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28900.0 | 2015-04-27 00:00:00 UTC | 3 Reasons Why Asbury Automotive Group (ABG) Is a Great Growth Stock - Tale of the Tape | ABG | https://www.nasdaq.com/articles/3-reasons-why-asbury-automotive-group-abg-is-a-great-growth-stock-tale-of-the-tape-2015-04 | nan | nan | Finding a great growth stock can be a tough task. Not only are there a wide range of choices, but the space can be extremely volatile and fraught with risk as well. But thanks to our new style score system we have been able to identify a few growth stocks which have incredible potential in the near term.
One such company that stands out in this regard is undoubtedly Asbury Automotive Group, Inc. ( ABG ). Not only does this company have a favorable growth score, but it is ranked as a buy too. And while there are numerous reasons why ABG is so attractive right now, we have highlighted three of the most important-and pertinent to growth investors-below:
Earnings Growth for ABG
Arguably nothing is more important than earnings growth as surging profit levels is what most investors are after. And for growth investors, earnings growth in the double digits is definitely necessary and it is often an indication of strong prospects (and stock price gains) ahead for the company in question.
While ABG has put up an impressive historical EPS growth rate of 35.83%, investors should focus on the projected growth as well. Here, ABG is looking to grow at a rate of 22.96%, crushing the industry average which calls for EPS growth of just 12.64% in comparison.
Cash Flow Growth for ABG
Cash is the lifeblood of any business, but especially so for growth oriented companies. A positive figure here indicates that cash is flowing into the business (obviously a good thing), while a negative reading here means that net cash is exiting the company.
Right now, ABG's current cash flow growth is an impressive 19.29%, a level that is far higher than many of its peers, and the industry average. In fact, the industry average sees cash flow growth of just 4.49% in comparison, suggesting that ABG is a better pick from a cash flow perspective.
ABG Earnings Estimate Revisions Moving in the Right Direction
If the metrics outlined above weren't enough, investors should also consider the positive trends that we are seeing on the analyst estimate revision front. Analysts have been raising their estimates for Asbury Automotive Group lately, and now the earnings picture is looking a bit more favorable for the company.
Over the past 30 days, 6 EPS estimates have been revised higher compared to none lower, at least for the current year time frame. And the magnitude of these revisions has also been impressive, as the consensus estimate for the full year has surged from $5.14 per share to $5.37 per share today.
Bottom Line
For the reasons outlined above, investors shouldn't be surprised to note that Asbury Automotive Group has earned itself a growth score of 'A' as well as a Zacks Rank #2 (Buy). This means that we believe Asbury Automotive Group stock is a potential outperformer that is an impressive choice for growth investors, making it a security that you need to keep on your radar in the near term.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | One such company that stands out in this regard is undoubtedly Asbury Automotive Group, Inc. ( ABG ). And while there are numerous reasons why ABG is so attractive right now, we have highlighted three of the most important-and pertinent to growth investors-below: Earnings Growth for ABG Arguably nothing is more important than earnings growth as surging profit levels is what most investors are after. While ABG has put up an impressive historical EPS growth rate of 35.83%, investors should focus on the projected growth as well. | Right now, ABG's current cash flow growth is an impressive 19.29%, a level that is far higher than many of its peers, and the industry average. Click to get this free report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. One such company that stands out in this regard is undoubtedly Asbury Automotive Group, Inc. ( ABG ). | And while there are numerous reasons why ABG is so attractive right now, we have highlighted three of the most important-and pertinent to growth investors-below: Earnings Growth for ABG Arguably nothing is more important than earnings growth as surging profit levels is what most investors are after. Cash Flow Growth for ABG Cash is the lifeblood of any business, but especially so for growth oriented companies. One such company that stands out in this regard is undoubtedly Asbury Automotive Group, Inc. ( ABG ). | Right now, ABG's current cash flow growth is an impressive 19.29%, a level that is far higher than many of its peers, and the industry average. One such company that stands out in this regard is undoubtedly Asbury Automotive Group, Inc. ( ABG ). And while there are numerous reasons why ABG is so attractive right now, we have highlighted three of the most important-and pertinent to growth investors-below: Earnings Growth for ABG Arguably nothing is more important than earnings growth as surging profit levels is what most investors are after. |
28901.0 | 2015-04-27 00:00:00 UTC | Auto Dealer CarMax Speeds Past Q4 Earnings Views | ABG | https://www.nasdaq.com/articles/auto-dealer-carmax-speeds-past-q4-earnings-views-2015-04-27 | nan | nan | A rebound in auto sales over the past couple of years has given a boost to car dealership operators like CarMax, which saw its share price rise to a record high this month on a robust fourth quarter.
CarMax ( KMX ), the largest used-car retailer in America, has benefited from strong consumer demand, store expansion and advances in its finance arm.
"Right now, the results are fantastic," David Whiston, a Morningstar analyst, told IBD. "Everything is humming for them."
CarMax has used its dominant market-share position in the used-car realm to capitalize consistently on favorable macroeconomic conditions, Whiston said.
Primed To Buy
Those conditions include a rebounding economy and improving job market, both of which have given Americans more discretionary income to put toward autos.
According to Autodata, an industry research and tracking firm, 16.5 million new vehicles were sold in the U.S. last year -- the highest total since 2006. New-vehicle sales for March rose 0.6% from the prior year to 1.54 million units.
While some observers view new and used auto sales as distinct from each other, they in fact run in tandem. Strong new-car sales lead people to trade in used cars, Whiston says, keeping the used-car supply healthy. The healthy supply helps attract used-car buyers and benefits major players such as CarMax. "CarMax is a volume business, and volume has been great," Whiston said.
It certainly was good enough in CarMax's fiscal fourth quarter, which ended in February. The firm reported results on April 2. It posted earnings of 67 cents a share, up from 52 cents the prior year and 7 cents above consensus analyst views.
Revenue rose 14% to $3.51 billion, in line with expectations. Used unit sales in comparable stores increased 7% for the quarter and 4.4% for the full fiscal year. It was the ninth time in the past 10 quarters that CarMax's sales and earnings have risen in double digits.
Stock Boost
The Q4 results pushed CarMax shares to a record high of 75.40 on April 2 before closing the day up 9% to 74.73. The stock currently trades near 70.
CarMax has an IBD Composite Rating of 95 and is among the highest rated in IBD's Retail/Wholesale-Automobile group. Other leaders in the group includeAutoNation ( AN ),Penske Automotive Group ( PAG ),Lithia Motors ( LAD ) andAsbury Automotive Group ( ABG ).
Officials at CarMax declined to comment for this article. A spokesman said that the company does not provide financial guidance or forward-looking statements on operating conditions. But analysts say that conditions continue to look favorable, at least in the near term.
Alec Gutierrez, a senior market analyst for Kelley Blue Book, agrees with Whiston that new-auto sales help drive sales of used cars. Gutierrez projects new-auto sales of 16.9 million units this year.
Gutierrez's research, based on car and truck buyer registrations, shows that used-auto sales have hovered between 37 million and 40 million per year the past few years. More than 39 million were sold last year, he said, and he expects 2015 sales to approach 40 million again.
"The market has really done well," Gutierrez said.
He says that new-car sales are bound to peak soon -- perhaps this year -- as only so many Americans need new vehicles. But with credit readily available, Gutierrez expects new-auto sales to remain strong and average 16.3 million units a year from 2016 to 2018.
Meanwhile, trade-ins of leased cars could bolster the used-car market in coming years.
Excluding fleet sales to rental car companies and others, 26% of all new cars sold last year were leases, Gutierrez said.
Buyers who lease tend to trade in those cars after two or three years. So all those autos leased in 2014 will start to roll onto used-car lots by 2017, Gutierrez says, providing appealing inventory for the likes of CarMax.
To be sure, CarMax is showing confidence in the future by making investments. During a call with analysts in early April, CEO Thomas Folliard said that the company plans to open 13 to 16 new stores annually over the next three years, extending an aggressive growth trend.
"I think we have added 50 stores since 2011 (and) increased the company size from 90-ish stores to 145 or so," Folliard said on the call.
The actual store count was 144 as of Feb. 28.
CarMax is also experimenting with a subprime lending venture to attract more buyers and deepen the customer base of its profitable finance arm. The program, launched in early 2014, is still in the pilot stage.
During its fourth quarter, CarMax originated $15.5 million in subprime loans. CarMax Auto Finance's total income grew 11.8% year over year to $90.4 million.
In a Q4 press release, the company said that it plans to extend the pilot program at a similar rate of originations while continuing to evaluate the performance of subprime loans.
"While this is not yet the announcement of a full expansion that investors are looking for, we see this as dry powder for future earnings improvement," Deutsche Bank Securities analyst Rod Lache noted in an April report. "Importantly, this mitigates potential risk from a pullback by third-party subprime lenders."
Credit Tightening?
Meanwhile, some analysts warn that CarMax's growth will slow as lending grows tighter. They note that comparatively easy access to credit has been a big driver of auto sales and that credit availability tends to tighten significantly after flowing freely for long periods.
In an April report, Wedbush analyst Seth Basham said that CarMax's same-store sales could begin losing momentum in the second half of this year as "credit availability tailwinds fade."
While Basham says he has little doubt that CarMax will continue to expand for several years, tightening credit conditions would likely slow the pace of that growth.
"We see credit expansion slowing, if not contracting," Basham noted. "Given the fact that CarMax's sales are highly correlated to credit availability, and sales are the most important driver of stock performance, we expect shares to languish as sales at best meet consensus expectations."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other leaders in the group includeAutoNation ( AN ),Penske Automotive Group ( PAG ),Lithia Motors ( LAD ) andAsbury Automotive Group ( ABG ). A rebound in auto sales over the past couple of years has given a boost to car dealership operators like CarMax, which saw its share price rise to a record high this month on a robust fourth quarter. "While this is not yet the announcement of a full expansion that investors are looking for, we see this as dry powder for future earnings improvement," Deutsche Bank Securities analyst Rod Lache noted in an April report. | Other leaders in the group includeAutoNation ( AN ),Penske Automotive Group ( PAG ),Lithia Motors ( LAD ) andAsbury Automotive Group ( ABG ). But with credit readily available, Gutierrez expects new-auto sales to remain strong and average 16.3 million units a year from 2016 to 2018. During its fourth quarter, CarMax originated $15.5 million in subprime loans. | Other leaders in the group includeAutoNation ( AN ),Penske Automotive Group ( PAG ),Lithia Motors ( LAD ) andAsbury Automotive Group ( ABG ). A rebound in auto sales over the past couple of years has given a boost to car dealership operators like CarMax, which saw its share price rise to a record high this month on a robust fourth quarter. Gutierrez's research, based on car and truck buyer registrations, shows that used-auto sales have hovered between 37 million and 40 million per year the past few years. | Other leaders in the group includeAutoNation ( AN ),Penske Automotive Group ( PAG ),Lithia Motors ( LAD ) andAsbury Automotive Group ( ABG ). Used unit sales in comparable stores increased 7% for the quarter and 4.4% for the full fiscal year. Gutierrez's research, based on car and truck buyer registrations, shows that used-auto sales have hovered between 37 million and 40 million per year the past few years. |
28902.0 | 2015-04-14 00:00:00 UTC | Zacks Rank #1 Additions for Tuesday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-rank-1-additions-for-tuesday-tale-of-the-tape-2015-04-14 | nan | nan | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today:
Agile Therapeutics Inc ( AGRX )
Arista Networks Inc ( ANET )
Arlington Asset Investment Corp ( AI )
Asbury Automotive Group, Inc. ( ABG )
Ashford Hospitality Trust, Inc. ( AHT )
View the entire Zacks Rank #1 List .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Agile Therapeutics Inc ( AGRX ) Arista Networks Inc ( ANET ) Arlington Asset Investment Corp ( AI ) Asbury Automotive Group, Inc. ( ABG ) Ashford Hospitality Trust, Inc. ( AHT ) View the entire Zacks Rank #1 List . Click to get this free report AGILE THERAP (AGRX): Free Stock Analysis Report ARISTA NETWORKS (ANET): Free Stock Analysis Report ARLINGTON ASSET (AI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASHFORD HOSPTLY (AHT): Free Stock Analysis Report To read this article on Zacks.com click here. Want the latest recommendations from Zacks Investment Research? | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Agile Therapeutics Inc ( AGRX ) Arista Networks Inc ( ANET ) Arlington Asset Investment Corp ( AI ) Asbury Automotive Group, Inc. ( ABG ) Ashford Hospitality Trust, Inc. ( AHT ) View the entire Zacks Rank #1 List . Click to get this free report AGILE THERAP (AGRX): Free Stock Analysis Report ARISTA NETWORKS (ANET): Free Stock Analysis Report ARLINGTON ASSET (AI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASHFORD HOSPTLY (AHT): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Agile Therapeutics Inc ( AGRX ) Arista Networks Inc ( ANET ) Arlington Asset Investment Corp ( AI ) Asbury Automotive Group, Inc. ( ABG ) Ashford Hospitality Trust, Inc. ( AHT ) View the entire Zacks Rank #1 List . Click to get this free report AGILE THERAP (AGRX): Free Stock Analysis Report ARISTA NETWORKS (ANET): Free Stock Analysis Report ARLINGTON ASSET (AI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASHFORD HOSPTLY (AHT): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Agile Therapeutics Inc ( AGRX ) Arista Networks Inc ( ANET ) Arlington Asset Investment Corp ( AI ) Asbury Automotive Group, Inc. ( ABG ) Ashford Hospitality Trust, Inc. ( AHT ) View the entire Zacks Rank #1 List . Click to get this free report AGILE THERAP (AGRX): Free Stock Analysis Report ARISTA NETWORKS (ANET): Free Stock Analysis Report ARLINGTON ASSET (AI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASHFORD HOSPTLY (AHT): Free Stock Analysis Report To read this article on Zacks.com click here. Today, you can download 7 Best Stocks for the Next 30 Days. |
28903.0 | 2015-04-10 00:00:00 UTC | Zacks Rank #1 Additions for Friday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-rank-1-additions-for-friday-tale-of-the-tape-2015-04-10 | nan | nan | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today:
Apple Inc. ( AAPL )
Asbury Automotive Group, Inc. ( ABG )
AVEO Pharmaceuticals, Inc. ( AVEO )
Axis Capital Holdings Limited ( AXS )
Blackrock Capital Investment Corp ( BKCC )
View the entire Zacks Rank #1 List .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Apple Inc. ( AAPL ) Asbury Automotive Group, Inc. ( ABG ) AVEO Pharmaceuticals, Inc. ( AVEO ) Axis Capital Holdings Limited ( AXS ) Blackrock Capital Investment Corp ( BKCC ) View the entire Zacks Rank #1 List . Click to get this free report APPLE INC (AAPL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AXIS CAP HLDGS (AXS): Free Stock Analysis Report BLACKROCK KELSO (BKCC): Get Free Report To read this article on Zacks.com click here. Want the latest recommendations from Zacks Investment Research? | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Apple Inc. ( AAPL ) Asbury Automotive Group, Inc. ( ABG ) AVEO Pharmaceuticals, Inc. ( AVEO ) Axis Capital Holdings Limited ( AXS ) Blackrock Capital Investment Corp ( BKCC ) View the entire Zacks Rank #1 List . Click to get this free report APPLE INC (AAPL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AXIS CAP HLDGS (AXS): Free Stock Analysis Report BLACKROCK KELSO (BKCC): Get Free Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Apple Inc. ( AAPL ) Asbury Automotive Group, Inc. ( ABG ) AVEO Pharmaceuticals, Inc. ( AVEO ) Axis Capital Holdings Limited ( AXS ) Blackrock Capital Investment Corp ( BKCC ) View the entire Zacks Rank #1 List . Click to get this free report APPLE INC (AAPL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AXIS CAP HLDGS (AXS): Free Stock Analysis Report BLACKROCK KELSO (BKCC): Get Free Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Apple Inc. ( AAPL ) Asbury Automotive Group, Inc. ( ABG ) AVEO Pharmaceuticals, Inc. ( AVEO ) Axis Capital Holdings Limited ( AXS ) Blackrock Capital Investment Corp ( BKCC ) View the entire Zacks Rank #1 List . Click to get this free report APPLE INC (AAPL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AXIS CAP HLDGS (AXS): Free Stock Analysis Report BLACKROCK KELSO (BKCC): Get Free Report To read this article on Zacks.com click here. Want the latest recommendations from Zacks Investment Research? |
28904.0 | 2015-04-09 00:00:00 UTC | 3 Reasons Value Stock Investors Will Love Asbury Automotive Group (ABG) - Tale of the Tape | ABG | https://www.nasdaq.com/articles/3-reasons-value-stock-investors-will-love-asbury-automotive-group-abg-tale-of-the-tape | nan | nan | Many investors like to look for value in stocks, but this can be very tough to define. There is great debate regarding which metrics are the best to focus on in this regard, and which are not really quality indicators of future performance. Fortunately, with our new style score system we have identified the key statistics to pay close attention to and thus which stocks might be the best for value investors in the near term.
This method discovered several great candidates for value-oriented investors, but today let's focus on Asbury Automotive Group, Inc. ( ABG ) as this stock is looking especially impressive right now. And while there are numerous reasons why this is the case, we have highlighted three of the most vital reasons for ABG's status as a solid value stock below:
Price to Forward Sales for Asbury Automotive Group
One of the most underrated ratios for value investors is the price/forward sales metric. This ratio shows investors how much they are paying for each dollar of revenues generated. In other words, a lower number is better here while a price to sales ratio of 1 means that you are paying one dollar for each dollar in sales.
With a P/S ratio of 0.41, ABG investors are paying 41 cents in stock price for each dollar of revenue generated by the company. Compare this to the industry average of 0.78, and it is safe to say that ABG is undervalued compared to many of its peers on this important metric.
Forward PE for Asbury Automotive Group
Easily one of the most popular readings for value investors, the forward PE ratio shows us the current price of a stock divided by the full year earnings. Generally speaking, value investors like to see this ratio below 20, though it can vary by industry.
Right now, ABG has a forward PE of just 16.53, which means that investors are paying $16.53 for each dollar in expected Asbury Automotive Group earnings this year. Compared to the industry at large this is pretty favorable as the overall space has an average PE of 20.64 in comparison.
ABG Earnings Estimate Revisions Moving in the Right Direction
The solid value ratios outlined in the preceding paragraphs might be enough for some investors, but we should also note that the earnings estimate revisions have been trending in a positive direction as well. Analysts who follow ABG stock have been raising their estimates for the company lately, meaning that the EPS picture is looking a bit more favourably for Asbury Automotive Group now.
Over the past 30/60 days 2 earnings estimates have gone higher compared to none lower for the full year, while we are also seeing 2 upward revisions compared to no downward for the next year time frame too. These revisions have helped to boost the consensus estimate, as 60 days ago ABG was expected to post earnings of $5.08 per share for the full year, though today it looks to have EPS of $5.14 for the full year.
Bottom Line
For the reasons detailed above, investors shouldn't be surprised to read that we have ABG as a stock with a Value Score of 'A' and a Zacks Rank #2 (Buy). So if you are a value investor, definitely keep ABG on your short list as this looks be a stock that is very well-positioned for gains in the near term.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This method discovered several great candidates for value-oriented investors, but today let's focus on Asbury Automotive Group, Inc. ( ABG ) as this stock is looking especially impressive right now. Analysts who follow ABG stock have been raising their estimates for the company lately, meaning that the EPS picture is looking a bit more favourably for Asbury Automotive Group now. Bottom Line For the reasons detailed above, investors shouldn't be surprised to read that we have ABG as a stock with a Value Score of 'A' and a Zacks Rank #2 (Buy). | And while there are numerous reasons why this is the case, we have highlighted three of the most vital reasons for ABG's status as a solid value stock below: Price to Forward Sales for Asbury Automotive Group One of the most underrated ratios for value investors is the price/forward sales metric. Right now, ABG has a forward PE of just 16.53, which means that investors are paying $16.53 for each dollar in expected Asbury Automotive Group earnings this year. This method discovered several great candidates for value-oriented investors, but today let's focus on Asbury Automotive Group, Inc. ( ABG ) as this stock is looking especially impressive right now. | And while there are numerous reasons why this is the case, we have highlighted three of the most vital reasons for ABG's status as a solid value stock below: Price to Forward Sales for Asbury Automotive Group One of the most underrated ratios for value investors is the price/forward sales metric. Right now, ABG has a forward PE of just 16.53, which means that investors are paying $16.53 for each dollar in expected Asbury Automotive Group earnings this year. This method discovered several great candidates for value-oriented investors, but today let's focus on Asbury Automotive Group, Inc. ( ABG ) as this stock is looking especially impressive right now. | This method discovered several great candidates for value-oriented investors, but today let's focus on Asbury Automotive Group, Inc. ( ABG ) as this stock is looking especially impressive right now. Right now, ABG has a forward PE of just 16.53, which means that investors are paying $16.53 for each dollar in expected Asbury Automotive Group earnings this year. These revisions have helped to boost the consensus estimate, as 60 days ago ABG was expected to post earnings of $5.08 per share for the full year, though today it looks to have EPS of $5.14 for the full year. |
28905.0 | 2015-04-06 00:00:00 UTC | Group 1 Automotive (GPI) Acquires Prestige Audi in Florida - Analyst Blog | ABG | https://www.nasdaq.com/articles/group-1-automotive-gpi-acquires-prestige-audi-in-florida-analyst-blog-2015-04-06 | nan | nan | Recently, Group 1 AutomotiveGPI announced that that it has acquired a new Audi dealership - Prestige Audi - in North Miami Beach, FL. The dealership is one of the top-ten Audi dealerships selling new vehicles in the U.S.
The Prestige Audi dealership is expected to generate $160 million in annual revenues. Now Group 1 Automotive has nine Audi dealerships across Florida, Texas, South Carolina, Massachusetts and the UK.
Group 1 Automotive regularly acquires dealerships and franchises to expand its business. In 2012 and 2013, the company had acquired 16 and 38 franchises, respectively. In 2014, the company acquired 19 franchises with expected annual revenues of $910 million. The company also disposed off 12 franchises that generated trailing 12-month revenues of $450 million in 2014.
In Mar 2015, the company acquired an Audi dealership located in Euless, TX in the Dallas-Fort Worth (DFW) metropolitan area. This dealership, which will operate as DFW Audi, is expected to boost annual revenues by $80 million. Regular acquisitions will help boost the company's sales.
Group 1 Automotive is one of the leading automotive retailers in the world. As of Apr 2, 2015, the company operated 152 automotive dealerships, 197 franchises and 38 collision centers in the U.S, the UK and Brazil, offering 32 brands of automobiles.
Currently, Group 1 Automotive carries a Zacks Rank #2 (Buy). Other favorably-placed automobile stocks include Asbury Automotive Group, Inc. ABG , AutoNation Inc. AN and Lithia Motors Inc. LAD . While Asbury Automotive sports a Zacks Rank #1 (Strong Buy), both AutoNation and Lithia Motors carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other favorably-placed automobile stocks include Asbury Automotive Group, Inc. ABG , AutoNation Inc. AN and Lithia Motors Inc. LAD . Click to get this free report GROUP 1 AUTO (GPI): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. In Mar 2015, the company acquired an Audi dealership located in Euless, TX in the Dallas-Fort Worth (DFW) metropolitan area. | Other favorably-placed automobile stocks include Asbury Automotive Group, Inc. ABG , AutoNation Inc. AN and Lithia Motors Inc. LAD . Click to get this free report GROUP 1 AUTO (GPI): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. While Asbury Automotive sports a Zacks Rank #1 (Strong Buy), both AutoNation and Lithia Motors carry a Zacks Rank #2 (Buy). | Click to get this free report GROUP 1 AUTO (GPI): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Other favorably-placed automobile stocks include Asbury Automotive Group, Inc. ABG , AutoNation Inc. AN and Lithia Motors Inc. LAD . Group 1 Automotive regularly acquires dealerships and franchises to expand its business. | Other favorably-placed automobile stocks include Asbury Automotive Group, Inc. ABG , AutoNation Inc. AN and Lithia Motors Inc. LAD . Click to get this free report GROUP 1 AUTO (GPI): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. In 2012 and 2013, the company had acquired 16 and 38 franchises, respectively. |
28906.0 | 2015-04-01 00:00:00 UTC | Interesting ABG Put And Call Options For May 15th | ABG | https://www.nasdaq.com/articles/interesting-abg-put-and-call-options-may-15th-2015-04-01 | nan | nan | Investors in Asbury Automotive Group, Inc (Symbol: ABG) saw new options begin trading this week, for the May 15th expiration. At Stock Options Channel , our YieldBoost formula has looked up and down the ABG options chain for the new May 15th contracts and identified one put and one call contract of particular interest.
The put contract at the $80.00 strike price has a current bid of 20 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $80.00, but will also collect the premium, putting the cost basis of the shares at $79.80 (before broker commissions). To an investor already interested in purchasing shares of ABG, that could represent an attractive alternative to paying $82.66/share today.
Because the $80.00 strike represents an approximate 3% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 64%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract . Should the contract expire worthless, the premium would represent a 0.25% return on the cash commitment, or 2.07% annualized - at Stock Options Channel we call this the YieldBoost .
Below is a chart showing the trailing twelve month trading history for Asbury Automotive Group, Inc, and highlighting in green where the $80.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $85.00 strike price has a current bid of 10 cents. If an investor was to purchase shares of ABG stock at the current price level of $82.66/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $85.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 2.95% if the stock gets called away at the May 15th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ABG shares really soar, which is why looking at the trailing twelve month trading history for Asbury Automotive Group, Inc, as well as studying the business fundamentals becomes important. Below is a chart showing ABG's trailing twelve month trading history, with the $85.00 strike highlighted in red:
Considering the fact that the $85.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 58%. On our website under the contract detail page for this contract , Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 0.12% boost of extra return to the investor, or 1.00% annualized, which we refer to as the YieldBoost .
The implied volatility in the put contract example is 32%, while the implied volatility in the call contract example is 30%. Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $82.66) to be 27%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if ABG shares really soar, which is why looking at the trailing twelve month trading history for Asbury Automotive Group, Inc, as well as studying the business fundamentals becomes important. Below is a chart showing ABG's trailing twelve month trading history, with the $85.00 strike highlighted in red: Considering the fact that the $85.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Asbury Automotive Group, Inc (Symbol: ABG) saw new options begin trading this week, for the May 15th expiration. | Below is a chart showing ABG's trailing twelve month trading history, with the $85.00 strike highlighted in red: Considering the fact that the $85.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Asbury Automotive Group, Inc (Symbol: ABG) saw new options begin trading this week, for the May 15th expiration. At Stock Options Channel , our YieldBoost formula has looked up and down the ABG options chain for the new May 15th contracts and identified one put and one call contract of particular interest. | Below is a chart showing ABG's trailing twelve month trading history, with the $85.00 strike highlighted in red: Considering the fact that the $85.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Asbury Automotive Group, Inc (Symbol: ABG) saw new options begin trading this week, for the May 15th expiration. At Stock Options Channel , our YieldBoost formula has looked up and down the ABG options chain for the new May 15th contracts and identified one put and one call contract of particular interest. | At Stock Options Channel , our YieldBoost formula has looked up and down the ABG options chain for the new May 15th contracts and identified one put and one call contract of particular interest. Below is a chart showing ABG's trailing twelve month trading history, with the $85.00 strike highlighted in red: Considering the fact that the $85.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Asbury Automotive Group, Inc (Symbol: ABG) saw new options begin trading this week, for the May 15th expiration. |
28907.0 | 2015-04-01 00:00:00 UTC | Conns Inc. (CONN) in Focus: Stock Jumps 5.6% - Tale of the Tape | ABG | https://www.nasdaq.com/articles/conns-inc.-conn-in-focus%3A-stock-jumps-5.6-tale-of-the-tape-2015-04-01-0 | nan | nan | Conns Inc. ( CONN ) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 26.22% in the past one-month time frame.
None of the estimates for this retail electronic stores stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday's price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Conns currently carries a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the broad retail-wholesale sector is Asbury Automotive Group, Inc. ( ABG ), carrying a Zacks Rank #1 (Strong Buy).
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ASBURY AUTO GRP (ABG): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A better-ranked stock in the broad retail-wholesale sector is Asbury Automotive Group, Inc. ( ABG ), carrying a Zacks Rank #1 (Strong Buy). Click to get this free report CONNS INC (CONN): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. This continues the recent uptrend for the company as the stock is now up 26.22% in the past one-month time frame. | Click to get this free report CONNS INC (CONN): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. A better-ranked stock in the broad retail-wholesale sector is Asbury Automotive Group, Inc. ( ABG ), carrying a Zacks Rank #1 (Strong Buy). Want the latest recommendations from Zacks Investment Research? | A better-ranked stock in the broad retail-wholesale sector is Asbury Automotive Group, Inc. ( ABG ), carrying a Zacks Rank #1 (Strong Buy). Click to get this free report CONNS INC (CONN): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Conns Inc. ( CONN ) was a big mover last session, as the company saw its shares rise nearly 6% on the day. | A better-ranked stock in the broad retail-wholesale sector is Asbury Automotive Group, Inc. ( ABG ), carrying a Zacks Rank #1 (Strong Buy). Click to get this free report CONNS INC (CONN): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Conns Inc. ( CONN ) was a big mover last session, as the company saw its shares rise nearly 6% on the day. |
28908.0 | 2015-03-24 00:00:00 UTC | Lithia Motors' Strategic Steps, Q4 Lead to 52-Week High - Analyst Blog | ABG | https://www.nasdaq.com/articles/lithia-motors-strategic-steps-q4-lead-to-52-week-high-analyst-blog-2015-03-24 | nan | nan | On Mar 23, 2015, shares of Lithia Motors Inc.LAD reached a new 52-week high of $99.50, before eventually closing at $97.81. The closing price represents a year-to-date return of 12.3%.
Share Price Drivers
On Feb 25, Lithia Motors reported a 44.9% rise in adjusted earnings per share to $1.42 in the fourth quarter of 2014 from 98 cents in the corresponding quarter last year. Earnings also surpassed the Zacks Consensus Estimate by 23 cents.
Revenues for the quarter increased 75% to $1.79 billion from $1.02 billion in the year-ago quarter. The improvement was driven by better performance across all segments, with the company's new vehicle sales being the bright spot. Revenues also surpassed the Zacks Consensus Estimate of $1.72 billion.
Lithia Motors expects earnings in the range of $1.18-$1.21 per share for the first quarter of 2015, and $5.95-$6.05 per share for full-year 2015. The company expects revenues between $7.5 billion and $7.7 billion for 2015, with a 41.5% increase in new vehicle sales and a 36.5% rise in used vehicle sales. Sales from service body and parts will likely increase 41%. Capital expenditure is expected to be $120 million.
Lithia Motors pursues an active share repurchase policy in order to return value to shareholders. The company repurchased 26,729 shares at an average price of $70.52 per share in 2014.
In addition, Lithia Motors benefiting from the expansion of its business through acquisitions. In 2014, the company acquired 35 stores and opened one franchise. So far in 2015, Lithia Motors has opened a new store in the Houston, TX market with Clearlake Subaru.
Lithia Motors currently carries a Zacks Rank #2 (Buy).
Other Stocks to Consider
Other well-performing stocks in the same industry include Asbury Automotive Group, Inc. ABG , Group 1 Automotive Inc. GPI and America's Car-Mart Inc. CRMT . While Asbury Automotive sports a Zacks Rank #1 (Strong Buy), both Group 1 Automotive and America's Car-Mart carry a Zacks Rank #2.
