Revenue Update on Asbury Automotive Group(NYSE:ABG)

Asbury Automotive Group(NYSE:ABG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $1.63B. Analysts estimated a revenue of $1.72B. Earnings per share were $1.65. Analysts had estimated an EPS of $1.65.

Asbury Automotive Group (ABG) made into the market gainers list on Fridays trading session with the shares advancing 2.84% or 1.68 points. Due to strong positive momentum, the stock ended at $60.8, which is also near the day’s high of $61.4. The stock began the session at $58.97 and the volume stood at 4,04,493 shares. The 52-week high of the shares is $88.86 and the 52 week low is $43.56. The company has a current market capitalization of $1,348 M and it has 2,21,63,860 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 24, 2016, Dennis E Clements (director) sold 2,034 shares at $53.31 per share price.Also, On May 5, 2016, Joel Alsfine (director) purchased 100 shares at $58.12 per share price.On May 2, 2016, George Karolis (SVP, Corp. Dev. & Real Estate) sold 1,717 shares at $60.47 per share price, according to the Form-4 filing with the securities and exchange commission.

Asbury Automotive Group Inc. (Asbury) is an automotive retailer in the United States. The Company offers a range of automotive products and services including new and used vehicles vehicle maintenance replacement parts and collision repair services new and used vehicle financing and aftermarket products including insurance warranty and service contracts. The Company’s brand names include Nalley Automotive Group Courtesy Autogroup Coggin Automotive Group Crown Automotive Company David McDavid Auto Group Gray-Daniels Auto Family and Plaza Motor Company among others. The Company’s new vehicle sales consist of the sale of new vehicles to individual retail customers and the sale of new vehicles to commercial customers. It’s used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. It provides vehicle maintenance and repair services in the markets of its franchised dealerships.

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