNation during the second quarter worth $231,000. 83.61% of the stock is currently owned by institutional investors and hedge funds.
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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