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LITHIA MOTORS (LAD): Free Stock Analysis Report
AMERICAS CAR-MT (CRMT): Free Stock Analysis Report
GROUP 1 AUTO (GPI): Free Stock Analysis Report
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other Stocks to Consider Other well-performing stocks in the same industry include Asbury Automotive Group, Inc. ABG , Group 1 Automotive Inc. GPI and America's Car-Mart Inc. CRMT . Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. The improvement was driven by better performance across all segments, with the company's new vehicle sales being the bright spot. | Other Stocks to Consider Other well-performing stocks in the same industry include Asbury Automotive Group, Inc. ABG , Group 1 Automotive Inc. GPI and America's Car-Mart Inc. CRMT . Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. While Asbury Automotive sports a Zacks Rank #1 (Strong Buy), both Group 1 Automotive and America's Car-Mart carry a Zacks Rank #2. | Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Other Stocks to Consider Other well-performing stocks in the same industry include Asbury Automotive Group, Inc. ABG , Group 1 Automotive Inc. GPI and America's Car-Mart Inc. CRMT . Share Price Drivers On Feb 25, Lithia Motors reported a 44.9% rise in adjusted earnings per share to $1.42 in the fourth quarter of 2014 from 98 cents in the corresponding quarter last year. | Other Stocks to Consider Other well-performing stocks in the same industry include Asbury Automotive Group, Inc. ABG , Group 1 Automotive Inc. GPI and America's Car-Mart Inc. CRMT . Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Share Price Drivers On Feb 25, Lithia Motors reported a 44.9% rise in adjusted earnings per share to $1.42 in the fourth quarter of 2014 from 98 cents in the corresponding quarter last year. |
28909.0 | 2015-02-26 00:00:00 UTC | Bull of the Day: Group 1 Auto (GPI) - Bull of the Day | ABG | https://www.nasdaq.com/articles/bull-day-group-1-auto-gpi-bull-day-2015-02-26 | nan | nan | Earnings estimates have been soaring for Group 1 Automotive ( GPI ) after the company delivered strong Q4 results on February 5. Both revenues and earnings easily surpassed the Zacks Consensus Estimates due to strength in both new and used vehicle sales, as well as expanding profit margins.
Group 1 is a Zacks Rank #1 (Strong Buy) stock. The valuation picture looks very reasonable too with shares trading at 12x forward earnings and 0.2x sales. Group 1 Automotive owns and operates 150 automotive dealerships, 195 franchises, and 38 collision centers in the United States, the United Kingdom and Brazil. The company sells new and used cars and light trucks, arranges related vehicle financing, sells service and insurance contracts, provides automotive maintenance and repair services and sells vehicle parts. In 2014, the company's revenue was divided as follows: New Vehicle Sales: 58%
Used Vehicle Sales: 27%
Parts & Service: 11%
Finance, Insurance & Other: 4% Interestingly, while 'Parts & Service' made up just 11% of total revenue last year, it accounted for 41% of total gross profit due to significantly higher margins than in both new and used vehicle sales. Fourth Quarter Results Group 1 delivered better-than-expected fourth quarter results on February 5. Adjusted earnings per share came in at $1.67, crushing the Zacks Consensus Estimate of $1.31. It was a 55% increase over the same quarter last year. Total revenue rose 11% year-over-year to $2.539 billion, beating the consensus of $2.479 billion. New vehicle revenues increased 9.9% on 8.4% higher unit sales. New vehicle gross profit increased 4.4% per unit to $1,973. Retail used vehicle revenues jumped 15.6% due to a 15.1% increase in unit sales. And Parts & Service revenue rose 9.5%. Overall, the adjusted operating margin improved 60 basis points to 3.5%. Estimates Rising Following strong Q4 results, analysts revised their estimates significantly higher for Group 1. This sent the stock to a Zacks Rank #1 (Strong Buy). The 2015 Zacks Consensus Estimate increased from $6.49 before the report to $6.80. The 2016 consensus increased from $7.09 to $7.58 over the same period. Group 1 is not the only auto retailer seeing positive estimate revisions these days. In fact, the 'Retail/Wholesale Auto/Truck' industry ranks in the top 10 out of 265 industries that Zacks ranks based on earnings momentum. Other auto retailers like Asbury Auto Group ( ABG ), AutoNation ( AN ), Lithia Motors ( LAD ), and Sonic Automotive ( SAH ) all sport either a Zacks Rank of 1 (Strong Buy) or 2 (Buy). One of the reasons for this has been the strong rebound in new car sales from the depths of the Great Recession. Reasonable Valuation The valuation picture looks reasonable for Group 1. Shares trade at 12x 12-month forward earnings, a discount to the industry median of 13x. Its price to sales ratio of 0.2 is also below the industry median of 0.3. The Bottom Line With favorable industry trends, rising earnings estimates and reasonable valuation, Group 1 Automotive offers investors a lot to like. Todd Bunton, CFA is a Stock Strategist for Zacks Investment Research and Editor of the Income Plus Investor and Surprise Trader services.
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SONIC AUTOMOTVE (SAH): Free Stock Analysis Report
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AUTONATION INC (AN): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other auto retailers like Asbury Auto Group ( ABG ), AutoNation ( AN ), Lithia Motors ( LAD ), and Sonic Automotive ( SAH ) all sport either a Zacks Rank of 1 (Strong Buy) or 2 (Buy). Click to get this free report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Both revenues and earnings easily surpassed the Zacks Consensus Estimates due to strength in both new and used vehicle sales, as well as expanding profit margins. | Other auto retailers like Asbury Auto Group ( ABG ), AutoNation ( AN ), Lithia Motors ( LAD ), and Sonic Automotive ( SAH ) all sport either a Zacks Rank of 1 (Strong Buy) or 2 (Buy). Click to get this free report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Fourth Quarter Results Group 1 delivered better-than-expected fourth quarter results on February 5. | Click to get this free report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Other auto retailers like Asbury Auto Group ( ABG ), AutoNation ( AN ), Lithia Motors ( LAD ), and Sonic Automotive ( SAH ) all sport either a Zacks Rank of 1 (Strong Buy) or 2 (Buy). Both revenues and earnings easily surpassed the Zacks Consensus Estimates due to strength in both new and used vehicle sales, as well as expanding profit margins. | Other auto retailers like Asbury Auto Group ( ABG ), AutoNation ( AN ), Lithia Motors ( LAD ), and Sonic Automotive ( SAH ) all sport either a Zacks Rank of 1 (Strong Buy) or 2 (Buy). Click to get this free report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Group 1 is a Zacks Rank #1 (Strong Buy) stock. |
28910.0 | 2015-02-23 00:00:00 UTC | 3 Domestic Stocks Sheltered from Overseas Storm - Analyst Blog | ABG | https://www.nasdaq.com/articles/3-domestic-stocks-sheltered-from-overseas-storm-analyst-blog-2015-02-23 | nan | nan | Markets - both domestic and international - may look deceptive now. There are jitters across the otherwise stronger-looking U.S. economy, sparking concerns that international events are perhaps affecting the domestic investment climate. The global economic environment is dealing with issues like a slowdown in China, tensions in Ukraine and a struggling Eurozone, with Greece in focus.
The U.S. economy, which was looking firm on its recovery path, witnessed an unexpected slowdown in the fourth quarter of 2014, when GDP expanded at a rate of 2.6%, lacking the vigor of 5% and 4.6% growth portrayed in the third and second quarters, respectively. Analysts had expected growth of at least 3% in the quarter.
What's Impacting the Economy?
Market pundits believe that global turbulence, weakening foreign currencies, subdued business investment, decline in government spending on account of lower defense outlays and falling oil prices that dented the energy sector came in the way of economic expansion. A strong dollar led to attractive imports, which surged 8.9%, but dampened exports that grew 2.8%. This resulted in a wider trade gap that weighed on economic growth.
Further, some sheen was stolen by the second straight month of a slump in retail sales. The Commerce Department revealed that retail sales slid 0.8% in January against an expected drop of 0.5%. The dismal results followed a 0.9% decrease in December and a 0.4% jump in November.
The major contributor to this decline was the sizeable 9.3% fall in sales at gas stations due to plummeting gasoline prices. A panel of experts believes that weak income gains and the cloud of obscurity that is gradually engulfing the global economy may have also stopped consumers from spending freely.
The dismal economic numbers has its reflection in consumer confidence, a key determinant of the economy's health. A preliminary reading by the University of Michigan and Thomson Reuters highlighted that consumer sentiment index dropped to 93.6 in February from an 11-year high of 98.1 recorded in January. Experts blamed inclement weather condition for the dip in consumer confidence.
Why Optimism Still Prevails
Shrugging off these disappointing figures, a panel of economists still believes that the underlying fundamentals are strong enough to drive the economy and withstand the overseas turmoil. They expect the economy to grow at a pace of over 3% in 2015. Gradual recovery in the housing market, a strengthening manufacturing sector, an improving labor market and falling gasoline prices are favoring the economy and boosting consumers' disposable income.
Consumer spending - accounting for over two-thirds of U.S. economic activity - increased 4.3% in the fourth quarter of 2014, the fastest clip in nine years, and advanced from 3.2% in the third quarter. Moreover, new job prospects will encourage further spending.
The U.S. economy created 257,000 new jobs in January, beating the consensus estimate of 234,000, while the unemployment rate is lingering around 5.7%. A recent data shows that the number of people claiming unemployment benefits dropped 21,000 for the week ended Feb 14, to a seasonally adjusted 283,000 versus 293,000 expected.
Will the Fed Hike Interest Rate?
Speculations on this are rife. While some believe that the Federal Reserve is not in any rush to increase the near-zero interest rate for fear of hitting the breaks on the pace of economic recovery, several officials fear that delaying a rate hike will result in high inflation. Industry analysts predict that the encouraging economic data will find its reflection in interest rates sometime in mid-2015 but keep their fingers crossed on the market reaction to the move.
It is quite apparent that the market sentiment is influenced by a number of events. Well, now there are two choices in front of you: either be a mute spectator and wait for a convincing economic climate, or be a frontrunner and a winner using the Zacks formula of a profitable mix by identifying stocks that have the potential to outperform even when market conditions are not congenial.
Profitable Mix: Top Zacks Rank + Positive Earnings ESP + Long-term EPS Growth Rate of Above 10%
A favorable rank indicates positive estimate revisions by analysts optimistic on the future performance of companies. Moreover, Earnings ESP is our proprietary methodology for identifying stocks that have the best chance to surprise with their next earnings announcement. It shows the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate.
For investors seeking to apply this strategy to their portfolio, we have highlighted three stocks that possess a profitable mix. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as high as 70%. It might be a good idea to add market outperformers in the present investment landscape.
3 Prominent Picks
Southwest Airlines Co. ( LUV ) is a Zacks Rank #1 (Strong Buy) stock with an Earnings ESP of +3.28%. The current Zacks Consensus Estimate for the first quarter of 2015 is pegged at 61 cents a share, reflecting an increase of over threefold year over year. This Dallas, TX-based operator of passenger airlines in the U.S. and near-international markets registered an average positive earnings surprise of 10.1% over the trailing four quarters. The company is slated to report on Apr 23, and has a long-term earnings growth rate of 19.1%.
Asbury Automotive Group, Inc. ( ABG ) is also a Zacks Rank #1 stock with an Earnings ESP of +1.70%. The current Zacks Consensus Estimate for first-quarter 2015 is $1.18 per share, which portrays an increase of 14.1% year over year. This Duluth, GA-based automotive retailer in the U.S., registered an average positive earnings surprise of 8.1% over the trailing four quarters, and has a long-term earnings growth rate of 16%. The company's earnings are expected for release on Apr 22.
ULTA Salon, Cosmetics & Fragrance, Inc. ( ULTA ) is a Zacks Rank #2 (Buy) stock having an Earnings ESP of +0.79%. The current Zacks Consensus Estimate for the fourth quarter of fiscal 2014 is $1.26 per share, which indicates an increase of 15.6% year over year. This Bolingbrook, IL-based specialty retailer of beauty products in cosmetics, fragrance, haircare and skincare registered an average positive earnings surprise of 7.6% over the trailing four quarters, and has a long-term earnings growth rate of 19%. The company's earnings are expected to be released on Mar 12.
Bottom Line
We believe that the above stocks boast strong fundamentals and growth prospects that can satisfy investors' appetite for market winners. Your portfolio's chance of giving you higher returns increases if you have a favorably ranked stock powered by the optimism of an earnings beat.
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SOUTHWEST AIR (LUV): Free Stock Analysis Report
ULTA SALON COSM (ULTA): Free Stock Analysis Report
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group, Inc. ( ABG ) is also a Zacks Rank #1 stock with an Earnings ESP of +1.70%. Click to get this free report SOUTHWEST AIR (LUV): Free Stock Analysis Report ULTA SALON COSM (ULTA): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Market pundits believe that global turbulence, weakening foreign currencies, subdued business investment, decline in government spending on account of lower defense outlays and falling oil prices that dented the energy sector came in the way of economic expansion. | Click to get this free report SOUTHWEST AIR (LUV): Free Stock Analysis Report ULTA SALON COSM (ULTA): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive Group, Inc. ( ABG ) is also a Zacks Rank #1 stock with an Earnings ESP of +1.70%. Profitable Mix: Top Zacks Rank + Positive Earnings ESP + Long-term EPS Growth Rate of Above 10% A favorable rank indicates positive estimate revisions by analysts optimistic on the future performance of companies. | Asbury Automotive Group, Inc. ( ABG ) is also a Zacks Rank #1 stock with an Earnings ESP of +1.70%. Click to get this free report SOUTHWEST AIR (LUV): Free Stock Analysis Report ULTA SALON COSM (ULTA): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Profitable Mix: Top Zacks Rank + Positive Earnings ESP + Long-term EPS Growth Rate of Above 10% A favorable rank indicates positive estimate revisions by analysts optimistic on the future performance of companies. | Asbury Automotive Group, Inc. ( ABG ) is also a Zacks Rank #1 stock with an Earnings ESP of +1.70%. Click to get this free report SOUTHWEST AIR (LUV): Free Stock Analysis Report ULTA SALON COSM (ULTA): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Analysts had expected growth of at least 3% in the quarter. |
28911.0 | 2015-02-20 00:00:00 UTC | Zacks Rank #1 Additions for Friday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-rank-1-additions-for-friday-tale-of-the-tape-2015-02-20 | nan | nan | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today:
Accuride Corporation ( ACW )
AMN Healthcare Services, Inc. ( AHS )
ANI Pharmaceuticals Inc ( ANIP )
Arch Capital Group Ltd. ( ACGL )
Asbury Automotive Group, Inc. ( ABG )
View the entire Zacks Rank #1 List .
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Accuride Corporation ( ACW ) AMN Healthcare Services, Inc. ( AHS ) ANI Pharmaceuticals Inc ( ANIP ) Arch Capital Group Ltd. ( ACGL ) Asbury Automotive Group, Inc. ( ABG ) View the entire Zacks Rank #1 List . Click to get this free report ACCURIDE CORP (ACW): Free Stock Analysis Report AMN HLTHCR SVCS (AHS): Free Stock Analysis Report ANI PHARMACEUT (ANIP): Free Stock Analysis Report ARCH CAP GP LTD (ACGL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Accuride Corporation ( ACW ) AMN Healthcare Services, Inc. ( AHS ) ANI Pharmaceuticals Inc ( ANIP ) Arch Capital Group Ltd. ( ACGL ) Asbury Automotive Group, Inc. ( ABG ) View the entire Zacks Rank #1 List . Click to get this free report ACCURIDE CORP (ACW): Free Stock Analysis Report AMN HLTHCR SVCS (AHS): Free Stock Analysis Report ANI PHARMACEUT (ANIP): Free Stock Analysis Report ARCH CAP GP LTD (ACGL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Accuride Corporation ( ACW ) AMN Healthcare Services, Inc. ( AHS ) ANI Pharmaceuticals Inc ( ANIP ) Arch Capital Group Ltd. ( ACGL ) Asbury Automotive Group, Inc. ( ABG ) View the entire Zacks Rank #1 List . Click to get this free report ACCURIDE CORP (ACW): Free Stock Analysis Report AMN HLTHCR SVCS (AHS): Free Stock Analysis Report ANI PHARMACEUT (ANIP): Free Stock Analysis Report ARCH CAP GP LTD (ACGL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Accuride Corporation ( ACW ) AMN Healthcare Services, Inc. ( AHS ) ANI Pharmaceuticals Inc ( ANIP ) Arch Capital Group Ltd. ( ACGL ) Asbury Automotive Group, Inc. ( ABG ) View the entire Zacks Rank #1 List . Click to get this free report ACCURIDE CORP (ACW): Free Stock Analysis Report AMN HLTHCR SVCS (AHS): Free Stock Analysis Report ANI PHARMACEUT (ANIP): Free Stock Analysis Report ARCH CAP GP LTD (ACGL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Today, you can download 7 Best Stocks for the Next 30 Days. |
28912.0 | 2015-02-17 00:00:00 UTC | Zacks Rank #1 Additions for Tuesday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-rank-1-additions-for-tuesday-tale-of-the-tape-2015-02-17 | nan | nan | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today:
ALLETE Inc ( ALE )
Asbury Automotive Group, Inc. ( ABG )
Ashford Hospitality Trust, Inc. ( AHT )
Bioline RX Ltd ( BLRX )
Briggs & Stratton Corporation ( BGG )
View the entire Zacks Rank #1 List .
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: ALLETE Inc ( ALE ) Asbury Automotive Group, Inc. ( ABG ) Ashford Hospitality Trust, Inc. ( AHT ) Bioline RX Ltd ( BLRX ) Briggs & Stratton Corporation ( BGG ) View the entire Zacks Rank #1 List . Click to get this free report ALLETE INC (ALE): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASHFORD HOSPTLY (AHT): Free Stock Analysis Report BIOLINE RX LTD (BLRX): Get Free Report BRIGGS & STRATT (BGG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: ALLETE Inc ( ALE ) Asbury Automotive Group, Inc. ( ABG ) Ashford Hospitality Trust, Inc. ( AHT ) Bioline RX Ltd ( BLRX ) Briggs & Stratton Corporation ( BGG ) View the entire Zacks Rank #1 List . Click to get this free report ALLETE INC (ALE): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASHFORD HOSPTLY (AHT): Free Stock Analysis Report BIOLINE RX LTD (BLRX): Get Free Report BRIGGS & STRATT (BGG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: ALLETE Inc ( ALE ) Asbury Automotive Group, Inc. ( ABG ) Ashford Hospitality Trust, Inc. ( AHT ) Bioline RX Ltd ( BLRX ) Briggs & Stratton Corporation ( BGG ) View the entire Zacks Rank #1 List . Click to get this free report ALLETE INC (ALE): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASHFORD HOSPTLY (AHT): Free Stock Analysis Report BIOLINE RX LTD (BLRX): Get Free Report BRIGGS & STRATT (BGG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: ALLETE Inc ( ALE ) Asbury Automotive Group, Inc. ( ABG ) Ashford Hospitality Trust, Inc. ( AHT ) Bioline RX Ltd ( BLRX ) Briggs & Stratton Corporation ( BGG ) View the entire Zacks Rank #1 List . Click to get this free report ALLETE INC (ALE): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASHFORD HOSPTLY (AHT): Free Stock Analysis Report BIOLINE RX LTD (BLRX): Get Free Report BRIGGS & STRATT (BGG): Free Stock Analysis Report To read this article on Zacks.com click here. Today, you can download 7 Best Stocks for the Next 30 Days. |
28913.0 | 2015-02-13 00:00:00 UTC | Can Asbury Automotive (ABG) Stock Continue to Grow Earnings? - Tale of the Tape | ABG | https://www.nasdaq.com/articles/can-asbury-automotive-abg-stock-continue-to-grow-earnings-tale-of-the-tape-2015-02-13 | nan | nan | And if this wasn't enough, the stock has actually seen estimates Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors' attention, and produce big gains as well. However, these can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.
One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). This firm, which is in the Retail/Wholesale Auto/Truck industry, saw EPS growth of 23.8 last year, and is looking great for this year too.
In fact, the current growth estimate for this year calls for earnings-per-share growth of 16.5%. Furthermore, the long-term growth rate is currently an impressive 16%, suggesting pretty good prospects for the long haul.
And if this wasn't enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 2.9%. Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company.
So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider ABG. Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. |
28914.0 | 2015-02-12 00:00:00 UTC | Zacks Rank #1 Additions for Thursday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-rank-1-additions-for-thursday-tale-of-the-tape-2015-02-12 | nan | nan | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today:
ALLETE Inc ( ALE )
Amkor Technology, Inc. ( AMKR )
Asbury Automotive Group, Inc. ( ABG )
AU Optronics Corp ( AUO )
Axcelis Technologies Inc ( ACLS )
View the entire Zacks Rank #1 List .
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AMKOR TECH INC (AMKR): Get Free Report
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AU OPTRONCS-ADR (AUO): Free Stock Analysis Report
AXCELIS TECH (ACLS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: ALLETE Inc ( ALE ) Amkor Technology, Inc. ( AMKR ) Asbury Automotive Group, Inc. ( ABG ) AU Optronics Corp ( AUO ) Axcelis Technologies Inc ( ACLS ) View the entire Zacks Rank #1 List . Click to get this free report ALLETE INC (ALE): Free Stock Analysis Report AMKOR TECH INC (AMKR): Get Free Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AU OPTRONCS-ADR (AUO): Free Stock Analysis Report AXCELIS TECH (ACLS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: ALLETE Inc ( ALE ) Amkor Technology, Inc. ( AMKR ) Asbury Automotive Group, Inc. ( ABG ) AU Optronics Corp ( AUO ) Axcelis Technologies Inc ( ACLS ) View the entire Zacks Rank #1 List . Click to get this free report ALLETE INC (ALE): Free Stock Analysis Report AMKOR TECH INC (AMKR): Get Free Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AU OPTRONCS-ADR (AUO): Free Stock Analysis Report AXCELIS TECH (ACLS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: ALLETE Inc ( ALE ) Amkor Technology, Inc. ( AMKR ) Asbury Automotive Group, Inc. ( ABG ) AU Optronics Corp ( AUO ) Axcelis Technologies Inc ( ACLS ) View the entire Zacks Rank #1 List . Click to get this free report ALLETE INC (ALE): Free Stock Analysis Report AMKOR TECH INC (AMKR): Get Free Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AU OPTRONCS-ADR (AUO): Free Stock Analysis Report AXCELIS TECH (ACLS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: ALLETE Inc ( ALE ) Amkor Technology, Inc. ( AMKR ) Asbury Automotive Group, Inc. ( ABG ) AU Optronics Corp ( AUO ) Axcelis Technologies Inc ( ACLS ) View the entire Zacks Rank #1 List . Click to get this free report ALLETE INC (ALE): Free Stock Analysis Report AMKOR TECH INC (AMKR): Get Free Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AU OPTRONCS-ADR (AUO): Free Stock Analysis Report AXCELIS TECH (ACLS): Free Stock Analysis Report To read this article on Zacks.com click here. Today, you can download 7 Best Stocks for the Next 30 Days. |
28915.0 | 2015-02-11 00:00:00 UTC | Is Asbury Automotive Group (ABG) a Great Growth Stock? - Tale of the Tape | ABG | https://www.nasdaq.com/articles/is-asbury-automotive-group-abg-a-great-growth-stock-tale-of-the-tape-2015-02-11 | nan | nan | Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors' attention, and produce big gains as well. However, these can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.
One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). This firm, which is in the Retail/Wholesale-Auto/Truck industry, saw EPS growth of 23.8% last year, and is looking great for this year too.
In fact, the current growth estimate for this year calls for earnings-per-share growth of 15.3%. Furthermore, the long-term growth rate is currently an impressive 16%, suggesting pretty good prospects for the long haul.
And if this wasn't enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 1.9%. Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company.
So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider ABG. Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well.
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ASBURY AUTO GRP (ABG): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. |
28916.0 | 2015-02-09 00:00:00 UTC | 3 Stocks to Gain as Retail Boosts January Job Data - Analyst Blog | ABG | https://www.nasdaq.com/articles/3-stocks-to-gain-as-retail-boosts-january-job-data-analyst-blog-2015-02-09 | nan | nan | The U.S. economy has created 257,000 new jobs in January, beating the consensus estimate of 234,000. This was the 11 th consecutive month in which the economy generated more than 200,000 jobs, its longest such stretch in more than two decades. Notably, the retail trade sector emerged as the biggest recruiter in January.
Wage Growth, Participation Rate Up
Most significantly, the average hourly earnings increased 0.5%, or 12 cents, to $24.75 in January, stronger than the consensus estimate of 0.3% gain. For those studying the employment situation, wage growth has been a major cause for concern this year. Year-on-year growth in average hourly wages came in at 2.2% in January.
Meanwhile, the job additions for November and December were revised upward from 353,000 and 252,000 to 423,000 and 329,000, respectively. November's tally was the highest since May 2010.
Moreover, labor force participation rate increased 0.2% in January to 62.9 after declining to its lowest level since 1978 in December. Also, civilian labor force increased by 703,000 over last month. Increase in civilian labor force was one of the main reasons behind the deteriorated unemployment rate. The unemployment rate increased marginally to 5.7% in January from 5.6% in December.
January's Consumer Confidence Survey also signaled that consumers remained bullish on labor market conditions. The report showed that 20.5% of the people who participated in the survey believed jobs are "plentiful" in the economy. This was an improvement over the 17.2% recorded in December.
Retail Employment
Retail sector generated 46,000 new jobs in January, highest among other major sectors. Sporting goods, hobby, book and music stores, motor vehicle and parts dealers, and non-store retailers were the major contributors behind employment generation in this sector.
Increase in employment in the retail sector signaled rising demand for such products. The rise in consumer confidence in January also supported this fact. According to recent Conference Board data, the Consumer Confidence Index increased to 102.9 in January from 93.1 in December. Moreover, decline in oil prices, improving labor market and stable economic scenario helped retail sector to attract a large portion of consumers' spending.
Meanwhile, the World Bank has said that the slump in oil prices has helped the U.S. economy because it has increased purchasing power of consumers. The World Bank sees the U.S. expanding at 3.2%, up from prior estimate of 3%. Also, the IMF upgraded its 2015 growth rate estimate for the U.S. to 3.6% from the previous forecast of 3.1%.
Our Choices
Banking on favorable Zacks Rank and strong fundamentals, here are 3 retail stocks that may benefit from the improved sector dynamics:
Asbury Automotive Group, Inc. ( ABG ) is one of the largest automotive retailers in the United States. They sell, finance and service a diverse range of foreign and domestic automobile brands. On Feb 4, the Zacks Rank #1 (Strong Buy) company reported fourth quarter earnings per share of $1.07, beating the Zacks Consensus Estimate of $1.01.
The company has a strong next year EPS growth estimate of 16.9%. Asbury Automotive also has a solid forward PE ratio of 16.04. The Zacks Consensus Estimate for the current year EPS has been revised 2.6% upward over the last two months.
Express Inc. ( EXPR ) is a specialty retailer of women's and men's apparel in the United States. The company operates retail outlets in high-traffic shopping malls, lifestyle centers and street locations across the United States. The Zacks Rank #2 (Buy) company also sells its products through its e-commerce website, express.com.
Express has strong next year EPS growth estimate of 26.7%. The company also has an impressive forward PE ratio of 14.36. The Zacks Consensus Estimate for the current year EPS has been revised around 4.1% upward over the last two months.
Brinker International, Inc. ( EAT ) owns, operates, franchises, or is involved in the ownership of restaurants under the names including Chili's Grill & Bar, Romano's Macaroni Grill and Maggiano's Little Italy. On Jan 29, the Zacks Rank #2 (Buy) company posted fiscal second quarter adjusted earnings of 71 cents per share, ahead of the Zacks Consensus Estimate of 68 cents.
The company has impressive next year EPS growth estimate of 15.3%. The company also has a strong forward PE ratio of 19.25. The Zacks Consensus Estimate for the current year EPS has been revised almost 1% upward over the last two months.
Bottom Line
The encouraging jobs report reconfirms that the U.S. economy is making an impressive recovery and is likely to maintain this pace in the near future. Retail employment was one of the major catalysts behind January's strong job report, indicating increase in demand. In this favorable scenario, these three retail stocks are likely to be profitable investment choices.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Our Choices Banking on favorable Zacks Rank and strong fundamentals, here are 3 retail stocks that may benefit from the improved sector dynamics: Asbury Automotive Group, Inc. ( ABG ) is one of the largest automotive retailers in the United States. Click to get this free report BRINKER INTL (EAT): Free Stock Analysis Report EXPRESS INC (EXPR): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Wage Growth, Participation Rate Up Most significantly, the average hourly earnings increased 0.5%, or 12 cents, to $24.75 in January, stronger than the consensus estimate of 0.3% gain. | Click to get this free report BRINKER INTL (EAT): Free Stock Analysis Report EXPRESS INC (EXPR): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Our Choices Banking on favorable Zacks Rank and strong fundamentals, here are 3 retail stocks that may benefit from the improved sector dynamics: Asbury Automotive Group, Inc. ( ABG ) is one of the largest automotive retailers in the United States. Retail Employment Retail sector generated 46,000 new jobs in January, highest among other major sectors. | Our Choices Banking on favorable Zacks Rank and strong fundamentals, here are 3 retail stocks that may benefit from the improved sector dynamics: Asbury Automotive Group, Inc. ( ABG ) is one of the largest automotive retailers in the United States. Click to get this free report BRINKER INTL (EAT): Free Stock Analysis Report EXPRESS INC (EXPR): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Retail Employment Retail sector generated 46,000 new jobs in January, highest among other major sectors. | Our Choices Banking on favorable Zacks Rank and strong fundamentals, here are 3 retail stocks that may benefit from the improved sector dynamics: Asbury Automotive Group, Inc. ( ABG ) is one of the largest automotive retailers in the United States. Click to get this free report BRINKER INTL (EAT): Free Stock Analysis Report EXPRESS INC (EXPR): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Retail Employment Retail sector generated 46,000 new jobs in January, highest among other major sectors. |
28917.0 | 2015-02-06 00:00:00 UTC | Group 1 Automotive (GPI) Earnings Beat Estimates, Rise Y/Y - Analyst Blog | ABG | https://www.nasdaq.com/articles/group-1-automotive-gpi-earnings-beat-estimates-rise-y-y-analyst-blog-2015-02-06 | nan | nan | Group 1 Automotive ( GPI ) posted a 54.6% year-on-year increase in adjusted earnings per share to $1.67 in the fourth quarter of 2014 that surpassed the Zacks Consensus Estimate by 36 cents. Net income grew 40.7% to $40.7 million from $28.9 million in the year-ago quarter.
Group 1 Automotive Inc. - Earnings Surprise | FindTheBest
Revenues increased 11.4% year over year to $2.54 billion, beating the Zacks Consensus Estimate of $2.48 billion. The year-over-year improvement was driven by strong performances across all of the company's businesses. All the geographic markets delivered significant improvement, with strong growth witnessed in the U.S. and U.K. along with cost reductions in Brazil. This boosted results in all three countries.
Revenues from new vehicle sales escalated 9.9% to $1.5 billion on an 8.4% increase in unit sales to 42,197 vehicles. Revenues from retailed used vehicles improved 15.6% to $581.8 million on a 15.1% increase in unit sales to 27,499 vehicles. Revenues from wholesale used vehicles went up 6.9% to $94.7 million. Used vehicles' wholesale volume increased 7.4% to 13,838 units.
Revenues from the Parts and Service business increased 9.5% to $281.4 million. The company's Finance and Insurance business witnessed a 21.3% rise in revenues to $95.7 million.
Gross profit increased 13.9% to $366 million from $321.3 million in the year-ago quarter. However, operating income decreased 7.7% to $56.4 million from $61.1 million in the fourth quarter of 2013.
2014 Performance
Earnings for full-year 2014 increased 18.3% to $5.87 per share from $4.96 in 2013 and also surpassed the Zacks Consensus Estimate of $5.56. The enhanced profitability was based on improvement in capital structure and reduction in costs.
Revenues for 2014 increased 11.4% to $9.94 billion, marginally surpassing the Zacks Consensus Estimate of $9.89 billion.
Segment Details
Revenues in the U.S. business increased 13.1% to $2.1 billion on the back of better performance in all operations and increase in sales volume. The segment recorded a 10.3% increase in new vehicle sales to 34,020 units and a 16.6% increase in total used vehicles volume to 34,402 units.
Revenues in the U.K. business augmented 19.6% to $236 million from $197.4 million in the year-ago quarter due to significant growth across all businesses. Retail new vehicle sales increased 19.7% to 3,545 units and total used vehicle sales escalated 13.7% to 4,901 units.
Revenues from the Brazil business decreased 10.4% to $198.5 million in the quarter. New vehicle retail sales decreased 9.7% to 4,632 units, while total used vehicle sales dropped 10.5% to 2,034 units.
