Stock analysts expect AutoNation, Inc. (NYSE: AN) to report $ 6.45 billion in revenue for the current fiscal quarter, Zacks Investment Research reports. Four analysts provided earnings estimates for AutoNation, with the highest sales estimate at $ 6.51 billion and the lowest estimate at $ 6.41 billion. AutoNation posted sales of $ 5.79 billion in the same quarter last year, suggesting a positive year-over-year growth rate of 11.4%. The company is expected to release its next quarterly results on Tuesday, February 15.
According to Zacks, analysts expect AutoNation to report annual sales of $ 25.71 billion for the current year, with estimates ranging from $ 25.67 billion to $ 25.77 billion. For next year, analysts predict the company will post sales of $ 27.11 billion, with estimates ranging from $ 25.35 billion to $ 28.20 billion. Zacks Investment Research sales averages are an average based on a survey of research analysts who follow AutoNation.
AutoNation (NYSE: AN) last released its quarterly results on Wednesday, October 20. The company reported earnings per share (EPS) of $ 5.12 for the quarter, beating analyst consensus estimates of $ 4.20 by $ 0.92. AutoNation had a net margin of 4.54% and a return on equity of 41.00%. The company posted revenue of $ 6.38 billion in the quarter, compared to analysts’ estimates of $ 6.29 billion. During the same period last year, the company posted EPS of $ 2.38. AutoNation’s revenue for the quarter increased 18.0% from the same quarter last year.
AN has been the subject of a number of analyst reports. Benchmark raised its price target for AutoNation shares from $ 165.00 to $ 185.00 and gave the stock a “buy” rating in a research note on Friday, October 22. Morgan Stanley lowered its price target on AutoNation stock from $ 116.00 to $ 103.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 17. Truist raised its price target for the AutoNation stock from $ 110.00 to $ 130.00 and assigned the stock a “hold” rating in a research note on Friday, October 22. They noted that the move was an appraisal call. Finally, Stephens raised its price target on AutoNation shares from $ 120.00 to $ 141.00 and gave the company an “equal weight” rating in a Friday October 22nd research note. Five equity research analysts rated the stock with a conservation rating and two gave the company a buy rating. Based on data from MarketBeat.com, AutoNation currently has an average rating of “Hold” and an average target price of $ 129.29.
Meanwhile, main shareholder Cascade Investment, LLC sold 58,099 shares of the company in a transaction dated Friday, September 24. The shares were sold at an average price of $ 124.02, for a total value of $ 7,205,437.98. The sale was disclosed in a document filed with the SEC, accessible through the SEC’s website. In addition, director David B. Edelson sold 2,500 shares of AutoNation in a trade dated Friday, November 12. The shares were sold for an average price of $ 128.61, for a total value of $ 321,525.00. Disclosure of this sale can be found here. During the last quarter, insiders sold 1,305,886 shares of the company valued at $ 162,595,844. Insiders own 1.50% of the shares of the company.
A number of hedge funds and other institutional investors have recently increased or reduced their holdings in AN. Prudential Financial Inc. increased its position in AutoNation shares by 70.0% during the second quarter. Prudential Financial Inc. now owns 743,886 shares of the company valued at $ 70,527,000 after purchasing an additional 306,185 shares during the last quarter. Millennium Management LLC increased its position in AutoNation shares by 570.0% during the third quarter. Millennium Management LLC now owns 313,111 shares of the company valued at $ 38,124,000 after purchasing an additional 266,377 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in AutoNation shares by 18.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,294,303 shares of the company valued at $ 157,594,000 after purchasing an additional 204,865 shares during the last quarter. Goldman Sachs Group Inc. increased its position in AutoNation shares by 63.9% in the second quarter. Goldman Sachs Group Inc. now owns 510,169 shares of the company valued at $ 48,369,000 after purchasing an additional 198,809 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in AutoNation shares by 1,776.9% during the third quarter. Cubist Systematic Strategies LLC now owns 177,776 shares of the company valued at $ 21,646,000 after purchasing an additional 168,304 shares during the last quarter. 95.26% of the shares are held by institutional investors.
AN opened at $ 127.19 on Friday. AutoNation has a 12-month low of $ 60.45 and a 12-month high of $ 133.48. The company has a current ratio of 0.98, a quick ratio of 0.36 and a debt ratio of 1.13. The company has a market cap of $ 8.34 billion, a PE ratio of 8.75, a P / E / G ratio of 0.30 and a beta of 1.43. The company has a 50-day moving average of $ 122.20 and a two-hundred-day moving average of $ 111.49.
AutoNation said its board of directors approved a share buyback program on Thursday, October 21 that allows the company to repurchase $ 1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.7% of its shares through market purchases. Share buyback programs are often an indication that company management believes its shares are undervalued.
AutoNation Company Profile
AutoNation, Inc is engaged in the provision of automotive products and services. It operates through the following segments: domestic, import, high-end luxury and corporate and others. The domestic segment includes retail auto franchises that sell new vehicles manufactured by General Motors, Ford and Chrysler.
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