Financial Details
Group 1 Automotive's cash and cash equivalents surged to $40.9 million as of Dec 31, 2014, from $20.2 million as of Dec 31, 2013. Total debt amounted to $365.1 million as of Dec 31, 2014, compared with $287.2 million as of Dec 31, 2013.
Capital Restructuring
In Sep 2014, Group 1 Automotive redeemed all of its 2.25% Convertible Senior Notes, due in 2036. Further, the company purchased the remaining $22.55 million of its outstanding 3.00% Convertible Senior Notes, due in 2020. The company also issued $550 million 5.00% Senior Notes, due in 2022 to fund the redemption. The capital restructuring reduced the share count by around 2.7 million shares.
Share Repurchase
In 2014, Group 1 Automotive repurchased 537,000 shares at an average price of $68.51. As of Dec 31, 2014, it had around $99.4 million shares remaining under the share repurchase authorization.
Acquisitions & Dispositions
During the fourth quarter, Group 1 Automotive acquired 3 BMW/MINI dealerships in the U.K. The company was also granted a Sprinter franchise in Beaumont, TX. Group 1 Automotive expects that these franchises will generate around $230 million in annual revenues.
During the reported quarter, Group 1 Automotive disposed four franchises - one Fiat franchise in Houston, TX and three Renault franchises in Brazil. These dealerships generated $60 million in trailing twelve-month revenues.
In 2014, Group 1 Automotive acquired 19 franchises worldwide that are expected to generate around $910 million in annual revenues. The company also disposed off 12 franchises that generated trailing twelve-month revenues of $450 million.
Currently, Group 1 Automotive carries a Zacks Rank #3 (Hold). Other well-ranked automobile stocks include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). While Asbury Automotive sports a Zacks Rank #1 (Strong Buy), both AutoNation and Lithia Motors carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other well-ranked automobile stocks include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). Click to get this free report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Group 1 Automotive ( GPI ) posted a 54.6% year-on-year increase in adjusted earnings per share to $1.67 in the fourth quarter of 2014 that surpassed the Zacks Consensus Estimate by 36 cents. | Click to get this free report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Other well-ranked automobile stocks include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). Group 1 Automotive Inc. - Earnings Surprise | FindTheBest Revenues increased 11.4% year over year to $2.54 billion, beating the Zacks Consensus Estimate of $2.48 billion. | Click to get this free report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Other well-ranked automobile stocks include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). Revenues from retailed used vehicles improved 15.6% to $581.8 million on a 15.1% increase in unit sales to 27,499 vehicles. | Other well-ranked automobile stocks include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). Click to get this free report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Group 1 Automotive ( GPI ) posted a 54.6% year-on-year increase in adjusted earnings per share to $1.67 in the fourth quarter of 2014 that surpassed the Zacks Consensus Estimate by 36 cents. |
28918.0 | 2015-01-12 00:00:00 UTC | Zacks Rank #1 Additions for Monday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-rank-1-additions-for-monday-tale-of-the-tape-2015-01-12 | nan | nan | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today:
Arch Capital Group Ltd. ( ACGL )
Asbury Automotive Group, Inc. ( ABG )
Darden Restaurants, Inc. ( DRI )
Exfo Inc ( EXFO )
HopFed Bancorp, Inc ( HFBC )
View the entire Zacks Rank #1 List .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Arch Capital Group Ltd. ( ACGL ) Asbury Automotive Group, Inc. ( ABG ) Darden Restaurants, Inc. ( DRI ) Exfo Inc ( EXFO ) HopFed Bancorp, Inc ( HFBC ) View the entire Zacks Rank #1 List . Click to get this free report ARCH CAP GP LTD (ACGL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report DARDEN RESTRNT (DRI): Free Stock Analysis Report EXFO INC (EXFO): Free Stock Analysis Report HOPFED BANCORP (HFBC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Arch Capital Group Ltd. ( ACGL ) Asbury Automotive Group, Inc. ( ABG ) Darden Restaurants, Inc. ( DRI ) Exfo Inc ( EXFO ) HopFed Bancorp, Inc ( HFBC ) View the entire Zacks Rank #1 List . Click to get this free report ARCH CAP GP LTD (ACGL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report DARDEN RESTRNT (DRI): Free Stock Analysis Report EXFO INC (EXFO): Free Stock Analysis Report HOPFED BANCORP (HFBC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Arch Capital Group Ltd. ( ACGL ) Asbury Automotive Group, Inc. ( ABG ) Darden Restaurants, Inc. ( DRI ) Exfo Inc ( EXFO ) HopFed Bancorp, Inc ( HFBC ) View the entire Zacks Rank #1 List . Click to get this free report ARCH CAP GP LTD (ACGL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report DARDEN RESTRNT (DRI): Free Stock Analysis Report EXFO INC (EXFO): Free Stock Analysis Report HOPFED BANCORP (HFBC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Arch Capital Group Ltd. ( ACGL ) Asbury Automotive Group, Inc. ( ABG ) Darden Restaurants, Inc. ( DRI ) Exfo Inc ( EXFO ) HopFed Bancorp, Inc ( HFBC ) View the entire Zacks Rank #1 List . Click to get this free report ARCH CAP GP LTD (ACGL): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report DARDEN RESTRNT (DRI): Free Stock Analysis Report EXFO INC (EXFO): Free Stock Analysis Report HOPFED BANCORP (HFBC): Free Stock Analysis Report To read this article on Zacks.com click here. Today, you can download 7 Best Stocks for the Next 30 Days. |
28919.0 | 2014-10-30 00:00:00 UTC | Barrick (ABX) Beats Earnings Estimates, Snips Cost Outlook - Analyst Blog | ABG | https://www.nasdaq.com/articles/barrick-abx-beats-earnings-estimates-snips-cost-outlook-analyst-blog-2014-10-30 | nan | nan | Barrick Gold 's ( ABX ) adjusted earnings (excluding one-time items) for the third quarter of 2014 plummeted to 19 cents per share from 58 cents in the year-ago quarter but beat the Zacks Consensus Estimate of 16 cents per share. Lower pricing and volumes for both gold and copper led to the decline in earnings.
On a reported basis, profit for the third quarter was $125 million or 11 cents per share, down 27.3% from $172 million or 17 cents per share in the prior-year quarter. The results include $51 million in unrealized losses on non-hedge derivative instruments and $42 million in unrealized losses related to foreign currency translation.
Revenues fell around 13% year over year to $2,598 million in the reported quarter and missed the Zacks Consensus Estimate of $2,479 million. Average realized price of gold decreased 2.9% year over year to $1,285 per ounce. All-in costs declined 17.5% to $975 per ounce while all-in sustaining costs fell roughly 8.8% to $834 per ounce in the reported quarter.
Gold production fell to 1.6 million ounces from 1.8 million ounces a year ago. Copper production declined to 131 million pounds from 139 million pounds in the prior-year quarter.
Regional Results
North America: The Goldstrike mine in the North American region produced 239,000 ounces of gold in the quarter, up 2.6% year over year, at an average all-in sustaining cost (AISC) of $921 per ounce. Production increased due to higher processed grades. AISC were better than expected due to lower processing costs.
The Cortez mine produced 273,000 ounces, down 18% year over year. Production at Pueblo Viejo increased 48.7% to 168,000 ounces. Production at Lagunas Norte mine increased 15.4% to 157,000 ounces due to processing higher grade material and a faster leach cycle from stacking ore on the new area of the leach pad. Production at Veladero increased 15.6% year over year to 178,000 ounces, led by higher grades on positive grade reconciliations.
Australia Pacific: The region produced 292,000 ounces compared with 497,000 ounces in the year-ago quarter. AISC was $855 per ounce, down from $920 per ounce in the year-ago quarter.
African Barrick Gold plc. (ABG): Attributable production of ABG in the quarter was 122,000 ounces, flat compared with the year-ago quarter. AISC was $1,098 per ounce in the quarter, down 13.5% year over year.
Copper
Copper production in the third quarter was 131 million pounds, down 5.8% year over year. C1 cash cost was $1.82 per pound in the quarter, up from $1.69 per pound in the year ago quarter.
Financial Position
Cash and cash equivalents were $2,705 million as of Sep 30, 2014, down roughly 18.5% from $2,283 million as of Sep 30, 2013. Long-term debt was roughly $12.9 billion, down from $14.6 billion a year ago.
Update on Pascua-Lama Mine
During fourth-quarter 2013, Barrick temporarily suspended construction activities at the Pascua-Lama mine, barring the requisite activities for environmental protection and regulatory compliance. The ramp-down was completed on schedule and budget and the mine is now under care and maintenance. The decision to re-start will depend on certain factors like improved project economics, and legal and other regulatory requirements.
Barrick is in the final stages of preliminary engineering for the permanent water management system and is discussing the permitting requirements necessary to obtain approval for construction with Chilean regulators.
Barrick has entered into a Memorandum of Understanding (MoU) with a group of 15 Diaguita indigenous communities and associations in Chile's Huasco province. As part of the MoU, Barrick is providing technical and environmental information about the Pascua-Lama project available to the communities along with financial resources and materials required to support analysis of this information.
Joint Venture
Barrick, on Jul 13, 2014, agreed to form a joint venture with a Saudi Arabian Mining Co. (Ma'aden) in order to operate the Jabal Sayid copper mine in Saudi Arabia. Both Barrick and Ma'aden will own 50% stake in the joint venture. Ma'aden, which is controlled by the state of Saudi, has agreed to buy 50% interest in the project for $210 million (expected to close in the fourth quarter of 2014). First shipments of concentrate are expected in early 2016.
Guidance
For 2014, Barrick reduced its forecast of AISC, which is now expected to be between $880 and $920 per ounce versus earlier expectations of between $900 and $940 an ounce. The company reiterated its capital expenditure guidance range of $ $2.2-$2.5 billion.
Barrick, also changed its full-year guidance for gold production to 6.1-6.4 million ounces from previous expectation of 6-6.5 million ounces. Copper production guidance has been increased to 440-460 million pounds from earlier expectation of 410-440 million pounds. C1 cash cost guidance has been revised to $1.90-$2 per pound from the earlier outlook of $1.90-$2.10 per pound.
Five cornerstone mines are expected to contribute about 60% to the total production in 2014 at an average AISC of $730-$780 per ounce.
Currently, Barrick carries a Zacks Rank #3 (Hold).
Other mining companies with favorable Zacks Rank include Pretium Resources Inc. ( PVG ), Lake Shore Gold Corp. ( LSG ) and U.S. Silica Holdings, Inc. ( SLCA ). While Pretium Resources sports a Zacks Rank #1 (Strong Buy), both Lake Shore Gold and U.S. Silica hold a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (ABG): Attributable production of ABG in the quarter was 122,000 ounces, flat compared with the year-ago quarter. Barrick is in the final stages of preliminary engineering for the permanent water management system and is discussing the permitting requirements necessary to obtain approval for construction with Chilean regulators. Ma'aden, which is controlled by the state of Saudi, has agreed to buy 50% interest in the project for $210 million (expected to close in the fourth quarter of 2014). | (ABG): Attributable production of ABG in the quarter was 122,000 ounces, flat compared with the year-ago quarter. Regional Results North America: The Goldstrike mine in the North American region produced 239,000 ounces of gold in the quarter, up 2.6% year over year, at an average all-in sustaining cost (AISC) of $921 per ounce. Other mining companies with favorable Zacks Rank include Pretium Resources Inc. ( PVG ), Lake Shore Gold Corp. ( LSG ) and U.S. Silica Holdings, Inc. ( SLCA ). | (ABG): Attributable production of ABG in the quarter was 122,000 ounces, flat compared with the year-ago quarter. Regional Results North America: The Goldstrike mine in the North American region produced 239,000 ounces of gold in the quarter, up 2.6% year over year, at an average all-in sustaining cost (AISC) of $921 per ounce. Barrick, also changed its full-year guidance for gold production to 6.1-6.4 million ounces from previous expectation of 6-6.5 million ounces. | (ABG): Attributable production of ABG in the quarter was 122,000 ounces, flat compared with the year-ago quarter. Gold production fell to 1.6 million ounces from 1.8 million ounces a year ago. As part of the MoU, Barrick is providing technical and environmental information about the Pascua-Lama project available to the communities along with financial resources and materials required to support analysis of this information. |
28920.0 | 2014-10-14 00:00:00 UTC | Lithia Motors (LAD) Slumps: LAD Falls 20.8% in Session - Tale of the Tape | ABG | https://www.nasdaq.com/articles/lithia-motors-lad-slumps%3A-lad-falls-20.8-in-session-tale-of-the-tape-2014-10-14 | nan | nan | Lithia Motors Inc. ( LAD ) saw a big move last session, as the company's shares fell by over 20% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $73.43 to $84.10 in the past one-month time frame.
Lithia Motors, an automotive retailer, has seen a flat track record when it comes to current year estimate revisions over the past few weeks which has remained unchanged, and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
Lithia Motors has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the same sector include America's Car-Mart Inc. ( CRMT ), Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ). All these stocks hold a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the same sector include America's Car-Mart Inc. ( CRMT ), Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ). Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Lithia Motors Inc. ( LAD ) saw a big move last session, as the company's shares fell by over 20% on the day. | Some better-ranked stocks in the same sector include America's Car-Mart Inc. ( CRMT ), Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ). Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the same sector include America's Car-Mart Inc. ( CRMT ), Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ). Click to get this free report >> Want the latest recommendations from Zacks Investment Research? | Some better-ranked stocks in the same sector include America's Car-Mart Inc. ( CRMT ), Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ). Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Lithia Motors Inc. ( LAD ) saw a big move last session, as the company's shares fell by over 20% on the day. |
28921.0 | 2014-10-14 00:00:00 UTC | Penske Automotive's Sales and Dealership Network Expand - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-automotives-sales-and-dealership-network-expand-analyst-blog-2014-10-14 | nan | nan | On Oct 10, 2014, we issued an updated research report on Penske Automotive Group Inc. ( PAG ). This Zacks Rank #2 (Buy) stock reported a +2.30% earnings surprise in the last quarter.
Penske Automotive's second-quarter 2014 earnings improved 27.1% to 89 cents from 70 cents in the year-ago quarter. The results also surpassed the Zacks Consensus Estimate by 2 cents. Net income from continuing operations rose 27.5% to $80.3 million in the quarter from $63 million a year ago. The improvement was driven by favorable brand mix and geographical diversification of the revenue base.
Penske Automotive aims to boost earnings by expanding its dealership network. In Oct 2014, the company completed the acquisition of MTU Detroit Diesel Australia from Daimler AG ( DDAIF ) and MTU Friedrichshafen. The acquisition is expected to boost the company's annual revenues by $225-$250 million. In the second quarter, Penske Automotive opened a new Toyota Motor Corporation ( TM ) dealership in Surprise, AZ. The company also forayed into Spain with the establishment of a 50-50 joint venture that will exclusively operate BMW and MINI dealerships in Barcelona.
Penske Automotive has been benefiting from increasing new vehicle sales over the past few years. Notably, new vehicle unit sales in the first half of 2014 escalated 11% to 105,798 units. The company also expects the U.S. and U.K. automotive markets to perform well in the future. This will enhance the company's business prospects further.
The company also boasts a strong financial position and favorable automotive retail environment in the U.S. and U.K. markets. Banking on this strength, Penske Automotive repurchased 335,350 shares for $15.5 million, at an average price of $46.20 a share in the first half of 2014. The company also approved a 5.3% rise in cash dividend to 20 cents a share for the second quarter of 2014. The share repurchases and increased dividends reflect the company's commitment to enhance shareholders' return.
Investors interested in automobile stocks can also consider Asbury Automotive Group, Inc. ( ABG ), which carries the same Zacks Rank as Penske Automotive.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors interested in automobile stocks can also consider Asbury Automotive Group, Inc. ( ABG ), which carries the same Zacks Rank as Penske Automotive. Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report TOYOTA MOTOR CP (TM): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. In the second quarter, Penske Automotive opened a new Toyota Motor Corporation ( TM ) dealership in Surprise, AZ. | Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report TOYOTA MOTOR CP (TM): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Investors interested in automobile stocks can also consider Asbury Automotive Group, Inc. ( ABG ), which carries the same Zacks Rank as Penske Automotive. On Oct 10, 2014, we issued an updated research report on Penske Automotive Group Inc. ( PAG ). | Investors interested in automobile stocks can also consider Asbury Automotive Group, Inc. ( ABG ), which carries the same Zacks Rank as Penske Automotive. Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report TOYOTA MOTOR CP (TM): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Penske Automotive's second-quarter 2014 earnings improved 27.1% to 89 cents from 70 cents in the year-ago quarter. | Investors interested in automobile stocks can also consider Asbury Automotive Group, Inc. ( ABG ), which carries the same Zacks Rank as Penske Automotive. Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report TOYOTA MOTOR CP (TM): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. This Zacks Rank #2 (Buy) stock reported a +2.30% earnings surprise in the last quarter. |
28922.0 | 2014-10-10 00:00:00 UTC | Buy What Warren Buffett is Buying - Investment Ideas | ABG | https://www.nasdaq.com/articles/buy-what-warren-buffett-buying-investment-ideas-2014-10-10 | nan | nan | On Oct 2, Warren Buffett announced that Berkshire Hathaway had entered into a deal to acquire privately-held Van Tuyl Group, the 5th largest retail auto chain in the United States.
Van Tuyl has 78 dealerships and operates in the sunbelt states of Texas, Arizona, Florida and California.
Terms of the deal weren't disclosed.
Outside of a small investment in General Motors, this was Berkshire Hathaway's first big foray into automobiles.
But given the run up in the publicly-traded auto retailer stocks in the last 5 years, many investors were left wondering: did Buffett buy into this group too late?
Auto Retailers Have Buffett Value Fundamentals
Looking at the fundamentals of the publicly-traded auto retailers, it's not a surprise that Buffett bought one of these dealerships.
Despite a surge in their share prices, the auto dealerships are still among the cheapest stocks and they have growth too.
The domestic auto industry is humming along and there appears to be no slowdown in sight. Third quarter sales in the United States were the best in 8 years.
In September, U.S. auto sales jumped 9% to 1.24 million vehicles. That puts U.S. sales on pace for 16.4 million units sold this year versus just 15.4 million last year. It's the highest since the recession.
Most of the publicly-traded auto dealerships have both growth and solid valuations. They have PEGs, for instance, under 1.0.
The PEG ratio is calculated by taking the price-to-earnings (P/E) ratio and dividing it by the growth rate.
Normally, a stock with a PEG ratio under 1.0 is considered a "value".
So the auto retailers have both value AND growth, a powerful combination.
You Can Buy the Auto Retailers Too
Buffett bought a privately-owned auto retailer, but you don't need billions of dollars to get your share of the auto retail pie.
There are several publicly-traded retailers that have fantastic fundamentals, including P/Es below the average of the S&P 500, and solid Zacks Ranks.
Buffett's purchase isn't expected to close until the first quarter of 2015, but you can invest in these auto retailers right now.
3 Best Auto Retailers to Buy Right Now
1. Asbury Automotive
2. Penske Automotive
Lithia Motors
1. Asbury Automotive Group, Inc. ( ABG ) operates 81 dealerships locations handling the sale and servicing of 29 domestic and foreign vehicle brands. It also operates 24 collision repair centers.
The second quarter saw record revenue, which increased 12% to $1.5 billion. All parts of the business saw double digit revenue gains included new and used vehicle sales, financing and parts and services. The company said the industry gained momentum in the second quarter.
Solid Value Fundamentals
Forward P/E = 15.8
Price-to-sales = 0.4
PEG = 0.9
Expected 2014 earnings growth = 21.8%
Expected 2015 earnings growth = 11.3%
Zacks Rank #2 (Buy)
2. Penske Automotive Group, Inc. ( PAG ) is one of the largest auto retailers in the United States with 177 franchises in 17 states and Puerto Rico. It also differs from some of its competitors in that it operates 147 dealerships internationally, with the vast majority of those in the United Kingdom. It also operates in commercial vehicles in Australia and New Zealand.
Like Asbury, the second quarter was also a record quarter with the first six months of the year the best in the company's history. Total revenue jumped 21.4% to $4.4 billion. Retail sales rose 10.4%.
Cheapest Amongst the Group
Forward P/E = 13
Price-to-sales = 0.2
PEG = 1.0
Expected 2014 earnings growth = 18.1%
Expected 2015 earnings growth = 12.3%
Zacks Rank #2 (Buy)
3. Lithia Motors, Inc. ( LAD ) is also among the largest of the auto retailers with 101 dealerships in 12 states. It also has the most diverse footprint, with dealerships across the United States in both city and rural locations.
It sells 29 new and used brands of autos and also performs maintenance and handles financing.
The second quarter was the highest net income in the company's history. Revenue rose 21% to $1.2 billion from the year ago quarter. All of its business segments saw double digit sales growth but the quarter was boosted by a 10% increase in revenue from service, body and parts, which was a record quarterly increase.
One of the Fastest Growing Auto Retailers
Forward P/E = 16.2
Price-to-sales = 0.5
PEG = 0.7
Expected 2014 earnings growth = 27%
Expected 2015 earnings growth = 27%
Zacks Rank #3 (Hold)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group, Inc. ( ABG ) operates 81 dealerships locations handling the sale and servicing of 29 domestic and foreign vehicle brands. Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. On Oct 2, Warren Buffett announced that Berkshire Hathaway had entered into a deal to acquire privately-held Van Tuyl Group, the 5th largest retail auto chain in the United States. | Asbury Automotive Group, Inc. ( ABG ) operates 81 dealerships locations handling the sale and servicing of 29 domestic and foreign vehicle brands. Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Expected 2014 earnings growth = 21.8% Expected 2015 earnings growth = 11.3% Zacks Rank #2 (Buy) 2. | Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive Group, Inc. ( ABG ) operates 81 dealerships locations handling the sale and servicing of 29 domestic and foreign vehicle brands. Auto Retailers Have Buffett Value Fundamentals Looking at the fundamentals of the publicly-traded auto retailers, it's not a surprise that Buffett bought one of these dealerships. | Asbury Automotive Group, Inc. ( ABG ) operates 81 dealerships locations handling the sale and servicing of 29 domestic and foreign vehicle brands. Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Third quarter sales in the United States were the best in 8 years. |
28923.0 | 2014-09-12 00:00:00 UTC | 4 Years Invested: A Retrospective, Results, and Learnings | ABG | https://www.nasdaq.com/articles/4-years-invested-retrospective-results-and-learnings-2014-09-12 | nan | nan | Scottish novelist Walter Scott once mused:
To publicly invest sums of money -- and detail your theses for those to judge -- is akin to keeping a very public diary. And for the past four years, I've done just that in my Real Money Portfolio . It is with some regret, therefore, that today, I'm writing to announce that I'll be closing the portfolio.
It's not that I want to; instead, my responsibilities have become too much to manage it. I was recently named Co-Advisor (or co-lead) of The Motley Fool UK's flagship portfolio product, Champion Shares PRO , and have taken expanded responsibilities as Senior Analyst on Million Dollar Portfolio .
With all this, I figured the diary-esque qualities of my portfolio's creation and ongoing investment process offer an opportunity to reflect on my performance, lessons learned, and notable successes and failures. So, anchors away.
The long and short: Performance
On its face, you might argue that my portfolio is an abject failure: The headline reads 52% versus 83% for the S&P 500. And certainly, I'd prefer it were different, but I'd also argue that the headline is a tad deceiving.
Part of it is my own doing. I dragged my feet investing cash balances near the market's nadir in 2010 and early 2011. But part of it is also due to the idiosyncratic elements of performance measurement on an institutional basis. Where my portfolio's performance is compared to the S&P 500 from the date of inception, in November 2010, I received cash contributions to my portfolio on an ongoing and continuous basis, and invested money at intervals across this horizon -- making it an apples to oranges comparison. That's not an excuse as much as reality.
An alternative performance measurement method gives a bit of perspective -- measuring each pick's performance against the S&P from the date of each investment. As an example, I recommended investing in Asbury Automotive on 12/31/11. How did it perform relative to the S&P from that date?
Viewed in this context, the results are a bit different. The average pick returned a 55% total return versus 39% for the S&P 500. (Note: Returns are not audited, include dividends, and are as of 9/4/14. Data is from Capital IQ.) By that measure, I don't think I've done anyone a disservice. I've also been lucky to invest during a period when the market afforded a large number of outstanding businesses at stellar values.
Lessons learned, or reinforced
That being said, a few lessons also stick out. In no particular order, they follow.
1.Understand thyself
Many investors attempt to engineer an investment philosophy around the flavor of the day, or by adopting the mentality and mannerisms of those around them. That, I'd argue, is a recipe for failed investments.
Instead, investors should understand their personal proclivities, strengths, weaknesses, and psychological tics; examine the habits and practices of successful and empirical research; and develop an investment philosophy that marries all of the above. Humans, as a lot, are quite adept at making the same mistakes. Taking inventory of these, and attempting to develop intellectual models (and an investment strategy) that condition against them, minimizes the risk of these errors in the long run.
2.Of moats and statistics
In a general sense, capitalism works. A subset of companies can generate high returns on capital for a short time. But absent a moat, a unique set of capacities enabling reliable cash generation, most good things are not sustainable for extended periods -- because they attract competition, which pushes returns lower.
That's not to say business is a zero-sum game, but statistically speaking, it's not probable that high returns persist. Likewise, seemingly cheap investments more often represent gypsy values -- the sort that pilfer your accounts -- than legitimate values. There's no measuring how quickly a troubled business's prospects can erode.
For my real money port, solidly underpinned moats contributed to meaty returns in short-line railroad RailAmerica , which ended up acquired by Genesee & Wyoming to the tune of a 135% return ; contract research organization ICON , which returned 140% , 166% , and 226% across three purchases, as big pharma moved to consolidate CRO vendors to a select few possessing global reach; and auto dealer Asbury Automotive, which returned 289%, as it capitalized on a cyclical recovery and auto dealers' highly scalable models. I expect that more recent investments inPotashCorp and Oaktree Capital will do the same.
3. Management matters
While a savvy management team rarely conveys a moat in and of itself, there's no accounting for how quickly ill-incentivized, or otherwise stupid, managers can destroy value. Capital allocation matters a great deal. In that regard, I expect my investmentsinMarkel and Sirius XM to reliably compoundvalue -- they're backed by managers whose incentives align with shareholders, and who possess decades-long records of value creation.
An example in my portfolio comes in Cimarex Energy , a 141% returner in less than two years, which I, in part, attribute to its management's steady-as-she-goes, conservative mentality to capital allocation. Or consider WellPoint , a serially under-managed, but competitively advantaged, health insurer, which has flourished under new management and delivered a 99% return . Conversely, despite the fundamental quality of its business, I was somewhat lucky to escape my investment in Mac-Gray -- a family controlled laundromat-management franchise -- unscathed.
4. Avoid brands
One of my portfolio's most noteworthy failures -- of process and on returns -- was my investment in Weight Watchers , one that I compounded by doubling down. My purchases are off 45% and 37% , respectively. Though Weight Watchers isn't just a brand, to be fair, it's greater parts that than anything.
Changing fashions coupled with marketing missteps have contributed to its recent difficulties. Companies in which the cash-generating capacity is underpinned by a brand -- retail, restaurants, and fashion -- are continuously on notice. Brand alone is rarely a source of enduring competitive advantage unless it's married to some other unique capacity.
Companies engaged in transactional industries, whose returns rely on brand equity, must continuously scrounge for customer dollars in highly competitive, low-switching cost environments. Put differently: Be wary of anyone claiming El Pollo Loco is the next McDonald's .
5. Consolidation stories pay
When industries with fundamentally attractive economics undertake consolidation, particularly those operating in niche businesses with relatively high costs of entry, there's a recipe for prospectively outsized returns. Two examples of that: ICON intelligently acquiring smaller, niche competitors, thereby strengthening its offering on a holistic basis, and the containerboard industry's consolidation, led by Rock-Tenn and International Paper 's acquisition of Smurfit Stone and Temple Inland, contributing to my two Rock-Tenn investments returning 46% and 59% . And for what it's worth, I think there's room to run for both.
With that, I bid you adieu, at least in the context of my Real Money Portfolio. But don't worry... I'll be around.
The article 4 Years Invested: A Retrospective, Results, and Learnings originally appeared on Fool.com.
Michael Olsen, CFA owns shares of ICON plc (ADR), Markel, and Sirius XM Radio. The Motley Fool recommends Genesee & Wyoming, Markel, McDonald's, and WellPoint. The Motley Fool owns shares of Asbury Automotive Group, Cimarex Energy, ICON plc (ADR), Markel, Rock-Tenn Company, Sirius XM Radio, Weight Watchers International, and WellPoint. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Instead, investors should understand their personal proclivities, strengths, weaknesses, and psychological tics; examine the habits and practices of successful and empirical research; and develop an investment philosophy that marries all of the above. But absent a moat, a unique set of capacities enabling reliable cash generation, most good things are not sustainable for extended periods -- because they attract competition, which pushes returns lower. The Motley Fool owns shares of Asbury Automotive Group, Cimarex Energy, ICON plc (ADR), Markel, Rock-Tenn Company, Sirius XM Radio, Weight Watchers International, and WellPoint. | Michael Olsen, CFA owns shares of ICON plc (ADR), Markel, and Sirius XM Radio. The Motley Fool recommends Genesee & Wyoming, Markel, McDonald's, and WellPoint. The Motley Fool owns shares of Asbury Automotive Group, Cimarex Energy, ICON plc (ADR), Markel, Rock-Tenn Company, Sirius XM Radio, Weight Watchers International, and WellPoint. | Where my portfolio's performance is compared to the S&P 500 from the date of inception, in November 2010, I received cash contributions to my portfolio on an ongoing and continuous basis, and invested money at intervals across this horizon -- making it an apples to oranges comparison. For my real money port, solidly underpinned moats contributed to meaty returns in short-line railroad RailAmerica , which ended up acquired by Genesee & Wyoming to the tune of a 135% return ; contract research organization ICON , which returned 140% , 166% , and 226% across three purchases, as big pharma moved to consolidate CRO vendors to a select few possessing global reach; and auto dealer Asbury Automotive, which returned 289%, as it capitalized on a cyclical recovery and auto dealers' highly scalable models. Avoid brands One of my portfolio's most noteworthy failures -- of process and on returns -- was my investment in Weight Watchers , one that I compounded by doubling down. | I've also been lucky to invest during a period when the market afforded a large number of outstanding businesses at stellar values. For my real money port, solidly underpinned moats contributed to meaty returns in short-line railroad RailAmerica , which ended up acquired by Genesee & Wyoming to the tune of a 135% return ; contract research organization ICON , which returned 140% , 166% , and 226% across three purchases, as big pharma moved to consolidate CRO vendors to a select few possessing global reach; and auto dealer Asbury Automotive, which returned 289%, as it capitalized on a cyclical recovery and auto dealers' highly scalable models. The Motley Fool owns shares of Asbury Automotive Group, Cimarex Energy, ICON plc (ADR), Markel, Rock-Tenn Company, Sirius XM Radio, Weight Watchers International, and WellPoint. |
28924.0 | 2014-08-13 00:00:00 UTC | Penske Automotive Unveils Truck Rental Service in Australia - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-automotive-unveils-truck-rental-service-in-australia-analyst-blog-2014-08-13 | nan | nan | Penske Automotive Group Inc. ( PAG ) announced that it has launched its truck rental service in Australia. The company will provide the service under the brand name Penske Truck Rental in collaboration with its Brisbane, Australia-based wholly-owned subsidiary Penske Commercial Vehicles.
Penske Commercial Vehicles operates the Brisbane Truck Centre. It has exclusive distribution rights for MAN and Western Star Trucks in Australia and New Zealand. Under the new venture, the expertise of Penske Truck Leasing fleet operations will be combined with Penske Commercial Vehicles' market knowledge.
The rental service will initially offer a 20-truck fleet including high-specification MAN and Western Star prime movers. Additionally, the company plans to expand the rental service to other areas to cater to a larger customer base.
The trucks offered by Penske Truck Rental are MAN TGS 6x4 which is powered by 540 horsepower MAN turbo diesel and 12-speed Tipmatic transmission, and Western Star 4864 FS2 and Western Star 4864 FXC prime movers. The FS2 is equipped with a day cab, while the FXC has a sleeper cab. Both the trucks are powered with 560 horsepower DD15 turbo diesel and Eaton Corporation plc's ( ETN ) UltraShift Plus transmission. In addition, the trucks are equipped with toll transponders, GPS units and have full fuel tanks to ensure productivity.
One of the leading truck rental and leasing brands in North America, Penske boasts a fleet of more than 200,000 trucks. Currently, the stock carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
Some better-ranked stocks that are worth considering in the auto sector include Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Lithia Motors sports a Zacks Rank #1 (Strong Buy), while Asbury Automotive has a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other Stocks to Consider Some better-ranked stocks that are worth considering in the auto sector include Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report EATON CORP PLC (ETN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. The rental service will initially offer a 20-truck fleet including high-specification MAN and Western Star prime movers. | Other Stocks to Consider Some better-ranked stocks that are worth considering in the auto sector include Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report EATON CORP PLC (ETN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. The trucks offered by Penske Truck Rental are MAN TGS 6x4 which is powered by 540 horsepower MAN turbo diesel and 12-speed Tipmatic transmission, and Western Star 4864 FS2 and Western Star 4864 FXC prime movers. | Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report EATON CORP PLC (ETN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Other Stocks to Consider Some better-ranked stocks that are worth considering in the auto sector include Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). The company will provide the service under the brand name Penske Truck Rental in collaboration with its Brisbane, Australia-based wholly-owned subsidiary Penske Commercial Vehicles. | Other Stocks to Consider Some better-ranked stocks that are worth considering in the auto sector include Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report EATON CORP PLC (ETN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. The company will provide the service under the brand name Penske Truck Rental in collaboration with its Brisbane, Australia-based wholly-owned subsidiary Penske Commercial Vehicles. |
28925.0 | 2014-07-31 00:00:00 UTC | Barrick Gold (ABX) Posts Loss in Q2, Narrows Cost Guidance - Analyst Blog | ABG | https://www.nasdaq.com/articles/barrick-gold-abx-posts-loss-in-q2-narrows-cost-guidance-analyst-blog-2014-07-31 | nan | nan | Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) for the second quarter of 2014 plummeted to 14 cents per share from 66 cents in the year-ago quarter but were in line with the Zacks Consensus Estimate. Lower pricing and volumes for both gold and copper led to the decline in earnings. The results were also affected by an impairment charge of $514 million related to the Jabal Sayid copper project.
On a reported basis, net loss in the second quarter was $269 million or 23 cents per share, much narrower than the net loss of roughly $8.6 billion or $8.55 per share in the prior-year quarter. The results include $24 million gains on sale of assets, $31 million in unrealized foreign currency translation losses and $34 million in gains on non-hedge derivative instruments.
Revenues fell 24% year over year to $2,432 million in the reported quarter and missed the Zacks Consensus Estimate of $2,475 million. Average realized price of gold decreased 8.6% year over year to $1,289 per ounce. All-in costs declined 25.4% to $945 per ounce while all-in sustaining costs fell roughly 4.9% to $865 per ounce in the reported quarter.
Gold production fell to 1.5 million ounces from 1.8 million ounces a year ago. Copper production declined to 67 million pounds from 134 million pounds in the prior-year quarter.
Regional Results
North America: The Goldstrike mine in the North American region produced 214,000 ounces of gold in the quarter, up 14.4% year over year, at an average all-in sustaining cost (AISC) of $886 per ounce. The Cortez mine produced 217,000 ounces, down 48% year over year. Production at Pueblo Viejo increased 32% to 161,000 ounces. Production at Lagunas Norte mine declined 12.2% and at Veladero it increased 35% year over year.
Australia Pacific: The region produced 268,000 ounces compared with 465,000 ounces in the year-ago quarter. AISC was $856 per ounce, down from $1,016 per ounce in the year-ago quarter.
African Barrick Gold plc. (ABG): Attributable production of African Barrick Gold in the quarter was 114,000 ounces compared with 122,000 ounces in the year-ago quarter. AISC was $1,105 per ounce in the quarter, down 21.3% year over year.
Financial Position
Cash and cash equivalents were $2,549 million as of Jun 30, 2014, up roughly 5.2% from $2,422 million as of Jun 30, 2013. Total debt was roughly $13 billion, down around 10.1% from $14.4 billion a year ago.
Update on Pascua-Lama Mine
During fourth-quarter 2013, Barrick temporarily suspended construction activities at the Pascua-Lama mine, barring the requisite activities for environmental protection and regulatory compliance. The ramp-down was completed on schedule and budget and the mine is now under care and maintenance. The company expects to incur costs of roughly $300 million in 2014 due to the ramp-down as well as for the environmental and social obligations.
The decision to re-start will depend on certain factors like improved project economics, outlook for metal prices, and reduced uncertainty associated with legal and other regulatory requirements.
During the reported quarter, Barrick entered into a Memorandum of Understanding (MoU) with a group of 15 Diaguita indigenous communities and associations in Chile's Huasco province. As part of the MoU, Barrick will make technical and environmental information about the Pascua-Lama project available to the communities and provide financial resources and materials required to support analysis of this information.
Portfolio Optimization
Barrick continues to take initiatives in order to optimize its portfolio and lower costs. The company has divested non-core assets for proceeds in excess of $1.3 billion since 2012, which has mainly been utilized to reduce debt.
Joint Venture
Barrick, on Jul 13, 2014, agreed to form a joint venture with a Saudi Arabian Mining Co. (Ma'aden) in order to operate the Jabal Sayid copper mine in Saudi Arabia. Both Barrick and Ma'aden will own 50% stake in the joint venture. Ma'aden, which is controlled by the state of Saudi, has agreed to buy 50% interest in the project for $210 million (expected to close in the fourth quarter of 2014).
Guidance
For 2014, Barrick reduced its forecast of AISC, which is now expected to be between $900 and $940 per ounce versus earlier expectations of between $920 and $980 an ounce. The company also reduced its 2014 capital expenditure guidance range by $200 million to $2.2-$2.5 billion from $2.4-$2.7 billion.
Barrick, however, maintained its full-year guidance for gold production of 6-6.5 million ounces. Copper guidance also remained unchanged at 410-440 million pounds and C1 cash costs of $1.90-$2.10 per pound.
Five cornerstone mines are expected to contribute about 60% to the total production in 2014 at an average AISC of $750-$800 per ounce.
Currently, Barrick carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the gold mining industry include AngloGold Ashanti Ltd. ( AU ), Sibanye Gold Limited ( SBGL ) and NovaGold Resources Inc. ( NG ). While AngloGold and Sibanye Gold sport a Zacks Rank #1 (Strong Buy), NovaGold holds a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (ABG): Attributable production of African Barrick Gold in the quarter was 114,000 ounces compared with 122,000 ounces in the year-ago quarter. The decision to re-start will depend on certain factors like improved project economics, outlook for metal prices, and reduced uncertainty associated with legal and other regulatory requirements. During the reported quarter, Barrick entered into a Memorandum of Understanding (MoU) with a group of 15 Diaguita indigenous communities and associations in Chile's Huasco province. | (ABG): Attributable production of African Barrick Gold in the quarter was 114,000 ounces compared with 122,000 ounces in the year-ago quarter. Regional Results North America: The Goldstrike mine in the North American region produced 214,000 ounces of gold in the quarter, up 14.4% year over year, at an average all-in sustaining cost (AISC) of $886 per ounce. Joint Venture Barrick, on Jul 13, 2014, agreed to form a joint venture with a Saudi Arabian Mining Co. (Ma'aden) in order to operate the Jabal Sayid copper mine in Saudi Arabia. | (ABG): Attributable production of African Barrick Gold in the quarter was 114,000 ounces compared with 122,000 ounces in the year-ago quarter. Gold production fell to 1.5 million ounces from 1.8 million ounces a year ago. Regional Results North America: The Goldstrike mine in the North American region produced 214,000 ounces of gold in the quarter, up 14.4% year over year, at an average all-in sustaining cost (AISC) of $886 per ounce. | (ABG): Attributable production of African Barrick Gold in the quarter was 114,000 ounces compared with 122,000 ounces in the year-ago quarter. Gold production fell to 1.5 million ounces from 1.8 million ounces a year ago. Copper production declined to 67 million pounds from 134 million pounds in the prior-year quarter. |
28926.0 | 2014-07-31 00:00:00 UTC | Penske Automotive Tops Q2 Earnings & Revenues on Solid Sales - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-automotive-tops-q2-earnings-revenues-on-solid-sales-analyst-blog-2014-07-31 | nan | nan | Penske Automotive Group Inc. 's ( PAG ) second-quarter 2014 earnings improved 27.1% to 89 cents from 70 cents reported in the year-ago quarter. The results also surpassed the Zacks Consensus Estimate by 2 cents.
Penske Automotive Group, Inc - Earnings Surprise | FindTheBest
Net income from continuing operations rose 27.5% to $80.3 million in the quarter from $63 million a year ago. The improvement was driven by favorable brand mix and geographical diversification of the revenue base.
Revenues grew 21.4% year over year to $4.41 billion, surpassing the Zacks Consensus Estimate of $4.25 billion. Same-store retail revenues rose 12.7% to $3.9 billion. The year-over-year rise was driven by a 10.4% increase in total retail sales to 101,422 units, including a 5.3% increase in same-store retail sales to 96,658 units. Retail sales went up 8.4% in the U.S. and 15.3% internationally.
New Vehicle revenues escalated 18.2% to $2.24 billion on a 10.5% rise in sales to 55,510 units. Used Vehicle revenues rose 19.9% to $1.3 billion owing to a 10.4% increase in sales to 45,912 units. Meanwhile, revenues in the Service and Parts segment improved 13.2% to $435.7 million.
Revenues in the Fleet and Wholesale Vehicle segment increased 20.2% to $216.8 million, while revenues from the Finance and Insurance segment rose 18.6% to $112.3 million. Revenues from the Commercial Vehicle, Car Rental and other segment amounted to $130.5 million in the second quarter of 2014.
Gross profit improved 19.2% to $666.9 million from $559.5 million in the second quarter of 2013. Operating income augmented 21.5% to $136.2 million from $112.1 million a year ago.
Share Repurchase & Dividend
During the first half of 2014, Penske repurchased 335,350 shares for $15.5 million, on an average price of $46.20 per share. The remaining authorization available under the current repurchase program was $77.6 million as of Jun 30, 2014.
Earlier this month, the company approved a 5.3% rise in cash dividend to 20 cents per share for the second quarter of 2014. The dividend will be paid on Sep 2, 2014, to shareholders of record as of Aug 11. The share repurchases and increase in dividend reflects the company's commitment to enhance shareholders return.
Financial Position
Penske had cash and cash equivalents of $61.4 million as of Jun 30, 2014, an increase from $49.8 million as of Dec 31, 2013. Long-term debt stood at $1.08 billion as of Jun 30, 2014, in line with the figure reported on Dec 31, 2013.
Our Take
Penske is poised to benefit from increasing dealerships, rising sales of new and used vehicles and a strong financial position. However, we are concerned about intensifying competition, high inventory levels and exposure to foreign exchange rate volatility. Currently, the stock carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto sector include Rush Enterprises, Inc. ( RUSHA ), Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Rush Enterprises and Lithia Motors sport a Zacks Rank #1 (Strong Buy) while Asbury Automotive is a Zacks Rank #2 (Buy) stock.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the auto sector include Rush Enterprises, Inc. ( RUSHA ), Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Our Take Penske is poised to benefit from increasing dealerships, rising sales of new and used vehicles and a strong financial position. | Some better-ranked stocks in the auto sector include Rush Enterprises, Inc. ( RUSHA ), Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Rush Enterprises and Lithia Motors sport a Zacks Rank #1 (Strong Buy) while Asbury Automotive is a Zacks Rank #2 (Buy) stock. | Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the auto sector include Rush Enterprises, Inc. ( RUSHA ), Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Penske Automotive Group, Inc - Earnings Surprise | FindTheBest Net income from continuing operations rose 27.5% to $80.3 million in the quarter from $63 million a year ago. | Some better-ranked stocks in the auto sector include Rush Enterprises, Inc. ( RUSHA ), Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report PENSKE AUTO GRP (PAG): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. New Vehicle revenues escalated 18.2% to $2.24 billion on a 10.5% rise in sales to 55,510 units. |
28927.0 | 2014-07-24 00:00:00 UTC | Lithia Motors Shares Up on Q2 Earnings and Revenue Beat - Analyst Blog | ABG | https://www.nasdaq.com/articles/lithia-motors-shares-up-on-q2-earnings-and-revenue-beat-analyst-blog-2014-07-24 | nan | nan | Lithia Motors Inc. 's ( LAD ) share price rose 4.6% to $94.59 on Jul 23 after the company reported that its second-quarter 2014 adjusted net income was the highest in the company's history. Adjusted earnings increased 28% to $1.34 per share in the second quarter of 2014 compared with $1.05 earned in the year-ago quarter. Earnings also beat the Zacks Consensus Estimate of $1.25 by 9 cents.
Adjusted net income augmented 29% to $35.2 million from $27.4 million in the year-ago quarter. Alternatively, unadjusted net income from continuing operations was $35.2 million or $1.34 per share, compared to $25.3 million or 97 cents per share in the year-ago quarter.
Thee second quarter 2014 adjusted results from continuing operations exclude non-core charges related to acquisition expenses for the pending DCH combination offset by non-core gains resulting from a tax attribute. As a result, the adjusted and non-adjusted figures are the same. Second quarter 2013 adjusted income from continuing operations excludes 9 cents per share expense for non-core legal reserve related to a case filed in 2006, partly offset by a 1 cent per share benefit from a tax attribute.
Revenues from continuing operations in the reported quarter increased 21% to $1.2 billion from $1 billion in the year-ago quarter. Revenues marginally beat the Zacks Consensus Estimate of $1.19 billion. The improvement in revenues was driven by better performance across all segments, with service, body and parts, and new vehicle and used vehicle sales being the bright spots.
Lithia Motors Inc - Earnings Surprise | FindTheBest
Revenues from new vehicle sales improved 21.9% in the quarter to $694.5 million. New vehicle retail sales increased 20.1% to 20,446 units. Revenues per new vehicle increased 1.5% to $33,967. On a same-store basis, revenues from new vehicle sales went up 12% to $632.8 million.
Revenues from used vehicle retail climbed 20.1% to $310.5 million in the quarter. Revenues from used vehicle wholesale went up 17.5% to $44.3 million. Used vehicle retail sales improved 14.3% to 16,086 units with revenues per vehicle increasing 5.1% to $19,301. Used vehicle wholesale sales improved 15.4% to 6,047 units and revenues per vehicle went up 1.8% to $7,324. Same-store revenues from used vehicle retail sales went up 11% to $285.5 million. Same-store revenues from used vehicle wholesale gained 11.3% to $41.9 million.
Revenues from service body and parts went up 21% to $114.3 million. Meanwhile, the company's finance and insurance business witnessed a 28.1% rise in revenues to $43.8 million. However, revenues from Fleet and others inched up 1.4% to $14.4 million.
Gross profit increased 20.3% to $192.3 million from $159.8 million in the year-ago quarter. Operating income improved 22.6% to $105.7 million from $86.2 million in the second quarter of 2013.
Financial Details
Lithia Motors had cash and cash equivalents of $28.2 million as of Jun 30, 2014, up from $23.7 million as of Dec 31, 2013. Total debt was $260.8 million as of Jun 30, 2014 compared with $245.5 million as of Dec 31, 2013.
In the first six months of 2014, the company had an operating cash outflow of $4.2 million compared with a cash inflow of $24.4 million in the corresponding period of 2013.
Acquisitions
In Jun 2014, Lithia entered into an agreement with DCH Auto Group Limited to acquire total outstanding shares of DCH Auto Group Inc. The DCH stores are estimated to generate revenues of approximately $2.3 billion per annum.
In Jun 2014, Lithia also acquired Vic Alfonso Cadillac and Braley & Graham Buick GMC in Portland, OR. These stores are expected to generate total annual revenues of $60 million.
In Apr 2014, Lithia acquired Access Ford Lincoln in Corpus Christi, Texas and opened Lithia Chrysler Jeep Dodge Ram of Wasilla in Wasilla, AK. These stores are expected to generate $105 million in estimated total annual revenues.
The company president stated that the acquisition market will continue to remain strong. Lithia purchased 3 more stores in the second quarter of 2014, which totals to 8 stores acquired or opened so far this year.
Dividend and Share Repurchase
The board of directors of the company announced a dividend of 16 cents per share concurrent with the second quarter 2014 financial results, payable to shareholders on Aug 8, 2014.
Lithia repurchased 30,000 shares in the reported quarter at a weighted average price of $75.36 per share.
Outlook
Lithia Motors expects third quarter 2014 earnings in the range of $1.36-$1.38 per share. The company expects revenues between $1.2 billion and $1.3 billion, with a 13% increase in new vehicle same-store sales and a 7.5% rise in used vehicle same-store sales. Same-store sales from service body and parts are expected to improve 8% in the third quarter of 2014.
For the fourth quarter and full-year 2014, the company expects earnings for the combined Lithia/DCH organization to be in the range of $1.23-$1.26 per share and $4.95-$5.00 per share, respectively.
Same store total revenue for the fourth quarter is likely to be in the range of $1.1-$1.2 billion with an 11% rise in new vehicle same-store sales and a 6% increase in used vehicle same-store sales. Same-store sales from service body and parts are expected to improve 8% in the fourth quarter of 2014.
Lithia Motors currently carries a Zacks Rank #1 (Strong Buy).
Other stocks performing well in the auto industry include Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ) and Rush Enterprises, Inc. ( RUSHA ). All these stocks hold a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other stocks performing well in the auto industry include Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ) and Rush Enterprises, Inc. ( RUSHA ). Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Second quarter 2013 adjusted income from continuing operations excludes 9 cents per share expense for non-core legal reserve related to a case filed in 2006, partly offset by a 1 cent per share benefit from a tax attribute. | Other stocks performing well in the auto industry include Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ) and Rush Enterprises, Inc. ( RUSHA ). Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Thee second quarter 2014 adjusted results from continuing operations exclude non-core charges related to acquisition expenses for the pending DCH combination offset by non-core gains resulting from a tax attribute. | Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Other stocks performing well in the auto industry include Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ) and Rush Enterprises, Inc. ( RUSHA ). The company expects revenues between $1.2 billion and $1.3 billion, with a 13% increase in new vehicle same-store sales and a 7.5% rise in used vehicle same-store sales. | Other stocks performing well in the auto industry include Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ) and Rush Enterprises, Inc. ( RUSHA ). Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Operating income improved 22.6% to $105.7 million from $86.2 million in the second quarter of 2013. |
28928.0 | 2014-07-23 00:00:00 UTC | Sonic Automotive Slumps: SAH Falls 5.8% in Session - Tale of the Tape | ABG | https://www.nasdaq.com/articles/sonic-automotive-slumps%3A-sah-falls-5.8-in-session-tale-of-the-tape-2014-07-23 | nan | nan | Sonic Automotive, Inc. ( SAH ) saw a big move last session, as the company's shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for SAH, as the stock is now down 10.7% since July 3.
The automotive retailer has seen a flat track record when it comes to current year estimate revisions over the past few weeks , and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.
SAH currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Some better-ranked stocks in the Retail/Wholesale Auto/Truck industry include Lithia Motors Inc. ( LAD ), Rush Enterprises, Inc. ( RUSHA ), and Asbury Automotive Group, Inc. ( ABG ). While Lithia Motors and Rush Enterprises sport a Zacks Rank #1 (Strong Buy), Asbury Automotive holds a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the Retail/Wholesale Auto/Truck industry include Lithia Motors Inc. ( LAD ), Rush Enterprises, Inc. ( RUSHA ), and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Sonic Automotive, Inc. ( SAH ) saw a big move last session, as the company's shares fell by nearly 6% on the day. | Some better-ranked stocks in the Retail/Wholesale Auto/Truck industry include Lithia Motors Inc. ( LAD ), Rush Enterprises, Inc. ( RUSHA ), and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. While Lithia Motors and Rush Enterprises sport a Zacks Rank #1 (Strong Buy), Asbury Automotive holds a Zacks Rank #2 (Buy). | Click to get this free report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the Retail/Wholesale Auto/Truck industry include Lithia Motors Inc. ( LAD ), Rush Enterprises, Inc. ( RUSHA ), and Asbury Automotive Group, Inc. ( ABG ). While Lithia Motors and Rush Enterprises sport a Zacks Rank #1 (Strong Buy), Asbury Automotive holds a Zacks Rank #2 (Buy). | Some better-ranked stocks in the Retail/Wholesale Auto/Truck industry include Lithia Motors Inc. ( LAD ), Rush Enterprises, Inc. ( RUSHA ), and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Sonic Automotive, Inc. ( SAH ) saw a big move last session, as the company's shares fell by nearly 6% on the day. |
28929.0 | 2014-07-23 00:00:00 UTC | Polaris Industries Beats on Q2 Earnings & Revenues, Ups View - Analyst Blog | ABG | https://www.nasdaq.com/articles/polaris-industries-beats-on-q2-earnings-revenues-ups-view-analyst-blog-2014-07-23 | nan | nan | Polaris Industries, Inc. ( PII ) posted earnings per share of $1.42 in the second quarter of 2014, reflecting a 26% rise from $1.13 per share reported in the year-ago quarter. Earnings beat the Zacks Consensus Estimate by 2 cents.
Net income increased 21% to $96.9 million from $80 million a year ago. Revenues for the second quarter 2014 were $1.01 billion, reflecting an increase of 20% over last year's second quarter sales of $844.8 million. Revenues surpassed the Zacks Consensus estimate of $1 billion.
Earnings and revenues were driven by significant retail sales growth, up 15% in North America, attributable to share gains in the side-by-side vehicle product line and continued growth of the Indian motorcycle business.
International sales for the second quarter of 2014 were $170.5 million, a 26% increase over the same period in 2013. The increase in second quarter sales was led by strong sales growth in all international regions. Europe, Middle East and Africa (EMEA) sales increased 22%, Asia Pacific sales were up 40% and Latin America sales rose 36%. Both ORV and Motorcycles gained market share outside of North America during the second quarter.
Gross profit rose 21% to $304.9 million from $252.3 million in the second quarter of 2013. As a percentage of sales, gross profit margin improved 20 basis points to 30.1% of sales for the second quarter of 2014, compared with 29.9% of sales in the same period last year. Impact of negative currency movements of the Canadian dollar and weaker product mix on gross margins during the quarter was more than offset by lower product costs and higher pricing.
Product Line Highlights
Revenues from off-road vehicles increased 13% from second quarter 2013 to $701.5 million in the reported quarter. The increase was driven by higher demand and North American market share gains for both ATVs and side-by-side vehicles.
Meanwhile, revenues from snowmobiles dropped 27% to $6.1 million in the reported quarter compared with $8.5 million in the second quarter of 2013. The low sales in the quarter result from the off-season for snowmobile retail sales and shipments.
Revenues of the Motorcycles division soared 107% year over year to $103.1 million in the second quarter due to continued strong demand for the new model year 2014 Indian motorcycles.
Revenues of the Small Vehicles division rose 29% year over year to $43.5 million. All three businesses - Vis Aixam Mega, GEM and Goupil - recorded year over year increase in sales.
Revenues in the Parts, Garments, and Accessories (PG&A) increased 20% year over year to $159.7 million during the second quarter of 2014. Sales of PG&A to customers outside of North America increased 10% year over year. Revenues in all the product lines experienced double-digit percentage growth during the quarter driven by the Kolpin acquisition in Apr 2014.
Operating expenses surged 19% to $164.1 million from $138.3 million in the year-ago quarter.
Financial Position
Polaris had cash and cash equivalents of $119.0 million as of Jun 30, 2014, down from $217.7 million as of Jun 30, 2013. Total debt at the end of the second quarter was $367.6 million. Debt-to-total capital ratio rose to 35% as of Jun 30, 2014 from 12% as of Jun 30, 2013 due to the significant share repurchase transaction completed in Nov 2013.
Outlook
Polaris raised its full year 2014 guidance for earnings to $6.48-$6.58 per share, up 20%-22% over 2013 earnings from continuing operations of $5.40 per share. Meanwhile, the company expects 16%-18% sales growth in 2014.
Polaris currently carries a Zacks Rank #2 (Buy).
Other better-ranked stocks in the auto sector are Lithia Motors Inc. ( LAD ), Rush Enterprises, Inc. ( RUSHA ) and Asbury Automotive Group, Inc. ( ABG ). While Lithia Motors and Rush Enterprises hold a Zacks Rank #1 (Strong Buy), Asbury Automotive Group sports a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other better-ranked stocks in the auto sector are Lithia Motors Inc. ( LAD ), Rush Enterprises, Inc. ( RUSHA ) and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report POLARIS INDUS (PII): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. The increase was driven by higher demand and North American market share gains for both ATVs and side-by-side vehicles. | Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report POLARIS INDUS (PII): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Other better-ranked stocks in the auto sector are Lithia Motors Inc. ( LAD ), Rush Enterprises, Inc. ( RUSHA ) and Asbury Automotive Group, Inc. ( ABG ). Earnings and revenues were driven by significant retail sales growth, up 15% in North America, attributable to share gains in the side-by-side vehicle product line and continued growth of the Indian motorcycle business. | Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report POLARIS INDUS (PII): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Other better-ranked stocks in the auto sector are Lithia Motors Inc. ( LAD ), Rush Enterprises, Inc. ( RUSHA ) and Asbury Automotive Group, Inc. ( ABG ). Revenues for the second quarter 2014 were $1.01 billion, reflecting an increase of 20% over last year's second quarter sales of $844.8 million. | Other better-ranked stocks in the auto sector are Lithia Motors Inc. ( LAD ), Rush Enterprises, Inc. ( RUSHA ) and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report POLARIS INDUS (PII): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues for the second quarter 2014 were $1.01 billion, reflecting an increase of 20% over last year's second quarter sales of $844.8 million. |
28930.0 | 2014-07-07 00:00:00 UTC | AutoNation Maintains Strong Operating Performance - Analyst Blog | ABG | https://www.nasdaq.com/articles/autonation-maintains-strong-operating-performance-analyst-blog-2014-07-07 | nan | nan | On Jul 3, 2014, we issued an updated research report on AutoNation Inc. ( AN ). This Zacks Rank #1 (Strong Buy) stock is performing well in all business segments.
AutoNation recorded a 10.3% rise in earnings per share from the year-ago quarter to 75 cents per share in first-quarter 2014, in line with the Zacks Consensus Estimate. The year-over-year improvement in earnings was driven by gross profit in all business sectors. Revenues increased 6.5% to $4.36 billion but missed the Zacks Consensus Estimate of $4.39 billion.
AutoNation is undertaking rapid store expansion to boost sales. On Apr 1, 2014, the company opened an Audi store in South Orlando. Additionally, in Jun 2014, it announced an agreement to purchase Roundtree Chrysler Dodge Jeep Ram in Mobile, AL.
Moreover, AutoNation follows an aggressive share repurchase policy. In 2012 and 2013, the company repurchased 16.6 million shares and 1.1 million shares, respectively. Further, AutoNation bought back 2.4 million shares for an aggregate price of $115.7 million in the first quarter of 2014.
However, rising interest rates pose a threat to the companyas a significant amount of its debt carries variable rate. The Zacks Consensus Estimate for AutoNation's 2014 earnings is currently $3.41 per share, which translates into a year-over-year growth rate of 14.58%.
Key Picks from the Sector
Other stocks worth considering in the same industry include Asbury Automotive Group, Inc. ( ABG ), Group 1 Automotive Inc. ( GPI ) and Lithia Motors Inc. ( LAD ). All these stocks carry a Zacks Rank #1.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key Picks from the Sector Other stocks worth considering in the same industry include Asbury Automotive Group, Inc. ( ABG ), Group 1 Automotive Inc. ( GPI ) and Lithia Motors Inc. ( LAD ). Click to get this free report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. The year-over-year improvement in earnings was driven by gross profit in all business sectors. | Key Picks from the Sector Other stocks worth considering in the same industry include Asbury Automotive Group, Inc. ( ABG ), Group 1 Automotive Inc. ( GPI ) and Lithia Motors Inc. ( LAD ). Click to get this free report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Key Picks from the Sector Other stocks worth considering in the same industry include Asbury Automotive Group, Inc. ( ABG ), Group 1 Automotive Inc. ( GPI ) and Lithia Motors Inc. ( LAD ). AutoNation recorded a 10.3% rise in earnings per share from the year-ago quarter to 75 cents per share in first-quarter 2014, in line with the Zacks Consensus Estimate. | Key Picks from the Sector Other stocks worth considering in the same industry include Asbury Automotive Group, Inc. ( ABG ), Group 1 Automotive Inc. ( GPI ) and Lithia Motors Inc. ( LAD ). Click to get this free report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. AutoNation recorded a 10.3% rise in earnings per share from the year-ago quarter to 75 cents per share in first-quarter 2014, in line with the Zacks Consensus Estimate. |
28931.0 | 2014-06-13 00:00:00 UTC | Lithia Buys General Motors Stores in Portland - Analyst Blog | ABG | https://www.nasdaq.com/articles/lithia-buys-general-motors-stores-in-portland-analyst-blog-2014-06-13 | nan | nan | Lithia Motors Inc. ( LAD ) announced the acquisition of Vic Alfonso Cadillac and Braley & Graham Buick GMC in Portland, OR. Lithia will be renaming the stores as Buick GMC of Beaverton and Cadillac of Portland Lloyd Center. The stores are expected to increase Lithia's revenues by $60 million annually.
Lithia is contented with its expansion as it makes the company the sole Cadillac dealer in the city. It will also increase Lithia's BMW and Mercedes Benz stores in Portland. With the acquisition of these 2 General Motors Co. ( GM ) stores, Lithia now operates with 7 stores in Portland.
Lithia is aggressively pursuing store acquisitions to expand its business. On Apr 2, 2014, Lithia took over Access Ford store in Corpus Christi, TX and opened Lithia Chrysler Jeep Dodge of Wasilla in Wasilla, AK. The company expects that these stores will add $105 million to its annual revenues.
On Mar 7, 2014, Lithia announced the acquisition of Honolulu Buick GMC Cadillac and Honolulu Volkswagen stores in Honolulu, HI. The stores are expected to generate $75 million additional revenues annually. The company presently has 3 stores in the state and intends to achieve economies of scale by increasing the store count in the region.
On Feb 10, 2014, Lithia acquired Hammer Lane Volkswagen in Stockton, CA. The store was renamed as Volkswagen of Stockton and is expected to generate $20 million additional revenues annually. On Feb 4, 2014, Lithia acquired the Island Honda of Kahului in Hawaii. The store, which was the company's first acquisition in Maui, is expected to add $30 million in annual revenues.
Lithia Motors is the eighth largest automotive retailer in the U.S. With 101 stores in 12 states, the company offers 28 new vehicle brands along with all brands of used vehicles. Currently, Lithia retains a Zacks Rank #1 (Strong Buy).
Some other automotive retailer stocks worth considering are Asbury Automotive Group, Inc. ( ABG ) and Rush Enterprises, Inc. ( RUSHA ). Both these stocks carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other automotive retailer stocks worth considering are Asbury Automotive Group, Inc. ( ABG ) and Rush Enterprises, Inc. ( RUSHA ). Click to get this free report GENERAL MOTORS (GM): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Lithia Motors Inc. ( LAD ) announced the acquisition of Vic Alfonso Cadillac and Braley & Graham Buick GMC in Portland, OR. | Click to get this free report GENERAL MOTORS (GM): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Some other automotive retailer stocks worth considering are Asbury Automotive Group, Inc. ( ABG ) and Rush Enterprises, Inc. ( RUSHA ). On Mar 7, 2014, Lithia announced the acquisition of Honolulu Buick GMC Cadillac and Honolulu Volkswagen stores in Honolulu, HI. | Click to get this free report GENERAL MOTORS (GM): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Some other automotive retailer stocks worth considering are Asbury Automotive Group, Inc. ( ABG ) and Rush Enterprises, Inc. ( RUSHA ). The stores are expected to increase Lithia's revenues by $60 million annually. | Some other automotive retailer stocks worth considering are Asbury Automotive Group, Inc. ( ABG ) and Rush Enterprises, Inc. ( RUSHA ). Click to get this free report GENERAL MOTORS (GM): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. With the acquisition of these 2 General Motors Co. ( GM ) stores, Lithia now operates with 7 stores in Portland. |
28932.0 | 2014-06-06 00:00:00 UTC | Will RadioShack (RSH) Disappoint this Earnings Season? - Analyst Blog | ABG | https://www.nasdaq.com/articles/will-radioshack-rsh-disappoint-this-earnings-season-analyst-blog-2014-06-06 | nan | nan | The struggling American franchise of electronics retail stores, RadioShack Corp. ( RSH ), is slated to report first-quarter fiscal 2015 earnings before the opening bell on June 10, 2014.
The company has reported dismal quarterly numbers in all the last four quarters with an average negative earnings surprise of 309.8%, including earnings miss of 706.3% in the previously concluded quarter alone. Let's see how the company is positioned prior to the first-quarter earnings announcement.
Factors Likely to Influence this Quarter
RadioShack is facing bottom-line pressure at its lucrative wireless platform. The company is also suffering from costs associated with transitions from an adverse product mix to low-margin smartphones, and from T-Mobile to a wireless carrier partnership, along with underperformance of its businesses with Sprint.
Although management remains confident about achieving business from Verizon, RadioShack believes that the latter's business needs aggressive marketing efforts to enhance consumer awareness. We expect revenues from the Wireless division to remain weak for the rest of 2014.
Consumers nowadays prefer purchasing online to visiting retail stores. Declining foot traffic has severely affected RadioShack's business. Most gadget-freak consumers prefer tablets and smartphones today, which however, ring in less profit for the retail industry. The core retail businesses of RadioShack, namely, the consumer electronics (including digital TVs, digital music players, and digital cameras) platform thus continues its free fall.
Earnings Whispers?
Our proven model does not conclusively show that RadioShack is likely to beat the Zacks Consensus Estimate this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1, 2 or 3 for this to happen. Unfortunately, this is not the case here as elaborated below.
Zacks ESP: Both the Most Accurate estimate and the Zacks Consensus Estimate are poised at a loss of 52 cents. Hence, the ESP is 0.00%.
Zacks Rank: RadioShack has a Zacks Rank #5 (Strong Sell).
We caution investors against the stock going into the earnings announcement, as a Zacks Earnings ESP of 0.0% combined with a Zacks Rank #5 lowers the possibility of an earnings surprise.
Other Stocks to Consider
Here are some other companies to consider as our model shows these have the right combination of elements to post an earnings beat this quarter.
Aaron's, Inc. ( AAN ), with earnings ESP of +6.52% and a Zacks Rank #1 (Strong Buy).
Asbury Automotive Group, Inc. ( ABG ), with earnings ESP of +12.04% and a Zacks Rank #2 (Buy).
hhgregg, Inc. ( HGG ), with earnings ESP of +12.50% and a Zacks Rank #3 (Hold).
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AARONS INC (AAN): Free Stock Analysis Report
HHGREGG INC (HGG): Free Stock Analysis Report
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group, Inc. ( ABG ), with earnings ESP of +12.04% and a Zacks Rank #2 (Buy). Click to get this free report RADIOSHACK CORP (RSH): Free Stock Analysis Report AARONS INC (AAN): Free Stock Analysis Report HHGREGG INC (HGG): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. The struggling American franchise of electronics retail stores, RadioShack Corp. ( RSH ), is slated to report first-quarter fiscal 2015 earnings before the opening bell on June 10, 2014. | Click to get this free report RADIOSHACK CORP (RSH): Free Stock Analysis Report AARONS INC (AAN): Free Stock Analysis Report HHGREGG INC (HGG): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive Group, Inc. ( ABG ), with earnings ESP of +12.04% and a Zacks Rank #2 (Buy). The core retail businesses of RadioShack, namely, the consumer electronics (including digital TVs, digital music players, and digital cameras) platform thus continues its free fall. | Click to get this free report RADIOSHACK CORP (RSH): Free Stock Analysis Report AARONS INC (AAN): Free Stock Analysis Report HHGREGG INC (HGG): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive Group, Inc. ( ABG ), with earnings ESP of +12.04% and a Zacks Rank #2 (Buy). The company has reported dismal quarterly numbers in all the last four quarters with an average negative earnings surprise of 309.8%, including earnings miss of 706.3% in the previously concluded quarter alone. | Asbury Automotive Group, Inc. ( ABG ), with earnings ESP of +12.04% and a Zacks Rank #2 (Buy). Click to get this free report RADIOSHACK CORP (RSH): Free Stock Analysis Report AARONS INC (AAN): Free Stock Analysis Report HHGREGG INC (HGG): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1, 2 or 3 for this to happen. |
28933.0 | 2014-05-23 00:00:00 UTC | Group 1 Gains on Dealership Acquisition - Analyst Blog | ABG | https://www.nasdaq.com/articles/group-1-gains-on-dealership-acquisition-analyst-blog-2014-05-23 | nan | nan | Shares of Group 1 Automotive Inc. ( GPI ) gained 0.7% on May 19, after the company acquired the South Point Kia dealership in Austin, TX. The acquisition is expected to boost its revenues by about $55 million annually.
Other dealerships owned by Group 1 in Austin include Maxwell Ford, Town North Nissan and Round Rock Nissan. The company regularly acquires dealerships to expand its business and intends to pursue further acquisitions.
So far this year, Group 1 has acquired 6 franchisees and sold 1. The acquired franchisees are expected to increase its revenues by $295 million per annum, while the divestiture will lead to a loss of about $20 million in annual revenues.
Last month, Group 1 acquired the Alex Rodriguez Mercedes-Benz dealership in League City, TX. The company will rename the dealership, which is expected to generate annual revenues of $85 million, as Mercedes-Benz of Clear Lake. Concurrently, the company opened a new South Loop Hyundai dealership facility in Houston.
In January, Group 1 announced the acquisition of 2 dealerships - Heller Ford of Ford Motor Co. ( F ) and Heller Hyundai in Southern California. The dealerships will be renamed as Ford of Escondido and Hyundai of Escondido. The acquisitions are expected to boost annual revenues of Group 1 by $135 million.
As of May 19, 2014, Group 1 owns 152 automotive dealerships, 193 franchises, and 37 collision centers in the United States, the United Kingdom and Brazil. The company currently carries a Zacks Rank #3 (Hold).
Some better-ranked automobile companies worth considering are Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Lithia carries a Zacks Rank #1 (Strong Buy), while Asbury Automotive carries a Zacks Rank #2 (Buy).
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GROUP 1 AUTO (GPI): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked automobile companies worth considering are Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report ASBURY AUTO GRP (ABG): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Group 1 Automotive Inc. ( GPI ) gained 0.7% on May 19, after the company acquired the South Point Kia dealership in Austin, TX. | Click to get this free report ASBURY AUTO GRP (ABG): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked automobile companies worth considering are Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Lithia carries a Zacks Rank #1 (Strong Buy), while Asbury Automotive carries a Zacks Rank #2 (Buy). | Click to get this free report ASBURY AUTO GRP (ABG): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked automobile companies worth considering are Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Shares of Group 1 Automotive Inc. ( GPI ) gained 0.7% on May 19, after the company acquired the South Point Kia dealership in Austin, TX. | Some better-ranked automobile companies worth considering are Lithia Motors Inc. ( LAD ) and Asbury Automotive Group, Inc. ( ABG ). Click to get this free report ASBURY AUTO GRP (ABG): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Group 1 Automotive Inc. ( GPI ) gained 0.7% on May 19, after the company acquired the South Point Kia dealership in Austin, TX. |
28934.0 | 2014-05-02 00:00:00 UTC | Can the Uptrend Continue for Asbury Automotive (ABG)? - Tale of the Tape | ABG | https://www.nasdaq.com/articles/can-the-uptrend-continue-for-asbury-automotive-abg-tale-of-the-tape-2014-05-02 | nan | nan | Investors certainly have to be happy with Asbury Automotive Group, Inc. ( ABG ) and its short term performance. After all, the stock has jumped by 7.4% in the past 4 weeks, and it is also above its 20 Day Simple Moving Average as well. This is certainly a good trend, but investors are probably asking themselves, can this positive trend continue for ABG?
While we can never know for sure, it is pretty encouraging that estimates for ABG have moved higher in the past few weeks, meaning that analyst sentiment is moving in the right way. Plus, the stock actually has a Zacks Rank #2 (Buy), so the recent move higher for this spotlighted company may definitely continue over the next few weeks.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors certainly have to be happy with Asbury Automotive Group, Inc. ( ABG ) and its short term performance. ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. This is certainly a good trend, but investors are probably asking themselves, can this positive trend continue for ABG? | While we can never know for sure, it is pretty encouraging that estimates for ABG have moved higher in the past few weeks, meaning that analyst sentiment is moving in the right way. Investors certainly have to be happy with Asbury Automotive Group, Inc. ( ABG ) and its short term performance. This is certainly a good trend, but investors are probably asking themselves, can this positive trend continue for ABG? | While we can never know for sure, it is pretty encouraging that estimates for ABG have moved higher in the past few weeks, meaning that analyst sentiment is moving in the right way. Investors certainly have to be happy with Asbury Automotive Group, Inc. ( ABG ) and its short term performance. This is certainly a good trend, but investors are probably asking themselves, can this positive trend continue for ABG? | Investors certainly have to be happy with Asbury Automotive Group, Inc. ( ABG ) and its short term performance. This is certainly a good trend, but investors are probably asking themselves, can this positive trend continue for ABG? While we can never know for sure, it is pretty encouraging that estimates for ABG have moved higher in the past few weeks, meaning that analyst sentiment is moving in the right way. |
28935.0 | 2014-05-01 00:00:00 UTC | Barrick's Profit Slides, but Earnings Beat - Analyst Blog | ABG | https://www.nasdaq.com/articles/barricks-profit-slides-but-earnings-beat-analyst-blog-2014-05-01 | nan | nan | Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) for the first quarter of 2014 plummeted to 20 cents per share from 92 cents in the year-ago quarter but managed to beat the Zacks Consensus Estimate by a penny. Lower metal prices and a decline in gold sales volumes led to the decline in earnings.
On a reported basis, net income in the first quarter was $88 million or 8 cents per share, down roughly 90% from net income of $847 million or 85 cents per share in the prior-year quarter. Profit for the reported quarter includes $113 million in unrealized foreign currency translation losses, $30 million in demobilization costs associated with the ramp-down of the Pascua-Lama mine and $18 million in gains on non-hedge derivative instruments.
Revenues fell around 22.6% year over year to $2,632 million in the reported quarter and missed the Zacks Consensus Estimate of $2,637 million. Average realized price of gold decreased 21.1% year over year to $1,285 per ounce. All-in costs declined 31.5% to $933 per ounce while all-in sustaining costs fell roughly 10.7% to $833 per ounce in the reported quarter.
Gold production fell to 1.59 million ounces in the quarter from 1.8 million ounces a year ago. Copper production declined to 104 million pounds from 127 million pounds in the prior-year quarter.
Regional Results
North America: The Goldstrike mine in the North American region produced 0.26 million ounces of gold in the quarter, up 13.9% year over year, at an average all-in sustaining costs (AISC) of $755 per ounce. The Cortez mine produced 0.23 million ounces, down 33.8% year over year. Production at the Pueblo Viejo increased 65.6% to 0.16 million ounces. Production at Lagunas Norte and Veladero mines declined 7.6% and 22.9% year over year, respectively. In North America, Other mines production increased 9.9% to 0.22 million ounces.
Australia Pacific: The region produced 0.31 million ounces in the quarter compared with 0.45 million ounces in the year-ago quarter. AISC was $847 per ounce, down from $1,076 per ounce in the year-ago quarter.
African Barrick Gold plc. (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces compared with 0.11 million ounces in the year-ago quarter. AISC was $1,131 per ounce in the quarter, down 28.3% year over year.
Financial Position
Cash and cash equivalents stood at $2,672 million as of Mar 31, 2014, up roughly 14.1% from $2,342 million as of Mar 31, 2013. Total debt was roughly $13 billion, down around 8% from $14.1 billion a year ago.
Suspension of Pascua-Lama Mine
During fourth-quarter 2013, Barrick temporarily suspended construction activities at the Pascua-Lama mine, barring the requisite activities for environmental protection and regulatory compliance. Earlier in 2013, Chile's environmental regulator halted construction on its side of the project, and imposed sanctions citing "serious violations" of its environmental permit.
The ramp-down is expected to be completed by mid-2014. The company expects to incur costs of roughly $300 million in 2014 due to the ramp-down as well as for the environmental and social obligations.
Barrick stated that it will halt work in such a manner that will allow efficient and effective re-start when conditions permit. The decision to re-start will depend on certain factors like improved project economics, outlook for metal prices, and reduced uncertainty associated with legal and other regulatory requirements.
Portfolio Optimization
Barrick continues to take initiatives to optimize its portfolio and lower costs. The company has divested non-core assets for a total consideration of over $1 billion since Jul 2013, including the sale of the Kanowna and Plutonic mines in Australia and its 33% stake in the Marigold mine in Nevada in 2014.
Barrick also reduced 10% equity interest in ABG during the quarter, leveraging the substantial improvement in ABG's share price in 2014 and creating additional liquidity in the entity.
Barrick is in the process of completing advanced scenario plans for a range of metal price environments, which will enable it to respond and adapt rapidly to changes in market conditions.
Outlook
For 2014, Barrick has reaffirmed its gold production and AISC guidance. It expects gold production in the range of 6-6.5 million ounces. Barrick expects AISC to be $920-$980 per ounce.
The five core mines are expected to contribute about 60% of total production in 2014 at an average AISC of $750-$800 per ounce. Barrick remains on track to achieve run rate for annual savings goal of $500 million by the end of 2014.
The company reduced its copper guidance for 2014 to 410-440 million pounds from 470-500 million ponds to reflect the processing disruption at Lumwana. C1 cash cost guidance remains unchanged at $1.90-$2.10 per pound.
Currently, Barrick retains a Zacks Rank #3 (Hold).
Some better-ranked stocks in the gold mining industry include AngloGold Ashanti Ltd. ( AU ) , Gold Fields Ltd. ( GFI ) and Lake Shore Gold Corp. ( LSG ), each with a Zacks Rank #1 (Strong Buy).
BARRICK GOLD CP (ABX): Free Stock Analysis Report
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LAKE SHORE GOLD (LSG): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces compared with 0.11 million ounces in the year-ago quarter. Barrick also reduced 10% equity interest in ABG during the quarter, leveraging the substantial improvement in ABG's share price in 2014 and creating additional liquidity in the entity. The decision to re-start will depend on certain factors like improved project economics, outlook for metal prices, and reduced uncertainty associated with legal and other regulatory requirements. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces compared with 0.11 million ounces in the year-ago quarter. Barrick also reduced 10% equity interest in ABG during the quarter, leveraging the substantial improvement in ABG's share price in 2014 and creating additional liquidity in the entity. Regional Results North America: The Goldstrike mine in the North American region produced 0.26 million ounces of gold in the quarter, up 13.9% year over year, at an average all-in sustaining costs (AISC) of $755 per ounce. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces compared with 0.11 million ounces in the year-ago quarter. Barrick also reduced 10% equity interest in ABG during the quarter, leveraging the substantial improvement in ABG's share price in 2014 and creating additional liquidity in the entity. Gold production fell to 1.59 million ounces in the quarter from 1.8 million ounces a year ago. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces compared with 0.11 million ounces in the year-ago quarter. Barrick also reduced 10% equity interest in ABG during the quarter, leveraging the substantial improvement in ABG's share price in 2014 and creating additional liquidity in the entity. Gold production fell to 1.59 million ounces in the quarter from 1.8 million ounces a year ago. |
28936.0 | 2014-05-01 00:00:00 UTC | Is Asbury Automotive (ABG) a Great Growth Stock? - Tale of the Tape | ABG | https://www.nasdaq.com/articles/is-asbury-automotive-abg-a-great-growth-stock-tale-of-the-tape-2014-05-01 | nan | nan | Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors' attention, and produce big gains as well. However, these can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.
One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). This firm, which belongs to the Auto Dealership industry, saw EPS growth of 33.7% last year, and is looking great for this year too.
In fact, the current growth estimate for this year calls for earnings-per-share growth of 15.7%. Furthermore, the long-term growth rate is currently an impressive 15.5%, suggesting pretty good prospects for the long haul.
And if this wasn't enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 2.5%. Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company.
So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider ABG. Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. Click to get this free report >> ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. | Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ( ABG ). Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. |
28937.0 | 2014-03-24 00:00:00 UTC | Are Rising Inventories Good? | ABG | https://www.nasdaq.com/articles/are-rising-inventories-good-2014-03-24 | nan | nan | Two of the latest economic releases that caught my eye were wholesale sales and inventories, partly because sales fell off a cliff, but also because inventories did the opposite, rising significantly.
Sales at wholesalers fell 1.9% in January, the largest drop since 2009, and a lot of the blame, rightly or wrongly, was placed on the wintry weather. However, inventories still grew at 0.6% after an upwardly adjusted December gain of 0.4%, painting a completely different picture.
What do these two conflicting data points show us?
Inventories precede Sales
Inventories typically rise out of optimism as companies increase them in preparation of more sales. Companies generally buy inventory from the raw material and goods producers. Sales, on the other hand, are usually of the final product, the former inventories of a business that are eventually sold to the consumer or another business.
WATCH: Is Your Portfolio Really Diversified?
Generally, rising inventories are good, as long as sales keep up.
However, if sales start falling while inventories continue rising it increases the risk of future write offs and mark downs as inventory becomes obsolete and businesses have to sacrifice price in order to eventually sell product. Such an event can warn of a change in the consumer's (NYSEARCA:XLY) habits as there is too much supply and/or too little demand.
That is one reason why January's numbers caught my eye. Wholesale inventories are significantly outpacing sales.
Autos - a Barometer of Total Inventory/Sales
Rising inventories can warn that corporations are either too optimistic about the future, or they are too focused on their own sales numbers that they partake in "channel stuffing" in order to make their own sales numbers. They pass on their inventory as sales to other businesses which then take it as inventory. Eventually, though, the gig comes up as the end consumer is ultimately needed to convert inventories to sales.
A popular metric used to track the health of inventories as well as help identify channel stuffing is the inventories to sales ratio.
The chart below tracks this through time in the auto industry and shows why investors should take note of the rising auto inventory/sales ratio as it likely has implications for auto stocks such as GM ( GM ), Ford ( F ), and Honda ( HMC ).
In the chart below the automobile inventory to sales ratio generally stays between 2.0 and 2.7x. When the ratio gets outside these levels, as it has been now for two months, it should raise red flags to investors. When it is below 2.0x it often precedes an economic and equity market upturn, but when it is above 2.7x it often precedes sales slowdowns in autos.
Auto sales have been growing steadily per year since the 2009 recession bottom, finally in late 2012 surpassing the 15 million car level that has been associated with most other prior positive economic years.
But, the inventory to sales ratio now sits at 2.9x, one of the highest levels ever, and the chart displays why this should be viewed as a warning to investors. This ratio has only been this high two times in the past, once in 1995 and again in 2008 at the height of the last recession.
In December 1994, unit car sales peaked out at a six month average of 15.1 million units, one month before this inventory to sales ratio previously reached 2.8x. It took until 1998 before average six month sales started to climb meaningfully above that level again. Car sales were essentially flat for four years once the ratio surpassed 2.8x in 1994.
By the time the ratio hit 2.8x in 2008, the markets and auto sales were already in freefall, but it is clear that inventory was very overestimated in that instance as well.
If history is to be our guide then we could draw the conclusion that today either optimism of future sales is too high or the auto makers have been caught channel stuffing, either way, we should expect auto sales to slow in the coming months/years as inventory comes back in line with historical averages.
Here's the good news: You should be able to get a great deal on a vehicle ( AN ) today as dealers ( ABG ) have more inventory than ever. And as long as this inventory to sales ratio keeps rising, these deals should only get better.
The ETF Profit Strategy Newsletter keeps investors on the right side of the trends by using fundamental, technical, and sentiment analysis. Auto sales are likely to slow down as the market is oversaturated with inventory and risks a pullback from the optimism that sits near historical highs.
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Is Stock Market Sentiment Too Complacent?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here's the good news: You should be able to get a great deal on a vehicle ( AN ) today as dealers ( ABG ) have more inventory than ever. Sales at wholesalers fell 1.9% in January, the largest drop since 2009, and a lot of the blame, rightly or wrongly, was placed on the wintry weather. The ETF Profit Strategy Newsletter keeps investors on the right side of the trends by using fundamental, technical, and sentiment analysis. | Here's the good news: You should be able to get a great deal on a vehicle ( AN ) today as dealers ( ABG ) have more inventory than ever. Inventories precede Sales Inventories typically rise out of optimism as companies increase them in preparation of more sales. In December 1994, unit car sales peaked out at a six month average of 15.1 million units, one month before this inventory to sales ratio previously reached 2.8x. | Here's the good news: You should be able to get a great deal on a vehicle ( AN ) today as dealers ( ABG ) have more inventory than ever. Two of the latest economic releases that caught my eye were wholesale sales and inventories, partly because sales fell off a cliff, but also because inventories did the opposite, rising significantly. Inventories precede Sales Inventories typically rise out of optimism as companies increase them in preparation of more sales. | Here's the good news: You should be able to get a great deal on a vehicle ( AN ) today as dealers ( ABG ) have more inventory than ever. Inventories precede Sales Inventories typically rise out of optimism as companies increase them in preparation of more sales. But, the inventory to sales ratio now sits at 2.9x, one of the highest levels ever, and the chart displays why this should be viewed as a warning to investors. |
28938.0 | 2014-03-10 00:00:00 UTC | Lithia Motors Buys Stores in Hawaii - Analyst Blog | ABG | https://www.nasdaq.com/articles/lithia-motors-buys-stores-in-hawaii-analyst-blog-2014-03-10 | nan | nan | Lithia Motors Inc. ( LAD ) announced the acquisition of Honolulu Buick GMC Cadillac and Honolulu Volkswagen stores in Honolulu, Hawaii. The stores are expected to generate $75 million additional revenues annually.
This is the second acquisition by Lithia in Hawaii in the last 60 days. The company at present has 3 stores in the state. The company intends to achieve economies of scale through increased stores in the region.
Lithia acquired the Island Honda of Kahului in Hawaii on Feb 4, 2014. The store, which was the company's first acquisition in Maui, is expected to add $30 million in annual revenues.
Lithia is aggressively pursuing store acquisitions to expand its business. On Feb 10, 2014, Lithia took over Hammer Lane Volkswagen in Stockton, Calif. The store will be renamed as Volkswagen of Stockton and is expected to generate $20 million additional revenues annually.
Moreover, in Dec 10, 2013, Lithia announced the acquisition of Diablo Subaru of Walnut Creek, CA. This store is expected to contribute $50 million to annual revenues.
Lithia expects this store to turn out to be the largest Subaru store in the U.S. The strategic location of the store is an advantage. Moreover, Lithia believes that this store will complement the existing stores at Reno, NV and Fresno, CA. With this new acquisition, Lithia now has five Subaru stores.
Lithia Motors is the ninth largest automotive retailer in the U.S. With 98 stores in 12 states, the company offers 28 new vehicle brands along with all brands of used vehicle. Currently, Lithia retains a Zacks Rank #2 (Buy).
Some other automotive retailer stocks worth considering are Asbury Automotive Group, Inc. ( ABG ), Penske Automotive Group, Inc. ( PAG ) and AutoNation Inc. ( AN ). All these stocks carry the same Zacks Rank as Lithia.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other automotive retailer stocks worth considering are Asbury Automotive Group, Inc. ( ABG ), Penske Automotive Group, Inc. ( PAG ) and AutoNation Inc. ( AN ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. The store, which was the company's first acquisition in Maui, is expected to add $30 million in annual revenues. | Some other automotive retailer stocks worth considering are Asbury Automotive Group, Inc. ( ABG ), Penske Automotive Group, Inc. ( PAG ) and AutoNation Inc. ( AN ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. The stores are expected to generate $75 million additional revenues annually. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Some other automotive retailer stocks worth considering are Asbury Automotive Group, Inc. ( ABG ), Penske Automotive Group, Inc. ( PAG ) and AutoNation Inc. ( AN ). Lithia Motors Inc. ( LAD ) announced the acquisition of Honolulu Buick GMC Cadillac and Honolulu Volkswagen stores in Honolulu, Hawaii. | Some other automotive retailer stocks worth considering are Asbury Automotive Group, Inc. ( ABG ), Penske Automotive Group, Inc. ( PAG ) and AutoNation Inc. ( AN ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. This is the second acquisition by Lithia in Hawaii in the last 60 days. |
28939.0 | 2014-02-20 00:00:00 UTC | How Asbury Automotive (ABG) Stock Stands Out in a Strong Industry - Tale of the Tape | ABG | https://www.nasdaq.com/articles/how-asbury-automotive-abg-stock-stands-out-in-a-strong-industry-tale-of-the-tape-2014-02-0 | nan | nan | One stock that might be an intriguing choice for investors right now is Asbury Automotive Group, Inc. ( ABG ). This is because this security in the Auto Dealership industry is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Auto Dealership Industry as it currently has a Zacks Industry Rank of 33 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Asbury Automotive is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm's prospects in both the short and long term.
In fact, over the past month, current quarter estimates have risen from 87 cents a share to 89 cents a share, while current year estimates have risen from $3.90 per share to $3.99 per share. This has helped ABG to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position.
So, if you are looking for a decent pick in a strong industry, consider Asbury Automotive not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | One stock that might be an intriguing choice for investors right now is Asbury Automotive Group, Inc. ( ABG ). This has helped ABG to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position. Click to get this free report >> ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. | One stock that might be an intriguing choice for investors right now is Asbury Automotive Group, Inc. ( ABG ). This has helped ABG to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position. Click to get this free report >> ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. | One stock that might be an intriguing choice for investors right now is Asbury Automotive Group, Inc. ( ABG ). This has helped ABG to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position. Click to get this free report >> ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. | One stock that might be an intriguing choice for investors right now is Asbury Automotive Group, Inc. ( ABG ). This has helped ABG to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position. Click to get this free report >> ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. |
28940.0 | 2014-02-20 00:00:00 UTC | Lithia Motors (LAD) Jumps: Stock Rises 6% - Tale of the Tape | ABG | https://www.nasdaq.com/articles/lithia-motors-lad-jumps%3A-stock-rises-6-tale-of-the-tape-2014-02-20 | nan | nan | Lithia Motors Inc. ( LAD ) was a big mover last session, as the company saw its shares rise over 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $54.17 to $61.40 in the past one-month time frame.
The company has no estimate revision over the past 30 days, while the Zacks Consensus Estimate has not been in a trend either. Yesterday's jump is encouraging though, so make sure to keep a close watch on this firm in the near future.
Lithia Motors currently has a Zacks Rank #2 (Buy) while its Earnings ESP is negative.
Some other stocks worth consideration in the auto dealerships industry include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Penske Automotive Group, Inc. ( PAG ). All of these have a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks worth consideration in the auto dealerships industry include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Penske Automotive Group, Inc. ( PAG ). Click to get this free report >> ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Lithia Motors Inc. ( LAD ) was a big mover last session, as the company saw its shares rise over 6% on the day. | Some other stocks worth consideration in the auto dealerships industry include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Penske Automotive Group, Inc. ( PAG ). Click to get this free report >> ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report >> ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Some other stocks worth consideration in the auto dealerships industry include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Penske Automotive Group, Inc. ( PAG ). Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks worth consideration in the auto dealerships industry include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Penske Automotive Group, Inc. ( PAG ). Click to get this free report >> ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Lithia Motors Inc. ( LAD ) was a big mover last session, as the company saw its shares rise over 6% on the day. |
28941.0 | 2014-02-18 00:00:00 UTC | Auto Sales Slide: 3 Stocks to Bet On - Analyst Blog | ABG | https://www.nasdaq.com/articles/auto-sales-slide-3-stocks-bet-analyst-blog-2014-02-18 | nan | nan | A series of economic reports released recently seem to suggest that the economy is facing some trouble. Among these were lower factory orders and weak home sales data, as well as an increase in jobless claims. But disappointing retail data was what was particularly worrying for investors.
Retail Sales Fall
Retail sales declined 0.4% in January and December numbers were also revised downwards. An increase of 0.2% in December has now been changed to a 0.1% decline. This second monthly decline was primarily attributed to freezing temperatures in several regions of the U.S.
Core retail sales, which excludes building materials and food services, gasoline and automobiles, declined by 0.3%, after rising by the same amount in December. But some segments, such as building materials and garden equipment, experienced gains of 1.4%.
In fact, excluding automobiles, retails sales werely mostly unchanged. Sales at auto dealers fell 2.1%, leading the pack of decliners. Carmakers also blamed weak sales numbers on unusually frigid temperatures.
Strong 2013 Numbers
Auto sales exceeded analysts' initial expectations for 2013, despite slipping somewhat in December. 15.6 million cars and trucks were sold in the U.S., the highest figure clocked since the 16.1 million recorded in 2007.
Detroit automakers contributed 7.4 million of the total numbers, with the Detroit Three performing particularly well. Ford Motor Co. ( F ) topped the chart with a 10.8% increase over 2012. Analysts expect sales to slow down this year as pent-up demand declines.
However, profitability is expected to increase and Edmunds.com has even predicted an increase of 6% in 2014. Toyota Motor Corp. ( TM ) believes U.S. auto sales will continue to recover, albeit slowly. As many emerging markets struggle, carmakers will increasingly focus on mature economies such as the U.S.
Below we present three auto retailers which stand to gain from the continuing recovery in car sales, each of which also has a good Zacks rank.
Asbury Automotive Group, Inc.
One of the leading auto retailers in the U.S., Asbury Automotive Group, Inc. ( ABG ) provides a range of automotive services and sells several auto products. Asbury had 99 franchises as of December 31, 2011. At the time, the company sold 30 foreign domestic and brands of vehicles.
Asbury Automotive Group holds a Zacks Rank #2 (Buy) and has expected earnings growth of 15.10%. The forward price-to-earnings ratios (P/E) for the current financial year (F1) is 12.34.
AutoNation Inc.
AutoNation Inc. ( AN ) is an auto retailer which has three business segments: Import, Premium Luxury and Domestic. The company's stores offers 32 different brands of vehicles. Of its 258 franchises as of December 31, 2011, 215 were located in the U.S. Most of these domestic locations were in the Sunbelt region.
Currently the company holds a Zacks Rank #2 (Buy) and has expected earnings growth of 11.90%. It has a P/E (F1) of 15.16.
Lithia Motors Inc.
Our third choice is Lithia Motors Inc. ( LAD ). The company sells cars and light trucks, both used and new, as well as auto parts. Additionally, it is involved in vehicle maintenance, repair, auto related financing and credit insurance. The company sold 25 new brands across 86 domestic stores as of February 24, 2012.
Besides a Zacks Rank #2 (Buy), Lithia Motors has expected earnings growth of 9.00%. It has a P/E (F1) of 13.08.
Even though recent data has been below par, the overall outlook for the economy remains upbeat. Fed Chair Janet Yellen has promised to keep interest rates at low levels, despite the proposed cuts in stimulus. This gives credence to the argument that the auto sector will continue to recover, making these stocks good additions to your portfolio.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group, Inc. One of the leading auto retailers in the U.S., Asbury Automotive Group, Inc. ( ABG ) provides a range of automotive services and sells several auto products. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report TOYOTA MOTOR CP (TM): Free Stock Analysis Report To read this article on Zacks.com click here. Core retail sales, which excludes building materials and food services, gasoline and automobiles, declined by 0.3%, after rising by the same amount in December. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report TOYOTA MOTOR CP (TM): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive Group, Inc. One of the leading auto retailers in the U.S., Asbury Automotive Group, Inc. ( ABG ) provides a range of automotive services and sells several auto products. Asbury Automotive Group holds a Zacks Rank #2 (Buy) and has expected earnings growth of 15.10%. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report TOYOTA MOTOR CP (TM): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive Group, Inc. One of the leading auto retailers in the U.S., Asbury Automotive Group, Inc. ( ABG ) provides a range of automotive services and sells several auto products. Retail Sales Fall Retail sales declined 0.4% in January and December numbers were also revised downwards. | Asbury Automotive Group, Inc. One of the leading auto retailers in the U.S., Asbury Automotive Group, Inc. ( ABG ) provides a range of automotive services and sells several auto products. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report TOYOTA MOTOR CP (TM): Free Stock Analysis Report To read this article on Zacks.com click here. Retail Sales Fall Retail sales declined 0.4% in January and December numbers were also revised downwards. |
28942.0 | 2014-02-14 00:00:00 UTC | Barrick Misses on Q4 Earnings - Analyst Blog | ABG | https://www.nasdaq.com/articles/barrick-misses-on-q4-earnings-analyst-blog-2014-02-14 | nan | nan | Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) for the fourth quarter of 2013 plummeted to 37 cents per share from $1.16 in the year-ago quarter and missed the Zacks Consensus Estimate of 42 cents. Lower realized gold and copper prices and a decline in gold and copper sales volumes led to the decline in earnings.
On a reported basis, net loss in the fourth quarter was $2.83 billion or $2.61 per share, compared with a net loss of $3.01 billion or $3.01 per share in the prior-year quarter. The loss includes $2.82 billion in impairment charges, mainly associated with Pascua-Lama, Porgera and Veladero mines and the Australia Pacific gold segment; and $176 million in costs associated with temporary suspension of construction at Pascua-Lama.
For 2013, adjusted earnings (excluding one-time items) dropped to $2.51 per share from $3.95 in 2012. The results missed the Zacks Consensus Estimate of $2.55. On a reported basis, Barrick posted a net loss of $10.37 billion ($10.14 per share), including after-tax impairment charges of $11.54 billion, compared with a net loss of $0.54 billion or (54 cents per share) in 2012.
Revenues fell around 29.5% year over year to $2,926 million in the reported quarter but exceeded the Zacks Consensus Estimate of $2,815 million. Average realized price of gold decreased 25.8% year over year to $1,272 per ounce. All-in costs declined 8.1% to $1,317 per ounce while all-in sustaining costs fell roughly 14.2% to $899 per ounce in the reported quarter.
Gold production fell to 1.71 million ounces in the quarter from 2 million ounces a year ago. Copper production increased to 139 million pounds from 130 million pounds in the prior-year quarter.
For full-year 2013, revenues declined 13.1% year over year to $12,511 million, but beat the Zacks Consensus Estimate of $12,393 million.
Regional Results
North America: The Goldstrike mine in the North American region produced 0.24 million ounces of gold in the quarter, down 26.7% year over year, at average all-in sustaining costs (AISC) of $770 per ounce. The Cortez mine produced 0.24 million ounces, down 29.5% year over year. Production at the Pueblo Viejo increased 29.5% to 157 million ounces. Production at Lagunas Norte and Veladero mines declined 8.9% and 36% year over year, respectively. In North America-Other mines, production increased 7.5% to 0.23 million ounces.
Australia Pacific: The region produced 0.36 million ounces in the quarter compared with 0.47 million ounces in the year-ago quarter. AISC was $966 per ounce, down from $1,217 per ounce in the year-ago quarter.
African Barrick Gold plc. (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces compared with 0.13 million ounces in the year-ago quarter. AISC was $1,171 per ounce in the quarter, down 30% year over year.
Financial Position
Cash and cash equivalents stood at $2,404 million as of Dec 31, 2013, up roughly 14.6% from $2,097 million as of Dec 31, 2012. Total debt was $12.9 billion, up around 6.7% from $12.1 billion a year ago.
Suspension of Pascua-Lama Mine
Barrick announced, during the reported quarter, that it has temporarily suspended construction activities at the Pascua-Lama mine, barring the requisite activities for environmental protection and regulatory compliance. Earlier in the year, Chile's environmental regulator halted construction on its side of the project, and imposed sanctions citing "serious violations" of its environmental permit.
The ramp-down is expected to be completed by mid-2014. The company expects to incur costs of roughly $300 million in 2014 due to the ramp-down as well as for the environmental and social obligations.
Barrick stated that it will halt work in such a manner that will allow efficient and effective re-start when conditions permit. The decision to re-start will depend on certain factors like improved project economics, outlook for metal prices, and reduced uncertainty associated with legal and other regulatory requirements.
Outlook
For 2014, Barrick expects gold production in the range of 6-6.5 million ounces. The lower production in 2014 manifests the company's strategy to maximize free cash flow and returns over ounces, the sale of high-cost, short-life mines, lower production from Cortez, and the move to close Pierina. These declines will be partly offset by an increase in production at Pueblo Viejo. Barrick expects AISC to be $920-$980 per ounce and adjusted operating costs have been projected to be $590-$640 per ounce.
Barrick expects total capital expenditures to decrease by about 50% in 2014 to $2.40-$2.70 billion, a reduction of about $2.5 billion from 2013.
The company expects exploration budget, which remains focused on high quality and priority projects, to be in the range of $200-$240 million. Around 50% of the budget is allocated to Nevada, most of which is targeted for the Goldrush project.
Barrick forecasts higher finance costs of $800-$825 million in 2014 as a result of the decision to temporarily suspend Pascua-Lama, where interest will no longer be capitalized. Effective income tax rate for 2014 is expected to be around 50% assuming average gold price of $1,300 per ounce.
Currently, Barrick retains a Zacks Rank #3 (Hold).
Some better-ranked stocks in the gold mining industry include Franco-Nevada Corp. ( FNV ), Golden Star Resources Ltd. ( GSS ) and Lake Shore Gold Corp. ( LSG ), each with a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces compared with 0.13 million ounces in the year-ago quarter. The decision to re-start will depend on certain factors like improved project economics, outlook for metal prices, and reduced uncertainty associated with legal and other regulatory requirements. The company expects exploration budget, which remains focused on high quality and priority projects, to be in the range of $200-$240 million. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces compared with 0.13 million ounces in the year-ago quarter. Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) for the fourth quarter of 2013 plummeted to 37 cents per share from $1.16 in the year-ago quarter and missed the Zacks Consensus Estimate of 42 cents. Regional Results North America: The Goldstrike mine in the North American region produced 0.24 million ounces of gold in the quarter, down 26.7% year over year, at average all-in sustaining costs (AISC) of $770 per ounce. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces compared with 0.13 million ounces in the year-ago quarter. Gold production fell to 1.71 million ounces in the quarter from 2 million ounces a year ago. Regional Results North America: The Goldstrike mine in the North American region produced 0.24 million ounces of gold in the quarter, down 26.7% year over year, at average all-in sustaining costs (AISC) of $770 per ounce. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces compared with 0.13 million ounces in the year-ago quarter. Outlook For 2014, Barrick expects gold production in the range of 6-6.5 million ounces. Barrick expects AISC to be $920-$980 per ounce and adjusted operating costs have been projected to be $590-$640 per ounce. |
28943.0 | 2014-02-14 00:00:00 UTC | Penske Q4 Earnings & Revs Beat Ests - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-q4-earnings-revs-beat-ests-analyst-blog-2014-02-14 | nan | nan | Penske Automotive Group Inc. 's ( PAG ) fourth-quarter 2013 earnings improved 19.3% to 68 cents from 57 cents reported in the year-ago quarter. The results also exceeded the Zacks Consensus Estimate by 2 cents. Net profit from continuing operations rose 19.3% to $61.7 million in the quarter from $51.7 million a year ago.
Revenues grew 15% year over year to $3.9 billion, surpassing the Zacks Consensus Estimate of $3.8 billion. Same-store retail revenues rose 12.4% to $3.5 billion. The year-over-year rise was driven by an 11.4% increase in total retail sales to 90,622 units, including a 9.8% increase in same-store retail sales to 87,924. Retail sales went up 11.2% in the U.S. and 11.9% internationally.
New Vehicle revenues escalated 10.5% to $1.98 billion on a 6.7% rise in sales to 49,510 units. Used Vehicle revenues rose 21.9% to $1.1 billion owing to a 17.8% increase in sales to 41,112 units. Revenues in the Service and Parts segment rose 10.2% to $399.8 million.
Revenues in the Fleet and Wholesale Vehicle segment decreased 19.9% to $173.8 million, while revenues from the Finance and Insurance segment rose 17.4% to $94 million. Revenues from the Commercial Vehicle and Car Rental segment amounted to $117.4 million in the fourth quarter of 2013.
Gross profit improved 14.2% to $586.4 million from $513.3 billion in the fourth quarter of 2012. Operating income augmented 15.9% to $106.7 million from $92.1 million a year ago.
Fiscal 2013 Performance
Penske's earnings increased 20.5% to $2.76 per share for full-year 2013 from $2.29 in 2012, beating the Zacks Consensus Estimate of $2.72. Revenues for full-year 2013 increased 12.4% to $14.7 billion from $13.1 billion in 2012.
Financial Position
Penske had cash and cash equivalents of $49.8 million as of Dec 31, 2013, an increase from $43.5 million as of Dec 31, 2012. Long-term debt stood at $1.03 billion as of Dec 31, 2013, up from $917.1 million as of Dec 31, 2012.
Our Take
Penske sells new and previously-owned vehicles along with finance and insurance products. Apart from its franchises in the U.S. and Europe, the company offers repair and maintenance services. We are concerned about increasing competition, high inventory level and exposure to foreign exchange rates. Currently, it retains a Zacks Rank #4 (Sell).
Lithia Motors Inc. ( LAD ), AutoNation Inc. ( AN ) and Asbury Automotive Group, Inc. ( ABG ), all carrying Zacks Rank #2 (Buy), are some better-ranked automobile stocks worth considering.
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTONATION INC (AN): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Lithia Motors Inc. ( LAD ), AutoNation Inc. ( AN ) and Asbury Automotive Group, Inc. ( ABG ), all carrying Zacks Rank #2 (Buy), are some better-ranked automobile stocks worth considering. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Fiscal 2013 Performance Penske's earnings increased 20.5% to $2.76 per share for full-year 2013 from $2.29 in 2012, beating the Zacks Consensus Estimate of $2.72. | Lithia Motors Inc. ( LAD ), AutoNation Inc. ( AN ) and Asbury Automotive Group, Inc. ( ABG ), all carrying Zacks Rank #2 (Buy), are some better-ranked automobile stocks worth considering. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Penske Automotive Group Inc. 's ( PAG ) fourth-quarter 2013 earnings improved 19.3% to 68 cents from 57 cents reported in the year-ago quarter. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Lithia Motors Inc. ( LAD ), AutoNation Inc. ( AN ) and Asbury Automotive Group, Inc. ( ABG ), all carrying Zacks Rank #2 (Buy), are some better-ranked automobile stocks worth considering. Revenues grew 15% year over year to $3.9 billion, surpassing the Zacks Consensus Estimate of $3.8 billion. | Lithia Motors Inc. ( LAD ), AutoNation Inc. ( AN ) and Asbury Automotive Group, Inc. ( ABG ), all carrying Zacks Rank #2 (Buy), are some better-ranked automobile stocks worth considering. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Penske Automotive Group Inc. 's ( PAG ) fourth-quarter 2013 earnings improved 19.3% to 68 cents from 57 cents reported in the year-ago quarter. |
28944.0 | 2014-02-04 00:00:00 UTC | Consumer Stocks Riding Strong Earnings Higher; Asbury Automotive Cruising in Late Trade, Gains 7% | ABG | https://www.nasdaq.com/articles/consumer-stocks-riding-strong-earnings-higher-asbury-automotive-cruising-late-trade-gains | nan | nan | Top Consumer Stocks
WMT +0.16%
MCD +0.09%
DIS +1.41%
CVS +0.49%
KO +0.78%
Consumer stocks were higher shortly before the closing bell with shares of consumer staples companies in the S&P 500 rising 0.6%. Shares of consumer discretionary firms in the S&P 500 are ahead nearly 1.2%.
In company news, Asbury Automotive ( ABG ) was finishing with a 7% gain, with shares of the auto-dealership chain rising after the company beat analyst expectations with its Q4 results.
ABG earned $0.88 per share, beating the Capital IQ consensus by $0.06. Revenue rose 12.7% year over year to $1.37 billion, exceeding the Street view by around $40 million.
Looking forward, the company said it expects the automotive retail environment will remain healthy in 2014 as more customers take advantage of the extremely attractive financing options.
Shares were up 7.2% in late trade at $49.10 apiece, rising as high as $51.35 earlier in today's session. The stock has a 52-week range of $31.89 to $55.82 a share.
In other sector news,
(+) KORS, Q3 EPS of $1.11 beats by $0.25. Revenue climbs 57.0% from last year to $1 bln, also topping estimates by $140 mln. Same-store sales rise 28%. Guides Q4 EPS in-line with Street, forecasting $0.63 to $0.65 profit; sees sales of $790 mln to $800 mln, topping estimates by at least $3.51 mln. Guides FY14 above estimates.
(-) CLX, Adjusted Q2 earnings of $0.90 per share, excluding $0.02 from higher tax rate, trails estimates by $0.01. Revenue climbs 0.4% year over year to $1.33 bln, or $20 mln better than estimates. Lowers FY14 EPS, revenue guidance under Street.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In company news, Asbury Automotive ( ABG ) was finishing with a 7% gain, with shares of the auto-dealership chain rising after the company beat analyst expectations with its Q4 results. ABG earned $0.88 per share, beating the Capital IQ consensus by $0.06. Looking forward, the company said it expects the automotive retail environment will remain healthy in 2014 as more customers take advantage of the extremely attractive financing options. | In company news, Asbury Automotive ( ABG ) was finishing with a 7% gain, with shares of the auto-dealership chain rising after the company beat analyst expectations with its Q4 results. ABG earned $0.88 per share, beating the Capital IQ consensus by $0.06. Revenue climbs 57.0% from last year to $1 bln, also topping estimates by $140 mln. | In company news, Asbury Automotive ( ABG ) was finishing with a 7% gain, with shares of the auto-dealership chain rising after the company beat analyst expectations with its Q4 results. ABG earned $0.88 per share, beating the Capital IQ consensus by $0.06. Consumer stocks were higher shortly before the closing bell with shares of consumer staples companies in the S&P 500 rising 0.6%. | In company news, Asbury Automotive ( ABG ) was finishing with a 7% gain, with shares of the auto-dealership chain rising after the company beat analyst expectations with its Q4 results. ABG earned $0.88 per share, beating the Capital IQ consensus by $0.06. Consumer stocks were higher shortly before the closing bell with shares of consumer staples companies in the S&P 500 rising 0.6%. |
28945.0 | 2014-02-04 00:00:00 UTC | Sector Update: Consumer | ABG | https://www.nasdaq.com/articles/sector-update-consumer-2014-02-04-0 | nan | nan | Consumer stocks were higher shortly before the closing bell with shares of consumer staples companies in the S&P 500 rising 0.6%. Shares of consumer discretionary firms in the S&P 500 were ahead nearly 1.2%.
In company news, Asbury Automotive ( ABG ) was finishing with a 7% gain, with shares of the auto-dealership chain rising after the company beat analyst expectations with its Q4 results.
ABG earned $0.88 per share, beating the Capital IQ consensus by $0.06. Revenue rose 12.7% year over year to $1.37 billion, exceeding the Street view by around $40 million.
Looking forward, the company said it expects the automotive retail environment will remain healthy in 2014 as more customers take advantage of the extremely attractive financing options.
Shares were up 7.2% in late trade at $49.10 apiece, rising as high as $51.35 earlier in today's session. The stock has a 52-week range of $31.89 to $55.82 a share.
In other sector news,
(+) KORS, Q3 EPS of $1.11 beats by $0.25. Revenue climbs 57.0% from last year to $1 bln, also topping estimates by $140 mln. Same-store sales rise 28%. Guides Q4 EPS in-line with Street, forecasting $0.63 to $0.65 profit; sees sales of $790 mln to $800 mln, topping estimates by at least $3.51 mln. Guides FY14 above estimates.
(-) CLX, Adjusted Q2 earnings of $0.90 per share, excluding $0.02 from higher tax rate, trails estimates by $0.01. Revenue climbs 0.4% year over year to $1.33 bln, or $20 mln better than estimates. Lowers FY14 EPS, revenue guidance under Street.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In company news, Asbury Automotive ( ABG ) was finishing with a 7% gain, with shares of the auto-dealership chain rising after the company beat analyst expectations with its Q4 results. ABG earned $0.88 per share, beating the Capital IQ consensus by $0.06. Looking forward, the company said it expects the automotive retail environment will remain healthy in 2014 as more customers take advantage of the extremely attractive financing options. | In company news, Asbury Automotive ( ABG ) was finishing with a 7% gain, with shares of the auto-dealership chain rising after the company beat analyst expectations with its Q4 results. ABG earned $0.88 per share, beating the Capital IQ consensus by $0.06. Revenue climbs 57.0% from last year to $1 bln, also topping estimates by $140 mln. | In company news, Asbury Automotive ( ABG ) was finishing with a 7% gain, with shares of the auto-dealership chain rising after the company beat analyst expectations with its Q4 results. ABG earned $0.88 per share, beating the Capital IQ consensus by $0.06. Consumer stocks were higher shortly before the closing bell with shares of consumer staples companies in the S&P 500 rising 0.6%. | In company news, Asbury Automotive ( ABG ) was finishing with a 7% gain, with shares of the auto-dealership chain rising after the company beat analyst expectations with its Q4 results. ABG earned $0.88 per share, beating the Capital IQ consensus by $0.06. Consumer stocks were higher shortly before the closing bell with shares of consumer staples companies in the S&P 500 rising 0.6%. |
28946.0 | 2014-01-28 00:00:00 UTC | Signet Jewelers (SIG) in Focus: Stock Moves 6.1% Higher - Tale of the Tape | ABG | https://www.nasdaq.com/articles/signet-jewelers-sig-in-focus%3A-stock-moves-6.1-higher-tale-of-the-tape-2014-01-28 | nan | nan | Signet Jewelers Ltd. ( SIG ) was a big mover last session, as the company saw its shares rise over 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up nearly 13% since Jan 13.
The company has seen seven negative revisions in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday's jump lasts.
Signet Jewelers currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
However, some better-ranked stocks in the retail wholesale sector include Advance Auto Parts Inc. ( AAP ), Asbury Automotive Group, Inc. ( ABG ) and Autobytel Inc. ( ABTL ). All these sport a Zacks Rank #1 (Strong Buy).
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ADVANCE AUTO PT (AAP): Free Stock Analysis Report
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTOBYTEL INC (ABTL): Free Stock Analysis Report
SIGNET JEWELERS (SIG): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | However, some better-ranked stocks in the retail wholesale sector include Advance Auto Parts Inc. ( AAP ), Asbury Automotive Group, Inc. ( ABG ) and Autobytel Inc. ( ABTL ). Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report SIGNET JEWELERS (SIG): Free Stock Analysis Report To read this article on Zacks.com click here. Signet Jewelers Ltd. ( SIG ) was a big mover last session, as the company saw its shares rise over 6% on the day. | However, some better-ranked stocks in the retail wholesale sector include Advance Auto Parts Inc. ( AAP ), Asbury Automotive Group, Inc. ( ABG ) and Autobytel Inc. ( ABTL ). Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report SIGNET JEWELERS (SIG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report SIGNET JEWELERS (SIG): Free Stock Analysis Report To read this article on Zacks.com click here. However, some better-ranked stocks in the retail wholesale sector include Advance Auto Parts Inc. ( AAP ), Asbury Automotive Group, Inc. ( ABG ) and Autobytel Inc. ( ABTL ). Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | However, some better-ranked stocks in the retail wholesale sector include Advance Auto Parts Inc. ( AAP ), Asbury Automotive Group, Inc. ( ABG ) and Autobytel Inc. ( ABTL ). Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report SIGNET JEWELERS (SIG): Free Stock Analysis Report To read this article on Zacks.com click here. Signet Jewelers Ltd. ( SIG ) was a big mover last session, as the company saw its shares rise over 6% on the day. |
28947.0 | 2014-01-27 00:00:00 UTC | Zacks #1 Rank Additions for Monday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-1-rank-additions-for-monday-tale-of-the-tape-2014-01-27 | nan | nan | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
American Software, Inc. ( AMSWA )
Asbury Automotive Group, Inc. ( ABG )
AU Optronics Corp. ( AUO )
Brocade Communications Systems, Inc. ( BRCD )
BT Group plc ( BT )
View the entire Zacks #1 Rank List .
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AMER SOFTWARE A (AMSWA): Get Free Report
AU OPTRONCS-ADR (AUO): Free Stock Analysis Report
BROCADE COMM SY (BRCD): Free Stock Analysis Report
BT GRP PLC-ADR (BT): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: American Software, Inc. ( AMSWA ) Asbury Automotive Group, Inc. ( ABG ) AU Optronics Corp. ( AUO ) Brocade Communications Systems, Inc. ( BRCD ) BT Group plc ( BT ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMER SOFTWARE A (AMSWA): Get Free Report AU OPTRONCS-ADR (AUO): Free Stock Analysis Report BROCADE COMM SY (BRCD): Free Stock Analysis Report BT GRP PLC-ADR (BT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: American Software, Inc. ( AMSWA ) Asbury Automotive Group, Inc. ( ABG ) AU Optronics Corp. ( AUO ) Brocade Communications Systems, Inc. ( BRCD ) BT Group plc ( BT ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMER SOFTWARE A (AMSWA): Get Free Report AU OPTRONCS-ADR (AUO): Free Stock Analysis Report BROCADE COMM SY (BRCD): Free Stock Analysis Report BT GRP PLC-ADR (BT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: American Software, Inc. ( AMSWA ) Asbury Automotive Group, Inc. ( ABG ) AU Optronics Corp. ( AUO ) Brocade Communications Systems, Inc. ( BRCD ) BT Group plc ( BT ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMER SOFTWARE A (AMSWA): Get Free Report AU OPTRONCS-ADR (AUO): Free Stock Analysis Report BROCADE COMM SY (BRCD): Free Stock Analysis Report BT GRP PLC-ADR (BT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: American Software, Inc. ( AMSWA ) Asbury Automotive Group, Inc. ( ABG ) AU Optronics Corp. ( AUO ) Brocade Communications Systems, Inc. ( BRCD ) BT Group plc ( BT ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMER SOFTWARE A (AMSWA): Get Free Report AU OPTRONCS-ADR (AUO): Free Stock Analysis Report BROCADE COMM SY (BRCD): Free Stock Analysis Report BT GRP PLC-ADR (BT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28948.0 | 2014-01-24 00:00:00 UTC | Etablissements Delhaize Fr (DEG) Jumps: Stock Rises 8.5% - Tale of the Tape | ABG | https://www.nasdaq.com/articles/etablissements-delhaize-fr-deg-jumps%3A-stock-rises-8.5-tale-of-the-tape-2014-01-24 | nan | nan | Etablissements Delhaize Fr ( DEG ) was a big mover last session, as the company saw its shares rise over 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up about 19% in the past one-month time frame.
The company has seen one negative revision in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday's jump can last.
Etablissements Delhaize currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.
Some other stocks in the retail wholesale sector that are worth a look include Advance Auto Parts Inc. ( AAP ), Asbury Automotive Group, Inc. ( ABG ) and Autobytel Inc. ( ABTL ). All these sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>
ADVANCE AUTO PT (AAP): Free Stock Analysis Report
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTOBYTEL INC (ABTL): Free Stock Analysis Report
DELHAIZE-LE (DEG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks in the retail wholesale sector that are worth a look include Advance Auto Parts Inc. ( AAP ), Asbury Automotive Group, Inc. ( ABG ) and Autobytel Inc. ( ABTL ). Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report DELHAIZE-LE (DEG): Free Stock Analysis Report To read this article on Zacks.com click here. Etablissements Delhaize Fr ( DEG ) was a big mover last session, as the company saw its shares rise over 8% on the day. | Some other stocks in the retail wholesale sector that are worth a look include Advance Auto Parts Inc. ( AAP ), Asbury Automotive Group, Inc. ( ABG ) and Autobytel Inc. ( ABTL ). Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report DELHAIZE-LE (DEG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report DELHAIZE-LE (DEG): Free Stock Analysis Report To read this article on Zacks.com click here. Some other stocks in the retail wholesale sector that are worth a look include Advance Auto Parts Inc. ( AAP ), Asbury Automotive Group, Inc. ( ABG ) and Autobytel Inc. ( ABTL ). The company has seen one negative revision in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. | Some other stocks in the retail wholesale sector that are worth a look include Advance Auto Parts Inc. ( AAP ), Asbury Automotive Group, Inc. ( ABG ) and Autobytel Inc. ( ABTL ). Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report DELHAIZE-LE (DEG): Free Stock Analysis Report To read this article on Zacks.com click here. Etablissements Delhaize Fr ( DEG ) was a big mover last session, as the company saw its shares rise over 8% on the day. |
28949.0 | 2014-01-15 00:00:00 UTC | AutoNation Pinned at Neutral - Analyst Blog | ABG | https://www.nasdaq.com/articles/autonation-pinned-at-neutral-analyst-blog-2014-01-15 | nan | nan | On Jan 10, we maintained our Neutral recommendation on AutoNation Inc. ( AN ) based on its improved performance in the third quarter of fiscal 2013. As the market revives, the company's optimal brand and market mix should boost new vehicle sales. AutoNation's effort to expand its dealer network should help it outperform peers. However, we are concerned about rising interest rates.
Why the Reiteration?
On Oct 24, 2013, AutoNation posted a 13.6% rise in earnings per share to 75 cents in the third quarter of fiscal 2013 from 66 cents in the same quarter of fiscal 2012. However, earnings per share missed the Zacks Consensus Estimate by 3 cents. This was the fourth straight quarter in which the company reported record high earnings.
Revenues increased 13.7% to $4.47 billion, in line with the Zacks Consensus Estimate. The revenue growth was attributable to strong performance in all business sectors. The company's Domestic segment was the biggest gainer in the quarter.
Following the release of third-quarter results, the Zacks Consensus Estimate for 2013 fell 1% to $2.94 per share. The Zacks Consensus Estimate for 2014 remained constant at $3.36 per share. Hence, AutoNation now carries a Zacks Rank #3 (Hold). Notably, some of its competitors in the auto retail industry include Group 1 Automotive Inc. ( GPI ) and Lithia Motors Inc. ( LAD ).
AutoNation will benefit from recovery in the auto market, backed by its optimal brand and market mix as well as a disciplined cost structure. In the first nine months of 2013, new vehicle unit sales increased 13.7%.
Rising average age of cars and trucks in the U.S., robust consumer credit environment and an increase in new product offerings from automotive manufacturers should lead to a strong selling environment. AutoNation expects that its new vehicle sales for 2013 will be in the mid-15 million units.
Moreover, AutoNation is poised to gain from its aggressive store expansion strategy. During the third quarter, AutoNation announced its decision to acquire O'Hare Honda and O'Hare Hyundai in Chicago. It is expected that these stores will generate annual revenues of $85 million with retail sales volume of 3,100 new and used vehicles.
AutoNation has acquired 12 franchises and was awarded 4 new franchises by some manufacturers during the last 5 quarters. The company expects roughly $1.1 billion in revenues from these stores once they are fully operational.
However, we are concerned about rising interest rates, as a significant amount of the company's debt carries variable rates, which will increase interest expenses as short-term interest rates increase.
Other Stocks That Warrant a Look
A better-placed stock in the industry in which AutoNation operates is AsburyAutomotive Group, Inc. ( ABG ), with a Zacks Rank #2 (Buy).
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTONATION INC (AN): Free Stock Analysis Report
GROUP 1 AUTO (GPI): Free Stock Analysis Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other Stocks That Warrant a Look A better-placed stock in the industry in which AutoNation operates is AsburyAutomotive Group, Inc. ( ABG ), with a Zacks Rank #2 (Buy). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. On Jan 10, we maintained our Neutral recommendation on AutoNation Inc. ( AN ) based on its improved performance in the third quarter of fiscal 2013. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Other Stocks That Warrant a Look A better-placed stock in the industry in which AutoNation operates is AsburyAutomotive Group, Inc. ( ABG ), with a Zacks Rank #2 (Buy). As the market revives, the company's optimal brand and market mix should boost new vehicle sales. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Other Stocks That Warrant a Look A better-placed stock in the industry in which AutoNation operates is AsburyAutomotive Group, Inc. ( ABG ), with a Zacks Rank #2 (Buy). On Oct 24, 2013, AutoNation posted a 13.6% rise in earnings per share to 75 cents in the third quarter of fiscal 2013 from 66 cents in the same quarter of fiscal 2012. | Other Stocks That Warrant a Look A better-placed stock in the industry in which AutoNation operates is AsburyAutomotive Group, Inc. ( ABG ), with a Zacks Rank #2 (Buy). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. However, earnings per share missed the Zacks Consensus Estimate by 3 cents. |
28950.0 | 2014-01-14 00:00:00 UTC | Zacks #1 Rank Additions for Tuesday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-1-rank-additions-for-tuesday-tale-of-the-tape-2014-01-14 | nan | nan | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
Activision Blizzard, Inc. ( ATVI )
American International Group Inc ( AIG )
Asbury Automotive Group, Inc. ( ABG )
Assured Guaranty Ltd. ( AGO )
Cardinal Health Inc ( CAH )
View the entire Zacks #1 Rank List .
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
ASSURED GUARNTY (AGO): Free Stock Analysis Report
AMER INTL GRP (AIG): Free Stock Analysis Report
ACTIVISION BLZD (ATVI): Free Stock Analysis Report
CARDINAL HEALTH (CAH): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Activision Blizzard, Inc. ( ATVI ) American International Group Inc ( AIG ) Asbury Automotive Group, Inc. ( ABG ) Assured Guaranty Ltd. ( AGO ) Cardinal Health Inc ( CAH ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASSURED GUARNTY (AGO): Free Stock Analysis Report AMER INTL GRP (AIG): Free Stock Analysis Report ACTIVISION BLZD (ATVI): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Activision Blizzard, Inc. ( ATVI ) American International Group Inc ( AIG ) Asbury Automotive Group, Inc. ( ABG ) Assured Guaranty Ltd. ( AGO ) Cardinal Health Inc ( CAH ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASSURED GUARNTY (AGO): Free Stock Analysis Report AMER INTL GRP (AIG): Free Stock Analysis Report ACTIVISION BLZD (ATVI): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Activision Blizzard, Inc. ( ATVI ) American International Group Inc ( AIG ) Asbury Automotive Group, Inc. ( ABG ) Assured Guaranty Ltd. ( AGO ) Cardinal Health Inc ( CAH ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASSURED GUARNTY (AGO): Free Stock Analysis Report AMER INTL GRP (AIG): Free Stock Analysis Report ACTIVISION BLZD (ATVI): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Activision Blizzard, Inc. ( ATVI ) American International Group Inc ( AIG ) Asbury Automotive Group, Inc. ( ABG ) Assured Guaranty Ltd. ( AGO ) Cardinal Health Inc ( CAH ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report ASSURED GUARNTY (AGO): Free Stock Analysis Report AMER INTL GRP (AIG): Free Stock Analysis Report ACTIVISION BLZD (ATVI): Free Stock Analysis Report CARDINAL HEALTH (CAH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28951.0 | 2013-11-01 00:00:00 UTC | Barrick Beats on Earnings, Halts Pascua-Lama Work - Analyst Blog | ABG | https://www.nasdaq.com/articles/barrick-beats-on-earnings-halts-pascua-lama-work-analyst-blog-2013-11-01 | nan | nan | Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) fell to 58 cents per share in the third quarter of 2013 from 88 cents in the year-ago quarter, but surpassed the Zacks Consensus Estimate of 50 cents.
On a reported basis, net earnings were $172 million or 17 cents per share, down roughly 73% from earnings of $649 million or 65 cents per share registered in the year-ago quarter. Lower realized gold and copper prices, higher interest expense and higher income tax expense led to the decline in earnings.
Revenues fell around 12% year over year to $2,985 million in the reported quarter but exceeded the Zacks Consensus Estimate of $2,973 million. Average realized price of gold decreased 20% year over year to $1,323 per ounce. All-in costs declined 16 % to $1,184 per ounce while all-in sustaining costs fell roughly 9% to $916 per ounce in the reported quarter.
Gold production rose to 1.85 million ounces in the quarter from 1.78 million ounces a year ago. Copper production increased to 139 million pounds from 112 million pounds in the prior-year quarter.
Separately, Barrick announced its plans to temporarily halt construction work at its Pascua-Lama mine in Chile. The company also announced its plans to raise up to $3.45 billion through a bought deal share offering in a bid to retire its debt.
Regional Results
North America: Barrick's North American unit produced 0.90 million ounces of gold in the quarter compared with 0.80 million ounces in the prior-year quarter. Average all-in sustaining costs (AISC) stood at $816 per ounce compared with $914 per ounce in the year-ago quarter. Production increased at the Pueblo Viejo mine, and came in at 0.11 million ounces in the quarter. The Cortez mine produced 0.33 million ounces due to lower grades and recoveries.
South America: Production from South America in the quarter was 0.33 million ounces compared with 0.39 million ounces in the year-ago quarter. AISC was $831 per ounce, up 14.8% from the year-ago quarter.
Australia Pacific: The region produced 0.50 million ounces in the quarter, compared with 0.48 million ounces in the year-ago quarter. AISC was $945 per ounce, down from $1,131 per ounce in the year-ago quarter.
African Barrick Gold plc. (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces, compared with 0.10 million ounces in the year-ago quarter. AISC was $1,275 per ounce in the quarter, up 25.4% year over year.
Financial Position
Cash and cash equivalents stood at $2,283 million as of Sep 30, 2013, down roughly 10% from $2,530 million as of Sep 30, 2012. Total debt was $15.4 billion, up around 11% from $13.9 billion a year ago. Adjusted operating cash flow was $1.3 billion versus $1.4 billion in the prior-year quarter.
Barrick has announced its plans to raise up to $3.45 billion through a bought deal share offering. The company will sell 163.5 million common shares for $18.35 per share, leading to gross proceeds of about $3 billion. With the over-allotment option for the sale of an additional 24.5 million shares, gross proceeds from the offering will be around $3.45 billion (or net proceeds of roughly $3.3 billion).
Barrick plans to use roughly $2.6 billion of the net proceeds from the offering to redeem or repurchase its outstanding debt, mostly focused on debt maturing in the short and medium term. It has roughly $1.3 billion of cumulative debt maturing through to the end of 2015.
Suspension of Pascua-Lama Mine
Barrick announced that it has temporarily suspended construction activities at the Pascua-Lama mine, barring the requisite activities for environmental protection and regulatory compliance. Earlier in the year, Chile's environmental regulator stopped construction on its side of the project, and imposed sanctions citing "serious violations" of its environmental permit.
Barrick stated that it will halt work in a manner that will allow efficient and effective re-start when conditions permit. The decision to re-start will depend on certain factors like improved project economics, outlook for metal prices, and reduced uncertainty associated with legal and other regulatory requirements.
The company further lowered its capital cost guidance for 2014 and expects it to be up to $1 billion.
Divestiture
During the quarter, the company sold Barrick Energy for total consideration of $435 million. Barrick also completed the sale of the Yilgarn South assets to Gold Fields Ltd. ( GFI ) for total consideration of $266 million.
Barrick continues to actively pursue other portfolio optimization opportunities, including the divestiture of other non-core assets.
Outlook
Barrick lowered its forecast for gold production and expects it to be at the low end of the original 7 -7.4 million ounce guidance range. The company's AISC are expected to be within the recently reduced guidance range of $900-$975 per ounce.
Barrick rasied full-year company-wide copper production guidance to between 520-550 million pounds from the previous expectation of 480-540 million pounds. Full-year C1 cash cost and C3 fully allocated cost guidance has been reduced to $1.90-$2.00 per pound and $2.40-$2.60 per pound, respectively.
For 2013, production for the North American region is maintained in the range of 3.55-3.70 million ounces. Full-year AISC are expected at the high end of the previous guidance range of $750-$800 per ounce. This estimate is attributed to higher costs at Pueblo Viejo due to lowering of silver by-product credits, the result of slower-than-expected ramp-up.
Production from South America is now expected at the high end of the original guidance range of 1.25-1.35 million ounces in 2013. Full-year AISC are anticipated to be at the low end of the original guidance range of $875-$925 per ounce.
Due to the sale of Yilgarn South, full-year production for Australia Pacific is expected to be at the low end of the original 1.70-1.85 million ounce guidance range. Full-year AISC are forecast to be at the bottom end of the previous guidance range of $1,100-$1,200 per ounce.
Barrick's share of production at African Barrick Gold is expected to exceed the top end of the original guidance range of 0.40-0.45 million ounces. Full-year AISC are expected to go beyond the low end of the original projected range of $1,550-$1,600 per ounce.
Barrick is planning to introduce a more streamlined operating model in order to maximize risk-adjusted returns and free cash flow by focusing on its most profitable productions. With regard to this, the company expects to eliminate about 1,850 positions, 85% of which has already been achieved.
Currently, Barrick retains a Zacks Rank #3 (Hold).
Other companies in the mining industry with a favorable Zacks Rank are Franco-Nevada Corporation ( FNV ) and Pretium Resources Inc. ( PVG ). Both carry a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces, compared with 0.10 million ounces in the year-ago quarter. The decision to re-start will depend on certain factors like improved project economics, outlook for metal prices, and reduced uncertainty associated with legal and other regulatory requirements. Due to the sale of Yilgarn South, full-year production for Australia Pacific is expected to be at the low end of the original 1.70-1.85 million ounce guidance range. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces, compared with 0.10 million ounces in the year-ago quarter. Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) fell to 58 cents per share in the third quarter of 2013 from 88 cents in the year-ago quarter, but surpassed the Zacks Consensus Estimate of 50 cents. Regional Results North America: Barrick's North American unit produced 0.90 million ounces of gold in the quarter compared with 0.80 million ounces in the prior-year quarter. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces, compared with 0.10 million ounces in the year-ago quarter. Regional Results North America: Barrick's North American unit produced 0.90 million ounces of gold in the quarter compared with 0.80 million ounces in the prior-year quarter. South America: Production from South America in the quarter was 0.33 million ounces compared with 0.39 million ounces in the year-ago quarter. | (ABG): Attributable production of African Barrick Gold in the quarter was 0.12 million ounces, compared with 0.10 million ounces in the year-ago quarter. Total debt was $15.4 billion, up around 11% from $13.9 billion a year ago. Barrick's share of production at African Barrick Gold is expected to exceed the top end of the original guidance range of 0.40-0.45 million ounces. |
28952.0 | 2013-10-25 00:00:00 UTC | Lithia Gains on Q3 Earnings Beat - Analyst Blog | ABG | https://www.nasdaq.com/articles/lithia-gains-on-q3-earnings-beat-analyst-blog-2013-10-25 | nan | nan | Lithia Motors Inc. 's ( LAD ) share price rose 2.1% to $64.66 on Oct 24 after the company posted a 27% increase in adjusted earnings per share to $1.13 in the third quarter of 2013 compared with 89 cents earned in the year-ago quarter. Reported earnings also beat the Zacks Consensus Estimate by 3 cents.
Adjusted net income augmented 28.1% to $29.6 million from $23.1 million in the year-ago quarter. Including a non-core tax benefit of $1.3 million or 5 cents per share, Lithia reported net income of $30.9 million or $1.18 per diluted share in the third quarter of 2013. The third quarter of 2012 did not incorporate any adjustments.
Revenues for the quarter increased 21.7% to $1.07 billion from $878.5 million in the year-ago quarter, marginally beating the Zacks Consensus Estimate of $1.05 million. The improvement in revenues was driven by better performance across all segments, with fleet and other business, and new vehicle and used vehicle sales being the bright spots.
Revenues from new vehicle sales improved 22.8% to $604.1 million in the quarter. New vehicle retail sales increased 22% to 18,109 units. Revenues per vehicle increased 0.7% to $33,361. On a same-store basis, revenues from new vehicle sales went up 15.8% to $569.7 million.
Revenues from used vehicle retail climbed 23.6% to $280.7 million in the quarter. Revenues from used vehicle wholesale went up 24% to $43.4 million. Used vehicle retail sales improved 17.3% to 15,496 units with revenues per vehicle increasing 5.4% to $18,117. Used vehicle wholesale sales improved 17.8% to 6,059 units and revenues per vehicle went up 5.2% to $7,162. Same-store revenues from used vehicle retail sales went up 16.9% to $265.7 million and used vehicle wholesale sales gained 17.9% to $41.4 million.
Revenues from service body and parts went up 9.8% to $97.8 million. Meanwhile, the company's finance and insurance business witnessed a 20.1% rise in revenues to $37.1 million. Revenues from Fleet and others went up 34.3% to $6.1 million.
Gross profit increased 16.1% to $165.4 million from $142.5 million in the year-ago quarter. Operating income improved 20.2% to $51.7 million from $43 million in the third quarter of 2012.
Financial Details
Lithia Motors had cash and cash equivalents of $16.1 million as of Sep 30, 2013, down from $42.8 million as of Dec 31, 2012. Total debt was $225.2 million as of Sep 30, 2013 compared with $295.1 million as of Dec 31, 2012.
In the first nine months of 2013, the company had an operating cash flow of $112.7 million compared with a cash outflow of $176.3 million in the corresponding period of 2012.
New Store information
On Oct 7, 2013, Lithia acquired Stockton Nissan Kia in Stockton, Calif. This store is expected to generate $45 million additional revenues annually. Including this, the company opened 5 stores in new locations in 2013. These new stores will help boost the company's new vehicle sales.
On Oct 24, 2013, Lithia announced the acquisition of Fresno Lincoln Volvo in Fresno, Calif. The company plans to relocate the Lincoln franchise to its Ford store and its Mazda franchise to the new location. This acquisition is expected to generate additional revenues of $15 million annually.
Outlook
Lithia Motors expects earnings in the range of 88 cents to 90 cents per share for the fourth quarter of 2013 and $3.90 to $3.92 for full year 2013. The company expects revenues between $3.9 billion and $4.0 billion for 2013, with a 16.6% increase in new vehicle same-store sales and a 17.2% rise in used vehicle same-store sales.
Same-store sales from service body and parts are expected to improve 6.3%. The company also expects capital expenditure of $55 million and a tax rate of 39.5% for 2013.
For 2014, Lithia expects earnings in the range of $4.15 to $4.25 per share with revenues between $4.3 billion and $4.4 billion.
Our Take
Lithia Motors is the ninth largest automotive retailer in the U.S. With 92 stores in 11 states, the company provides 27 new vehicle brands along with all brands of used vehicle. Currently, it retains a Zacks Rank #2 (Buy).
AutoNation Inc. ( AN ), another prominent automotive retailer in the U.S., posted a 13.6% rise in earnings per share to 75 cents in the third quarter compared with 66 cents in the same quarter of 2012. However, earnings per share missed the Zacks Consensus Estimate by 3 cents. Improvement in earnings per share was driven by better gross profit earned in all business sectors.
Revenues increased 13.7% to $4.47 billion, in line with the Zacks Consensus Estimate. The revenue growth was attributable to strong performance in all business sectors. The company's Domestic segment was the biggest gainer in the quarter.
Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ), both carrying a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ), both carrying a Zacks Rank #2 (Buy). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Lithia Motors Inc. 's ( LAD ) share price rose 2.1% to $64.66 on Oct 24 after the company posted a 27% increase in adjusted earnings per share to $1.13 in the third quarter of 2013 compared with 89 cents earned in the year-ago quarter. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ), both carrying a Zacks Rank #2 (Buy). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. The company expects revenues between $3.9 billion and $4.0 billion for 2013, with a 16.6% increase in new vehicle same-store sales and a 17.2% rise in used vehicle same-store sales. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ), both carrying a Zacks Rank #2 (Buy). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues for the quarter increased 21.7% to $1.07 billion from $878.5 million in the year-ago quarter, marginally beating the Zacks Consensus Estimate of $1.05 million. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ), both carrying a Zacks Rank #2 (Buy). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. The improvement in revenues was driven by better performance across all segments, with fleet and other business, and new vehicle and used vehicle sales being the bright spots. |
28953.0 | 2013-10-22 00:00:00 UTC | Sonic Automotive Misses Q3 Revenue Estimates - Analyst Blog | ABG | https://www.nasdaq.com/articles/sonic-automotive-misses-q3-revenue-estimates-analyst-blog-2013-10-22 | nan | nan | Sonic Automotive Inc. 's ( SAH ) total revenue for the third quarter of 2013 rose 5.4% to $2.24 billion. However, revenues marginally missed the Zacks Consensus Estimate of $2.29 billion. The year-over-year improvement in revenues was driven by solid performance by most business operations of the company.
Sonic Automotive recorded a tax gain in the reported quarter due to the expiry of its 5% Convertible Senior Notes in 2011 and 2012. The company is calculating the effects of this gain and will release the earnings per share and the net income of the third quarter of 2013 after the evaluation is complete. The Zacks Consensus Estimate for the third quarter earnings is 50 cents per share.
Of the total revenue, revenues from vehicle trade increased 5% to $1.9 billion. Meanwhile, revenues from parts, service and collision repair went up 7.8% to $309.6 million and from finance, insurance and other services grew 6.8% to $68.7 million.
Revenues from new vehicles retail escalated 5.5% to $1.3 billion. New vehicle retail unit sales increased 2.7% to 35,538 vehicles. New vehicle gross margins were 5.7% compared with 5.6% in the year-ago quarter.
Revenues from used vehicles retail rose 6% to $559.8 million. Used vehicle unit sales volume increased 3.8% to 27,632 vehicles. Gross margin improved to 7% from 6.7% in the year-ago period.
Overall gross margin was 14.5% in the quarter compared with 14.3% a year ago. Operating margin decreased to 2.6% from 2.7% a year ago.
Sonic Automotive completed the acquisition of Murray Mercedes Benz of Denver and Murray BMW of Denver in the third quarter of 2013. These acquisitions are expected to generate total annual revenue of around $200 million. These stores will support the existing platform of the company in Denver.
Charlotte, N.C. based Sonic Automotive is a Fortune 500 company. It is one of the largest automotive retailers in the U.S. The company currently operates 100 dealerships spread across 14 states and 25 major metropolitan markets. It represents about 25 different automotive brands with the majority of the dealerships being luxury and import brands.
Sonic Automotive increased the lower end of its full year 2013 earnings per share guidance from continuing operations to range between $1.96 and $2.03 from the earlier guidance of $1.93 and $2.03. The improved forecast was based on the expectation that earnings will lean toward the higher end of the guidance. Currently, SAH retains a Zacks Rank #2 (Buy).
Other stocks that are performing well in the automotive retail industry include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and AutoNation Inc. ( AN ). Asbury Automotive carries a Zacks Rank #1 (Strong Buy), while Lithia and AutoNation are Zacks Rank #2 (Buy) stocks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other stocks that are performing well in the automotive retail industry include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and AutoNation Inc. ( AN ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report To read this article on Zacks.com click here. The year-over-year improvement in revenues was driven by solid performance by most business operations of the company. | Other stocks that are performing well in the automotive retail industry include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and AutoNation Inc. ( AN ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive carries a Zacks Rank #1 (Strong Buy), while Lithia and AutoNation are Zacks Rank #2 (Buy) stocks. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report To read this article on Zacks.com click here. Other stocks that are performing well in the automotive retail industry include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and AutoNation Inc. ( AN ). Sonic Automotive Inc. 's ( SAH ) total revenue for the third quarter of 2013 rose 5.4% to $2.24 billion. | Other stocks that are performing well in the automotive retail industry include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and AutoNation Inc. ( AN ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report To read this article on Zacks.com click here. Sonic Automotive Inc. 's ( SAH ) total revenue for the third quarter of 2013 rose 5.4% to $2.24 billion. |
28954.0 | 2013-10-17 00:00:00 UTC | Advance Auto Parts (AAP) Worth Watching: Stock Adds 16.6% in Session - Analyst Blog | ABG | https://www.nasdaq.com/articles/advance-auto-parts-aap-worth-watching%3A-stock-adds-16.6-in-session-analyst-blog-2013-10-17 | nan | nan | Advance Auto Parts Inc. ( AAP ) was a big mover last session, as the company saw its shares surge by about 16.6% on the day. The move came on solid volume too with far more shares changed hands than in a normal session. This continues the recent uptrend for the company, as the stock has gained more than 20% in the past one-month time frame.
The company has seen no estimate revision in the past 2 months. Besides, its earnings consensus has remained stagnant over the same time frame. However, this recent price action is certainly encouraging, so make sure to keep a close watch of this firm in the near future.
AAP currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better performing retail/wholesale stocks include Asbury Automotive Group, Inc. ( ABG ), hhgregg, Inc. ( HGG ) and CarMax Inc. ( KMX ). While Asbury Automotive and hhgregg hold a Zacks Rank #1 (Strong Buy), CarMax carries a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better performing retail/wholesale stocks include Asbury Automotive Group, Inc. ( ABG ), hhgregg, Inc. ( HGG ) and CarMax Inc. ( KMX ). Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report HHGREGG INC (HGG): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report To read this article on Zacks.com click here. Advance Auto Parts Inc. ( AAP ) was a big mover last session, as the company saw its shares surge by about 16.6% on the day. | Some better performing retail/wholesale stocks include Asbury Automotive Group, Inc. ( ABG ), hhgregg, Inc. ( HGG ) and CarMax Inc. ( KMX ). Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report HHGREGG INC (HGG): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report To read this article on Zacks.com click here. While Asbury Automotive and hhgregg hold a Zacks Rank #1 (Strong Buy), CarMax carries a Zacks Rank #2 (Buy). | Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report HHGREGG INC (HGG): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report To read this article on Zacks.com click here. Some better performing retail/wholesale stocks include Asbury Automotive Group, Inc. ( ABG ), hhgregg, Inc. ( HGG ) and CarMax Inc. ( KMX ). While Asbury Automotive and hhgregg hold a Zacks Rank #1 (Strong Buy), CarMax carries a Zacks Rank #2 (Buy). | Some better performing retail/wholesale stocks include Asbury Automotive Group, Inc. ( ABG ), hhgregg, Inc. ( HGG ) and CarMax Inc. ( KMX ). Click to get this free report >> ADVANCE AUTO PT (AAP): Free Stock Analysis Report ASBURY AUTO GRP (ABG): Free Stock Analysis Report HHGREGG INC (HGG): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report To read this article on Zacks.com click here. Advance Auto Parts Inc. ( AAP ) was a big mover last session, as the company saw its shares surge by about 16.6% on the day. |
28955.0 | 2013-10-07 00:00:00 UTC | Consumer Stocks Still Adding to Earlier Losses; Ford Expanding Manufacturing Capabilities | ABG | https://www.nasdaq.com/articles/consumer-stocks-still-adding-earlier-losses-ford-expanding-manufacturing-capabilities-2013 | nan | nan | Top Consumer Stocks
WMT -1.02%
MCD -0.12%
DIS -0.81%
CVS +0.16%
KO -0.24%
Consumer stocks are mixed with shares of consumer staples companies in the S&P 500 now down just 0.2% while shares of consumer discretionary firms in the S&P 500 are down 1.2%.
In company news, Ford Motor Co ( F ) is down 1.3% at $16.86 a share and the automaker today announcing its largest manufacturing expansion in 50 years with eight new assembly plants and six new powertrain plants.
The company said it will increase its global flexible manufacturing to produce on average four different models at each plant depending on customer demand. F also anticipates 90% of its plants will be running on a three-shift or crew model by 2017, increasing production time more than 30%.
The announcements coincide with the 100th anniversary today of F starting production of its first moving assembly line, which soon became the standard for mass production and manufacturing efficiency.
In other sector news,
(+) FNP, Sells its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash.
(-) GWW, Credit Suisse lowers projected FY13 earnings by $0.02 to $11.80 per share while dropping its FY14 EPS forecast by $0.18 to $13.43 per share. The Street, on average, is looking for $11.79 and $13.48 per share, respectively.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In other sector news, (+) FNP, Sells its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. In company news, Ford Motor Co ( F ) is down 1.3% at $16.86 a share and the automaker today announcing its largest manufacturing expansion in 50 years with eight new assembly plants and six new powertrain plants. The company said it will increase its global flexible manufacturing to produce on average four different models at each plant depending on customer demand. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In other sector news, (+) FNP, Sells its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. Consumer stocks are mixed with shares of consumer staples companies in the S&P 500 now down just 0.2% while shares of consumer discretionary firms in the S&P 500 are down 1.2%. | In other sector news, (+) FNP, Sells its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. Consumer stocks are mixed with shares of consumer staples companies in the S&P 500 now down just 0.2% while shares of consumer discretionary firms in the S&P 500 are down 1.2%. In company news, Ford Motor Co ( F ) is down 1.3% at $16.86 a share and the automaker today announcing its largest manufacturing expansion in 50 years with eight new assembly plants and six new powertrain plants. | In other sector news, (+) FNP, Sells its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. Consumer stocks are mixed with shares of consumer staples companies in the S&P 500 now down just 0.2% while shares of consumer discretionary firms in the S&P 500 are down 1.2%. The company said it will increase its global flexible manufacturing to produce on average four different models at each plant depending on customer demand. |
28956.0 | 2013-10-07 00:00:00 UTC | Sector Update: Consumer | ABG | https://www.nasdaq.com/articles/sector-update-consumer-2013-10-07 | nan | nan | Consumer stocks are mixed with shares of consumer staples companies in the S&P 500 now down just 0.2% while shares of consumer discretionary firms in the S&P 500 are down 1.2%.
In company news, Ford Motor Co ( F ) is down 1.3% at $16.86 a share and the automaker today announcing its largest manufacturing expansion in 50 years with eight new assembly plants and six new powertrain plants.
The company said it will increase its global flexible manufacturing to produce on average four different models at each plant depending on customer demand. F also anticipates 90% of its plants will be running on a three-shift or crew model by 2017, increasing production time more than 30%.
The announcements coincide with the 100th anniversary today of F starting production of its first moving assembly line, which soon became the standard for mass production and manufacturing efficiency.
In other sector news,
(+) FNP, Sells its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash.
(-) GWW, Credit Suisse lowers projected FY13 earnings by $0.02 to $11.80 per share while dropping its FY14 EPS forecast by $0.18 to $13.43 per share. The Street, on average, is looking for $11.79 and $13.48 per share, respectively.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In other sector news, (+) FNP, Sells its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. In company news, Ford Motor Co ( F ) is down 1.3% at $16.86 a share and the automaker today announcing its largest manufacturing expansion in 50 years with eight new assembly plants and six new powertrain plants. The company said it will increase its global flexible manufacturing to produce on average four different models at each plant depending on customer demand. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In other sector news, (+) FNP, Sells its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. F also anticipates 90% of its plants will be running on a three-shift or crew model by 2017, increasing production time more than 30%. | In other sector news, (+) FNP, Sells its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. Consumer stocks are mixed with shares of consumer staples companies in the S&P 500 now down just 0.2% while shares of consumer discretionary firms in the S&P 500 are down 1.2%. In company news, Ford Motor Co ( F ) is down 1.3% at $16.86 a share and the automaker today announcing its largest manufacturing expansion in 50 years with eight new assembly plants and six new powertrain plants. | In other sector news, (+) FNP, Sells its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. Consumer stocks are mixed with shares of consumer staples companies in the S&P 500 now down just 0.2% while shares of consumer discretionary firms in the S&P 500 are down 1.2%. The company said it will increase its global flexible manufacturing to produce on average four different models at each plant depending on customer demand. |
28957.0 | 2013-10-07 00:00:00 UTC | Shares of Consumer Staples Firms Paring Earlier Losses, Now Nearly Even for Session | ABG | https://www.nasdaq.com/articles/shares-consumer-staples-firms-paring-earlier-losses-now-nearly-even-session-2013-10-07 | nan | nan | Top Consumer Stocks
WMT -0.98%
MCD -0.10%
DIS -0.84%
CVS +0.21%
KO 0.00%
Consumer stocks are mixed, with shares of consumer staples companies in the S&P 500 down just 0.1% while shares of consumer discretionary firms in the S&P 500 are down 1.0%.
In company news, Fifth & Pacific Companies ( FNP ) is up 5.4% at $25.87 a share, just 5 cents off its intra-day high after the apparel designer Monday said it has sold its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash.
FNP, formerly Liz Claiborne Inc., also entered into a short-term licensing agreement with ABG allowing it to transition the business in an orderly fashion through the first half of 2014, with a $10 million minimum royalty guaranteed to Authentic Brands.
ABG shares are down 0.2% at $54.97 each, also holding within close range of its best levels of the session.
In other sector news,
(+) TOL, (+0.8%) Homebuilder shakes off any perceived ill effect of a Goldman Sachs downgrade to Neutral from Buy, with the research shop citing valuation and greater likely appreciation in the share prices of its peers.
(-) GWW, (-1.1%) Credit Suisse lowers projected FY13 earnings by $0.02 to $11.80 per share while dropping its FY14 EPS forecast by $0.18 to $13.43 per share. The Street, on average, is at $11.79 and $13.48, respectively.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In company news, Fifth & Pacific Companies ( FNP ) is up 5.4% at $25.87 a share, just 5 cents off its intra-day high after the apparel designer Monday said it has sold its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. FNP, formerly Liz Claiborne Inc., also entered into a short-term licensing agreement with ABG allowing it to transition the business in an orderly fashion through the first half of 2014, with a $10 million minimum royalty guaranteed to Authentic Brands. ABG shares are down 0.2% at $54.97 each, also holding within close range of its best levels of the session. | In company news, Fifth & Pacific Companies ( FNP ) is up 5.4% at $25.87 a share, just 5 cents off its intra-day high after the apparel designer Monday said it has sold its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. FNP, formerly Liz Claiborne Inc., also entered into a short-term licensing agreement with ABG allowing it to transition the business in an orderly fashion through the first half of 2014, with a $10 million minimum royalty guaranteed to Authentic Brands. | In company news, Fifth & Pacific Companies ( FNP ) is up 5.4% at $25.87 a share, just 5 cents off its intra-day high after the apparel designer Monday said it has sold its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. FNP, formerly Liz Claiborne Inc., also entered into a short-term licensing agreement with ABG allowing it to transition the business in an orderly fashion through the first half of 2014, with a $10 million minimum royalty guaranteed to Authentic Brands. ABG shares are down 0.2% at $54.97 each, also holding within close range of its best levels of the session. | In company news, Fifth & Pacific Companies ( FNP ) is up 5.4% at $25.87 a share, just 5 cents off its intra-day high after the apparel designer Monday said it has sold its Juicy Couture brand line to Authentic Brands Group ( ABG ) for $195 million in cash. ABG shares are down 0.2% at $54.97 each, also holding within close range of its best levels of the session. FNP, formerly Liz Claiborne Inc., also entered into a short-term licensing agreement with ABG allowing it to transition the business in an orderly fashion through the first half of 2014, with a $10 million minimum royalty guaranteed to Authentic Brands. |
28958.0 | 2013-10-04 00:00:00 UTC | Zacks #1 Rank Additions for Friday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-1-rank-additions-for-friday-tale-of-the-tape-2013-10-04 | nan | nan | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
Akorn, Inc. ( AKRX )
Alamo Group, Inc. ( ALG )
Asbury Automotive Group, Inc. ( ABG )
Atmel Corporation ( ATML )
Autobytel Inc. ( ABTL )
View the entire Zacks #1 Rank List .
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTOBYTEL INC (ABTL): Free Stock Analysis Report
AKORN INC (AKRX): Free Stock Analysis Report
ALAMO GROUP INC (ALG): Free Stock Analysis Report
ATMEL CORP (ATML): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Akorn, Inc. ( AKRX ) Alamo Group, Inc. ( ALG ) Asbury Automotive Group, Inc. ( ABG ) Atmel Corporation ( ATML ) Autobytel Inc. ( ABTL ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report AKORN INC (AKRX): Free Stock Analysis Report ALAMO GROUP INC (ALG): Free Stock Analysis Report ATMEL CORP (ATML): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Akorn, Inc. ( AKRX ) Alamo Group, Inc. ( ALG ) Asbury Automotive Group, Inc. ( ABG ) Atmel Corporation ( ATML ) Autobytel Inc. ( ABTL ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report AKORN INC (AKRX): Free Stock Analysis Report ALAMO GROUP INC (ALG): Free Stock Analysis Report ATMEL CORP (ATML): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Akorn, Inc. ( AKRX ) Alamo Group, Inc. ( ALG ) Asbury Automotive Group, Inc. ( ABG ) Atmel Corporation ( ATML ) Autobytel Inc. ( ABTL ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report AKORN INC (AKRX): Free Stock Analysis Report ALAMO GROUP INC (ALG): Free Stock Analysis Report ATMEL CORP (ATML): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Akorn, Inc. ( AKRX ) Alamo Group, Inc. ( ALG ) Asbury Automotive Group, Inc. ( ABG ) Atmel Corporation ( ATML ) Autobytel Inc. ( ABTL ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTOBYTEL INC (ABTL): Free Stock Analysis Report AKORN INC (AKRX): Free Stock Analysis Report ALAMO GROUP INC (ALG): Free Stock Analysis Report ATMEL CORP (ATML): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28959.0 | 2013-09-30 00:00:00 UTC | Zacks #1 Rank Additions for Monday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-1-rank-additions-for-monday-tale-of-the-tape-2013-09-30 | nan | nan | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
Asbury Automotive Group, Inc. ( ABG )
Consolidated Graphics, Inc. ( CGX )
CubeSmart ( CUBE )
Infoblox Inc. ( BLOX )
Nu Skin Enterprises, Inc. ( NUS )
View the entire Zacks #1 Rank List .
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
INFOBLOX INC (BLOX): Free Stock Analysis Report
CONSOL GRAPHICS (CGX): Free Stock Analysis Report
CUBESMART (CUBE): Free Stock Analysis Report
NU SKIN ENTERP (NUS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Asbury Automotive Group, Inc. ( ABG ) Consolidated Graphics, Inc. ( CGX ) CubeSmart ( CUBE ) Infoblox Inc. ( BLOX ) Nu Skin Enterprises, Inc. ( NUS ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report INFOBLOX INC (BLOX): Free Stock Analysis Report CONSOL GRAPHICS (CGX): Free Stock Analysis Report CUBESMART (CUBE): Free Stock Analysis Report NU SKIN ENTERP (NUS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Asbury Automotive Group, Inc. ( ABG ) Consolidated Graphics, Inc. ( CGX ) CubeSmart ( CUBE ) Infoblox Inc. ( BLOX ) Nu Skin Enterprises, Inc. ( NUS ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report INFOBLOX INC (BLOX): Free Stock Analysis Report CONSOL GRAPHICS (CGX): Free Stock Analysis Report CUBESMART (CUBE): Free Stock Analysis Report NU SKIN ENTERP (NUS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report INFOBLOX INC (BLOX): Free Stock Analysis Report CONSOL GRAPHICS (CGX): Free Stock Analysis Report CUBESMART (CUBE): Free Stock Analysis Report NU SKIN ENTERP (NUS): Free Stock Analysis Report To read this article on Zacks.com click here. Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Asbury Automotive Group, Inc. ( ABG ) Consolidated Graphics, Inc. ( CGX ) CubeSmart ( CUBE ) Infoblox Inc. ( BLOX ) Nu Skin Enterprises, Inc. ( NUS ) View the entire Zacks #1 Rank List . Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Asbury Automotive Group, Inc. ( ABG ) Consolidated Graphics, Inc. ( CGX ) CubeSmart ( CUBE ) Infoblox Inc. ( BLOX ) Nu Skin Enterprises, Inc. ( NUS ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report INFOBLOX INC (BLOX): Free Stock Analysis Report CONSOL GRAPHICS (CGX): Free Stock Analysis Report CUBESMART (CUBE): Free Stock Analysis Report NU SKIN ENTERP (NUS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28960.0 | 2013-09-30 00:00:00 UTC | Sector Update: Consumer Shares Lower With Broader Market, Weighed By Potential Government Shutdown | ABG | https://www.nasdaq.com/articles/sector-update-consumer-shares-lower-broader-market-weighed-potential-government-shutdown | nan | nan | Top Consumer Shares:
WMT: -0.01%
MCD: +0.10%
DIS: -0.77%
CVS: -0.52%
KO: -0.42%
GE: -0.79%
Consumer shares are lower in pre-bell trading along with the broader stock market, which is weighed by concerns over a government shutdown.
Cal-Maine Foods Inc. ( CALM ) reported Q1 2014 diluted EPS of $0.36, on revenues of $319.5 million. Analysts polled by Capital IQ had expected EPS of $0.49 and revenues of $297 million. Year-ago diluted EPS was $0.39, on revenues of $272.9 million.
The company will be paying a cash dividend of $0.068 per share on November 14, 2013, to shareholders of record on October 30, 2013. CALM is steady at $48.91.
And, Asbury Automotive ( ABG ) said it has entered a real estate term loan facility of up to $75 million with Bank of America.
The new term loan bears interest at one-month LIBOR plus 250 basis points and matures on Sept. 26, 2023. The proceeds from the new term loan are expected to be used to refinance a portion of the outstanding 7.625% senior subordinated notes due 2017.
ABG closed down 0.04% on Friday. It is trading at the top end of the 52-week range of $27.46 and $54.39.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | And, Asbury Automotive ( ABG ) said it has entered a real estate term loan facility of up to $75 million with Bank of America. ABG closed down 0.04% on Friday. Consumer shares are lower in pre-bell trading along with the broader stock market, which is weighed by concerns over a government shutdown. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And, Asbury Automotive ( ABG ) said it has entered a real estate term loan facility of up to $75 million with Bank of America. ABG closed down 0.04% on Friday. | And, Asbury Automotive ( ABG ) said it has entered a real estate term loan facility of up to $75 million with Bank of America. ABG closed down 0.04% on Friday. Consumer shares are lower in pre-bell trading along with the broader stock market, which is weighed by concerns over a government shutdown. | And, Asbury Automotive ( ABG ) said it has entered a real estate term loan facility of up to $75 million with Bank of America. ABG closed down 0.04% on Friday. Top Consumer Shares: |
28961.0 | 2013-09-30 00:00:00 UTC | Sector Update: Consumer | ABG | https://www.nasdaq.com/articles/sector-update-consumer-2013-09-30 | nan | nan | Consumer shares are lower in pre-bell trading along with the broader stock market, which is weighed by concerns over a government shutdown.
Cal-Maine Foods Inc. ( CALM ) reported Q1 2014 diluted EPS of $0.36, on revenues of $319.5 million. Analysts polled by Capital IQ had expected EPS of $0.49 and revenues of $297 million. Year-ago diluted EPS was $0.39, on revenues of $272.9 million.
The company will be paying a cash dividend of $0.068 per share on November 14, 2013, to shareholders of record on October 30, 2013. CALM is steady at $48.91.
And, Asbury Automotive ( ABG ) said it has entered a real estate term loan facility of up to $75 million with Bank of America.
The new term loan bears interest at one-month LIBOR plus 250 basis points and matures on Sept. 26, 2023. The proceeds from the new term loan are expected to be used to refinance a portion of the outstanding 7.625% senior subordinated notes due 2017.
ABG closed down 0.04% on Friday. It is trading at the top end of the 52-week range of $27.46 and $54.39.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | And, Asbury Automotive ( ABG ) said it has entered a real estate term loan facility of up to $75 million with Bank of America. ABG closed down 0.04% on Friday. Consumer shares are lower in pre-bell trading along with the broader stock market, which is weighed by concerns over a government shutdown. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And, Asbury Automotive ( ABG ) said it has entered a real estate term loan facility of up to $75 million with Bank of America. ABG closed down 0.04% on Friday. | And, Asbury Automotive ( ABG ) said it has entered a real estate term loan facility of up to $75 million with Bank of America. ABG closed down 0.04% on Friday. Consumer shares are lower in pre-bell trading along with the broader stock market, which is weighed by concerns over a government shutdown. | And, Asbury Automotive ( ABG ) said it has entered a real estate term loan facility of up to $75 million with Bank of America. ABG closed down 0.04% on Friday. Cal-Maine Foods Inc. ( CALM ) reported Q1 2014 diluted EPS of $0.36, on revenues of $319.5 million. |
28962.0 | 2013-09-25 00:00:00 UTC | Zacks #1 Rank Additions for Wednesday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-1-rank-additions-for-wednesday-tale-of-the-tape-2013-09-25 | nan | nan | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
Asbury Automotive Group, Inc. ( ABG )
Capital One Financial Corp. ( COF )
Cincinnati Financial Corporation ( CRUS )
EnPro Industries, Inc. ( NPO )
Federal Signal Corporation ( FSS )
View the entire Zacks #1 Rank List .
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
CAPITAL ONE FIN (COF): Free Stock Analysis Report
CIRRUS LOGIC (CRUS): Free Stock Analysis Report
FED SIGNAL CP (FSS): Free Stock Analysis Report
ENPRO INDUS INC (NPO): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Asbury Automotive Group, Inc. ( ABG ) Capital One Financial Corp. ( COF ) Cincinnati Financial Corporation ( CRUS ) EnPro Industries, Inc. ( NPO ) Federal Signal Corporation ( FSS ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report CAPITAL ONE FIN (COF): Free Stock Analysis Report CIRRUS LOGIC (CRUS): Free Stock Analysis Report FED SIGNAL CP (FSS): Free Stock Analysis Report ENPRO INDUS INC (NPO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Asbury Automotive Group, Inc. ( ABG ) Capital One Financial Corp. ( COF ) Cincinnati Financial Corporation ( CRUS ) EnPro Industries, Inc. ( NPO ) Federal Signal Corporation ( FSS ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report CAPITAL ONE FIN (COF): Free Stock Analysis Report CIRRUS LOGIC (CRUS): Free Stock Analysis Report FED SIGNAL CP (FSS): Free Stock Analysis Report ENPRO INDUS INC (NPO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Asbury Automotive Group, Inc. ( ABG ) Capital One Financial Corp. ( COF ) Cincinnati Financial Corporation ( CRUS ) EnPro Industries, Inc. ( NPO ) Federal Signal Corporation ( FSS ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report CAPITAL ONE FIN (COF): Free Stock Analysis Report CIRRUS LOGIC (CRUS): Free Stock Analysis Report FED SIGNAL CP (FSS): Free Stock Analysis Report ENPRO INDUS INC (NPO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Asbury Automotive Group, Inc. ( ABG ) Capital One Financial Corp. ( COF ) Cincinnati Financial Corporation ( CRUS ) EnPro Industries, Inc. ( NPO ) Federal Signal Corporation ( FSS ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report CAPITAL ONE FIN (COF): Free Stock Analysis Report CIRRUS LOGIC (CRUS): Free Stock Analysis Report FED SIGNAL CP (FSS): Free Stock Analysis Report ENPRO INDUS INC (NPO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28963.0 | 2013-09-13 00:00:00 UTC | Penske Automotive Raised to Outperform - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-automotive-raised-to-outperform-analyst-blog-2013-09-13 | nan | nan | On Sep 11, 2013, we upgraded automotive retailer Penske Automotive Group, Inc. ( PAG ) to Outperform from Neutral based on the recent acquisition of Western Star Trucks, which is expected to boost earnings. Moreover, this Zacks Rank #1 (Strong Buy) stock is witnessing rising sales of new vehicles and has a strong financial position and cash flow.
Why the Upgrade?
Penske Automotive reported positive earnings surprise in the last 4 quarters with an average beat of 5.91%. On Jul 31, 2013, the company posted a 26.8% year over year increase in earnings per share to 71 cents in the second quarter of 2013. The results also exceeded the Zacks Consensus Estimate by 6 cents.
Revenues of Penske Automotive improved 11.6% year over year to $3.7 billion, beating the Zacks Consensus Estimate of $3.6 billion. The rise in revenues was driven by a 14.1% increase in retail sales to 93,639 units, including a 12.3% increase in retail sales to 91,145 units on a same-store basis.
Since then, the Zacks Consensus Estimate for Penske Automotive's 2013 earnings has increased 3.9% to $2.65 per share, up 16.4% over 2012. Even the Zacks Consensus Estimate for the company's 2014 earnings per share increased 5.2% over the last 60 days to $3.01.
Penske Automotive has been benefiting from the increase in sales of new vehicles over the past few years. During the first half of 2013, unit sales rose 10.6% to 97,270 units.
Moreover, Penske Automotive has a strong financial position, good cash flow generation, and strong automotive retail environment in the U.S. and U.K. markets. Further, the company recently acquired Western Star Trucks Australia Pty Ltd., which is among the top three names in heavy duty trucks in Australia. It has affiliation with Daimler Trucks North America of Daimler AG ( DDAIF ). The acquisition is expected to generate annualized pro forma income of 10 cents to 14 cents per share for Penske Automotive.
Other Stocks to Consider
Other stocks worth considering in the industry include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). Both these companies carry a Zacks Rank #1 (Strong Buy).
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
DAIMLER AG (DDAIF): Get Free Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
PENSKE AUTO GRP (PAG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other Stocks to Consider Other stocks worth considering in the industry include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Penske Automotive reported positive earnings surprise in the last 4 quarters with an average beat of 5.91%. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Other Stocks to Consider Other stocks worth considering in the industry include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). Moreover, this Zacks Rank #1 (Strong Buy) stock is witnessing rising sales of new vehicles and has a strong financial position and cash flow. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Other Stocks to Consider Other stocks worth considering in the industry include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). On Sep 11, 2013, we upgraded automotive retailer Penske Automotive Group, Inc. ( PAG ) to Outperform from Neutral based on the recent acquisition of Western Star Trucks, which is expected to boost earnings. | Other Stocks to Consider Other stocks worth considering in the industry include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. On Sep 11, 2013, we upgraded automotive retailer Penske Automotive Group, Inc. ( PAG ) to Outperform from Neutral based on the recent acquisition of Western Star Trucks, which is expected to boost earnings. |
28964.0 | 2013-09-03 00:00:00 UTC | Penske Seals Western Star Deal - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-seals-western-star-deal-analyst-blog-2013-09-03 | nan | nan | Almost a month after the announcement, Penske Automotive Group, Inc. ( PAG ) completed the acquisition of Western Star Trucks Australia Pty Ltd. from Australia-based Transpacific Industries Group Limited last week. Western Star distributes commercial vehicles, their spare parts and aftermarket support in Australia, New Zealand and some parts of Southeast Asia.
Penske paid $200 million of purchase consideration from cash flow from operations and borrowings under its credit and floorplan financing facilities. The consideration includes $67 million for target working capital required for vehicle inventory, parts and other assets. However, the amount is subject to a closing adjustment, which is expected to be finalized within this month.
Penske revealed that its third-quarter 2013 results will likely include acquisition related costs of 2 cents a share. However, excluding this cost, the company projects an annualized proforma income of 10-14 cents per share from the acquisition.
Western Star is among the top three names in heavy duty trucks in Australia. It has affiliation with Daimler Trucks North America of Daimler AG ( DDAIF ). The company has a big and established dealer network in Australia and New Zealand and offers growth opportunities to Penske.
While Penske will take over Western Star, the latter will be managed by its existing management team. Though the acquisition is expected to add to the company's revenues and earnings, rising competition is likely to put pressure on the margins.
Penske faces tough competition from other franchised automotive dealerships, private market buyers and sellers of used vehicles, Internet-based vehicle brokers, national and local service and repair shops and parts retailers and automotive manufacturers. Rising competition together with increasing price transparency will lead to lower selling prices and act as headwinds for the company.
Penske currently carries a Zacks Rank #1 (Strong Buy). Other companies worth considering in the same industry are Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). Both these companies carry a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other companies worth considering in the same industry are Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Penske paid $200 million of purchase consideration from cash flow from operations and borrowings under its credit and floorplan financing facilities. | Other companies worth considering in the same industry are Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Almost a month after the announcement, Penske Automotive Group, Inc. ( PAG ) completed the acquisition of Western Star Trucks Australia Pty Ltd. from Australia-based Transpacific Industries Group Limited last week. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Other companies worth considering in the same industry are Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). Almost a month after the announcement, Penske Automotive Group, Inc. ( PAG ) completed the acquisition of Western Star Trucks Australia Pty Ltd. from Australia-based Transpacific Industries Group Limited last week. | Other companies worth considering in the same industry are Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report DAIMLER AG (DDAIF): Get Free Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Western Star distributes commercial vehicles, their spare parts and aftermarket support in Australia, New Zealand and some parts of Southeast Asia. |
28965.0 | 2013-08-07 00:00:00 UTC | Penske Q2 Earnings & Revs Beat Estimates - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-q2-earnings-revs-beat-estimates-analyst-blog-2013-08-07 | nan | nan | Penske Automotive Group Inc. ( PAG ) posted a 26.8% increase in earnings per share to 71 cents in the second quarter of 2013 from 56 cents in the corresponding quarter last year. The results also exceeded the Zacks Consensus Estimate by 6 cents. Net profits increased 27.4% to $64 million in the quarter from $50.2 million a year ago.
Revenues improved 11.6% year over year to $3.7 billion, beating the Zacks Consensus Estimate of $3.6 billion. Same-store retail revenues rose 11.5% to $3.4 billion. The year-over-year rise in revenues was driven by a 14.1% increase in retail sales to 93,639 units, including a 12.3% increase in retail sales to 91,145 units on a same-store basis. Sales went up 14.3% in the U.S. and 13.9% internationally.
New Vehicle revenues went up 12.7% to $1.9 billion on an 11.6% rise in sales to 51,307 units. Used Vehicle revenues rose 15.5% to $1.1 billion based on a 17.4% increase in sales to 42,332 units. Revenues in the Service and Parts segment rose 8.1% to $391.6 million.
Revenues in the Fleet and Wholesale Vehicle segment decreased 10.5% to $199.4 million, while revenues from Finance and Insurance segment rose 17.9% to $95.8 million.
Gross profits improved 12.7% to $569 million from $505 million in the second quarter of 2012. Operating profit augmented 24.9% to $113.7 million from $91.0 million a year ago.
Financial Position
Penske had cash and cash equivalents of $26.3 million as of Jun 30, 2013, a decrease from $43.4 million as of Dec 31, 2012. Long-term debt amounted to $920.2 million as of Jun 30, 2013, down from $937.5 million as of Dec 31, 2012. Long-term debt to capitalization ratio was 40.4% as of Jun 30, 2013 versus 41.6% as of Dec 31, 2012.
Acquisitions
Penske announced that it will be acquiring the Western Star Trucks Australia business, which is a distributor of commercial vehicles, related spare parts and aftermarket across Australia and New Zealand and portions of Southeast Asia from Transpacific Industries Group Limited. The acquisition is expected to complete in the third quarter of 2013.
After the completion, it is expected to generate revenues of $420-$460 million and enhance earnings per share by 10 cents to 14 cents annually. However, the company has to incur charges of 2 cents per share for acquisition related costs in the third quarter of 2013.
Our Take
Penske Automotive Group sells new and previously-owned vehicles along with finance and insurance products. It operates 324 retail automotive franchises, offering 39 different brands and 30 collision repair centers. Apart from its franchises in the U.S. and Europe, the company offers repair and maintenance services. Currently, it retains a Zacks Rank #3 (Hold).
Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and Group 1 Automotive Inc. ( GPI ). Asbury and Lithia are Zacks Rank #1 (Strong Buy) stocks while Group 1 carries a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Acquisitions Penske announced that it will be acquiring the Western Star Trucks Australia business, which is a distributor of commercial vehicles, related spare parts and aftermarket across Australia and New Zealand and portions of Southeast Asia from Transpacific Industries Group Limited. | Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues in the Fleet and Wholesale Vehicle segment decreased 10.5% to $199.4 million, while revenues from Finance and Insurance segment rose 17.9% to $95.8 million. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and Group 1 Automotive Inc. ( GPI ). Penske Automotive Group Inc. ( PAG ) posted a 26.8% increase in earnings per share to 71 cents in the second quarter of 2013 from 56 cents in the corresponding quarter last year. | Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Penske Automotive Group Inc. ( PAG ) posted a 26.8% increase in earnings per share to 71 cents in the second quarter of 2013 from 56 cents in the corresponding quarter last year. |
28966.0 | 2013-08-05 00:00:00 UTC | 4 Big Winners this Earnings Season - Investment Ideas | ABG | https://www.nasdaq.com/articles/4-big-winners-earnings-season-investment-ideas-2013-08-05 | nan | nan | Second quarter earnings season is in the home stretch with results in from about 80% of the companies in the S&P 500. From a 'beat/miss' perspective, this earnings season looks just fine.
Approximately two-thirds of companies (67%) have delivered positive earnings surprises this quarter, which is firmly in-line with recent quarters. Finance has been one of the strongest sectors, but even if you back that sector out, the beat ratio is still a respectable 65%. However, earnings growth has been less impressive. Excluding Finance, earnings have fallen -3.9% year-over-year.
While earnings surprises may garner most of the attention, I'm much more impressed by a company that beats on both the bottom line and the top line. That's because earnings can often be "massaged" by management to clear the quarterly hurdle set by Wall Street. But revenue is generally much less susceptible (although not immune) to manipulation.
So far in Q2, 53% of companies have beaten expectations on the top-line, or 51% excluding Finance. While that is well below the historical average, it is actually a bit better than the recent average.
The Triple Play
Positive revenue and earnings surprises are great, but if management guidance is weak and/or if analysts still revise their earnings estimates lower, a stock can still be punished. The true winners from earnings season are those who can deliver the coveted "Triple Play":
A positive earnings surprise
A positive revenue surprise, and
Significant positive earnings estimate revisions
And as the well-documented "post-earnings announcement drift" shows, these blow out quarters are often handsomely rewarded by the market for several weeks after a company reports.
4 Triple Plays
So which companies have delivered the "Triple Play" this earnings season? I ran a screen in Research Wizard, and here are 4 of the top companies from the list:
Facebook ( FB )
EPS Surprise: +44%
Revenue Surprise: +12%
4-Week Change in 2013 Consensus: +31%
4-Week Change in 2014 Consensus: +22%
With over 1.1 billion active monthly users, Facebook is the largest social networking site in the world. The company reported significantly better-than-expected second quarter earnings on July 24, prompting analysts to revise their estimates much higher for both 2013 and 2014. It is a Zacks Rank #2 (Buy) stock.
Asbury Automotive Group ( ABG )
EPS Surprise: +21%
Revenue Surprise: +4%
4-Week Change in 2013 Consensus: +8%
4-Week Change in 2014 Consensus: +10%
Asbury Automotive Group is one of the largest automotive retailers in the U.S. with 77 retail auto stores. Over 85% of its sales are from import brands. Asbury reported its 7th consecutive positive earnings surprise on July 23. It is a Zacks Rank #1 (Strong Buy) stock.
Meritage Homes ( MTH )
EPS Surprise: +61%
Revenue Surprise: +10%
4-Week Change in 2013 Consensus: +21%
4-Week Change in 2014 Consensus: +6%
Meritage Homes is a homebuilder that operates in the Western, Southern and Southeastern United States. The company crushed second quarter estimates on July 24, prompting a flurry of positive estimate revisions from analysts. It is a Zacks Rank #2 (Buy) stock.
E*TRADE Financial ( ETFC )
EPS Surprise: +62%
Revenue Surprise: +4%
4-Week Change in 2013 Consensus: +25%
4-Week Change in 2014 Consensus: +20%
E*TRADE Financial provides financial services including online brokerage and related banking products and services to retail investors. Analysts have revised their estimates significantly higher for the company after it delivered a big second quarter beat on July 24. It is a Zacks Rank #2 (Buy) stock.
The Bottom Line
Second quarter earnings season may not be that great overall, but these four companies each reported outstanding quarters and are well-positioned to run higher over the coming weeks.
Todd Bunton is the Growth & Income Stock Strategist for Zacks Investment Research and Editor of the Income Plus Investor service .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group ( ABG ) EPS Surprise: +21% Revenue Surprise: +4% 4-Week Change in 2013 Consensus: +8% 4-Week Change in 2014 Consensus: +10% Asbury Automotive Group is one of the largest automotive retailers in the U.S. with 77 retail auto stores. Learn More>> ASBURY AUTO GRP (ABG): Free Stock Analysis Report E TRADE FINL CP (ETFC): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report MERITAGE HOMES (MTH): Free Stock Analysis Report To read this article on Zacks.com click here. I ran a screen in Research Wizard, and here are 4 of the top companies from the list: Facebook ( FB ) EPS Surprise: +44% Revenue Surprise: +12% 4-Week Change in 2013 Consensus: +31% 4-Week Change in 2014 Consensus: +22% With over 1.1 billion active monthly users, Facebook is the largest social networking site in the world. | Asbury Automotive Group ( ABG ) EPS Surprise: +21% Revenue Surprise: +4% 4-Week Change in 2013 Consensus: +8% 4-Week Change in 2014 Consensus: +10% Asbury Automotive Group is one of the largest automotive retailers in the U.S. with 77 retail auto stores. Learn More>> ASBURY AUTO GRP (ABG): Free Stock Analysis Report E TRADE FINL CP (ETFC): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report MERITAGE HOMES (MTH): Free Stock Analysis Report To read this article on Zacks.com click here. E*TRADE Financial ( ETFC ) EPS Surprise: +62% Revenue Surprise: +4% 4-Week Change in 2013 Consensus: +25% 4-Week Change in 2014 Consensus: +20% E*TRADE Financial provides financial services including online brokerage and related banking products and services to retail investors. | Learn More>> ASBURY AUTO GRP (ABG): Free Stock Analysis Report E TRADE FINL CP (ETFC): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report MERITAGE HOMES (MTH): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive Group ( ABG ) EPS Surprise: +21% Revenue Surprise: +4% 4-Week Change in 2013 Consensus: +8% 4-Week Change in 2014 Consensus: +10% Asbury Automotive Group is one of the largest automotive retailers in the U.S. with 77 retail auto stores. The Triple Play Positive revenue and earnings surprises are great, but if management guidance is weak and/or if analysts still revise their earnings estimates lower, a stock can still be punished. | Asbury Automotive Group ( ABG ) EPS Surprise: +21% Revenue Surprise: +4% 4-Week Change in 2013 Consensus: +8% 4-Week Change in 2014 Consensus: +10% Asbury Automotive Group is one of the largest automotive retailers in the U.S. with 77 retail auto stores. Learn More>> ASBURY AUTO GRP (ABG): Free Stock Analysis Report E TRADE FINL CP (ETFC): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report MERITAGE HOMES (MTH): Free Stock Analysis Report To read this article on Zacks.com click here. Approximately two-thirds of companies (67%) have delivered positive earnings surprises this quarter, which is firmly in-line with recent quarters. |
28967.0 | 2013-08-02 00:00:00 UTC | Barrick Q2 Hurt by Hefty Impairment - Analyst Blog | ABG | https://www.nasdaq.com/articles/barrick-q2-hurt-by-hefty-impairment-analyst-blog-2013-08-02 | nan | nan | Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) fell to 66 cents per share in the second quarter of 2013 from 82 cents per share in the year-ago quarter but were ahead of the Zacks Consensus Estimate of 56 cents.
On a reported basis, net loss came in at $8.56 billion or $8.55 per share, compared with earnings of $787 million or 79 cents per share. The loss includes a hefty after tax impairment charge of $8.7 billion incurred due to falling gold prices. Lower metal prices weighed on the bottom line.
Revenues fell 1.3% year over year to $3,201 million in the reported quarter but exceeded the Zacks Consensus Estimate of $3,193 million. Average realized price of gold decreased 12.3% year over year to $1,411 per ounce. All-in costs declined 17.6% to $1,276 per ounce while all-in sustaining costs fell 13.4% to $919 per ounce in the reported quarter.
Gold production jumped to 1.81 million ounces in the quarter from 1.74 million ounces a year ago led by strong performances at Cortez, Veladero and Lagunas Norte. Copper production increased to 134 million pounds from 109 million pounds in the prior-year quarter.
Regional Results
North America: The Barrick North American unit produced 0.93 million ounces of gold in the quarter compared with 0.85 million ounces in the prior-year quarter. Average all-in sustaining costs (AISC) stood at $797 per ounce compared with $894 per ounce in the year-ago quarter. Production increased at the Pueblo Viejo mine as the mine ramped to full capacity in the quarter. Production also increased at the Cortez mine.
South America: Production from South America in the quarter was 0.30 million ounces compared with 0.33 million ounces in the year-ago quarter. AISC of $821 per ounce was better than the company's expectations.
Australia Pacific: The region produced 0.47 million ounces in the quarter, compared with 0.45 million ounces in the year-ago quarter. AISC was $1,033 per ounce in the quarter.
African Barrick Gold plc. (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.12 million ounces, compared with 0.11 million ounces in the year-ago quarter. AISC was $1,416 per ounce in the quarter.
Financial Position
Cash and cash equivalents stood at $2,422 million as of Jun 30, 2013, compared with $2,330 million as of Jun 30, 2012. Operating cash flow in the reported quarter was $896 million compared with $919 million in the second quarter of 2012.
Barrick termed out $3 billion of debt at attractive interest rates to reduce near-term maturities. The company has only about $1.8 billion of cumulative debt maturing through end-2015.
Project Updates
Barrick said that the Pascua-Lama mine, which is the highest gold mine in the world, will produce an average of 800,000-850,000 ounces of gold and 35 million ounces of silver in its first full five years of operation.
Barrick announced that Copiapo Court of Appeals issued a ruling that the company must build water management system at the Pascua-Lama project before restarting construction activities in Chile. The ruling states that the water management system must comply with the project's environmental permit to the satisfaction of Chile's Superintendence of the Environment (SMA). The ruling relates to a constitutional rights protection action filed in September 2012 on behalf of four indigenous communities.
In May 2013, on the basis of a resolution adopted by SMA, a fine of about $16 million was imposed on Barrick for not meeting the environmental control measures at its Pascua-Lama project. Barrick did not abide by the environmental standards, which eventually led the Chilean government to halt the construction on the Chilean side of the project.
As a result of this, capital expenditures at Pascua-Lama over this period are expected to be reduced by a total of $1.5-$1.8 billion. For the full year, capital expenditures are expected to be reduced by roughly $0.7-$0.8 billion, including $300 million in earlier announced deferrals, to around $1.8-$2 billion.
Dividend
Barrick reduced the quarterly dividend by 75% to 5 cents per share in order to improve liquidity. The dividend is payable on Sep 16, 2013, to shareholders of record at the close of business on Aug 30, 2013.
Divestiture
Subsequent to the reported quarter, Barrick sold Barrick Energy for total consideration of $442 million, including cash of $394 million plus a royalty on certain assets valued at $48 million. The proceeds from the divestiture will be recorded in the third quarter of 2013.
Barrick is also in process to divest certain Australian entities while it continues to actively pursue other portfolio optimization opportunities, including the divestiture of other non-core assets.
Outlook
Barrick maintained its forecast for gold production at 7-7.4 million ounces for 2013. The company reduced its full year all-in sustaining cost guidance to $900-$975 per ounce from the previous guidance of $1,000-$1,100 per ounce.
Barrick raised the low end of its estimate for copper to 500-540 million pounds from 480-540 million pounds previously. C1 cash costs are expected to be in the range of $1.95-$2.15 per pound down from the previous expectation of $2.10-$2.30 per pound.
Barrick reduced 2013 budgeted capital and costs by about $2 billion which has offset the cash flow impact of the drop in gold and copper prices that occurred this year. The company also reduced its corporate office staff by roughly 30% and made other significant job reductions at regional locations to optimize costs.
For 2013, production for the North American region is expected in the range of 3.55-3.70 million ounces at AISC of $750-$800 per ounce, lower than the company's previous expectation of $820-$870 per ounce.
Production guidance from South America is reaffirmed in the range of 1.25-1.35 million ounces in 2013. AISC is expected to be in the range of $875-$925 per ounce.
Australia Pacific is expected to produce 1.70-1.85 million ounces in 2013. Barrick reduced its AISC expectation to $1,100-$1,200 per ounce from previous range of $1,200-$1,300 per ounce.
Barrick's share of production at African Barrick Gold is expected to be in the range of 0.40-0.45 million ounces at AISC of $1,550-$1,600 per ounce in 2013.
Another mining company Freeport-McMoRan Copper & Gold Inc. ( FCX ) recently released its second quarter results. The company reported earnings of 49 cents per share for second-quarter 2013, a decline of 33.8% from the year ago earnings of 74 cents. But it beat the Zacks Consensus Estimate of 41 cents. Profit slid 32% year over year to $482 million, hurt by lower prices.
Currently, Barrick retains a Zacks Rank #3 (Hold).
Other companies in the mining industry with a favorable Zacks Rank are NovaGold Resources Inc. ( NG ) and P retium Resources Inc. ( PVG ). Both carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.12 million ounces, compared with 0.11 million ounces in the year-ago quarter. Barrick announced that Copiapo Court of Appeals issued a ruling that the company must build water management system at the Pascua-Lama project before restarting construction activities in Chile. Barrick is also in process to divest certain Australian entities while it continues to actively pursue other portfolio optimization opportunities, including the divestiture of other non-core assets. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.12 million ounces, compared with 0.11 million ounces in the year-ago quarter. Regional Results North America: The Barrick North American unit produced 0.93 million ounces of gold in the quarter compared with 0.85 million ounces in the prior-year quarter. South America: Production from South America in the quarter was 0.30 million ounces compared with 0.33 million ounces in the year-ago quarter. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.12 million ounces, compared with 0.11 million ounces in the year-ago quarter. Regional Results North America: The Barrick North American unit produced 0.93 million ounces of gold in the quarter compared with 0.85 million ounces in the prior-year quarter. South America: Production from South America in the quarter was 0.30 million ounces compared with 0.33 million ounces in the year-ago quarter. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.12 million ounces, compared with 0.11 million ounces in the year-ago quarter. For 2013, production for the North American region is expected in the range of 3.55-3.70 million ounces at AISC of $750-$800 per ounce, lower than the company's previous expectation of $820-$870 per ounce. Barrick reduced its AISC expectation to $1,100-$1,200 per ounce from previous range of $1,200-$1,300 per ounce. |
28968.0 | 2013-07-29 00:00:00 UTC | Group 1 Q2 Earnings Beat Estimates - Analyst Blog | ABG | https://www.nasdaq.com/articles/group-1-q2-earnings-beat-estimates-analyst-blog-2013-07-29 | nan | nan | Group 1 Automotive Inc. ( GPI ) posted a 21.6% rise in earnings per share to $1.52 in the second quarter of 2013 from $1.25 in the prior-year quarter and outpaced the Zacks Consensus Estimate by 11 cents. Net income grew 33.6% to $39.7 million from $29.7 million in the year-ago quarter.
Revenues increased 23.2% year on year to $2.3 billion, beating the Zacks Consensus Estimate of $2.1 billion. The year-over-year improvement was driven by strong performances across its business with higher retail new vehicle sales and better revenues from Finance and insurance business.
Revenues from new vehicle sales escalated 27.3% to $1.4 billion on a 26.1% increase in unit sales to 41,531 vehicles. Revenues from retailed used vehicles improved 17.2% to $534.8 million on a 16.5% increase in unit sales to 25,634 vehicles. Revenues from wholesale used vehicles went up 13.9% to $83.3 million. Used vehicles wholesaled increased 16.3% to 13,072 units.
Revenues from parts and service business scaled up 18.4% to $260.9 million. The company's Finance and insurance business witnessed a 22% rise in revenues to $79.8 million.
Gross profit increased 19.6% to $341.3 million from $285.3 million in the year-ago quarter. Operating income improved 27.8% to $80.6 million from $63.1 million in the second quarter of 2012.
Segment Details
Revenues in the U.S business increased 7.1% to $1.9 billion due to better performance in all the operations and a 3.6% increase in unit sales to 31,868 vehicles. The increase was partially offset by decrease in used vehicle wholesale sales. Gross profit in the segment improved 7.8% to $290.5 million from $269.6 million in the year-ago quarter.
Revenues in the U.K. augmented 50.1% to $207.4 million from $138.2 million due to higher new vehicle retail and used vehicle sales. Gross profit in the segment enhanced 50.5% to $23.7 million from $15.8 million in the year-ago quarter.
Revenues in the Brazil business, which was acquired on Feb this year, was $246.0 million in the quarter. New vehicle retail sales were 5,337 units, while total used vehicle sales were 2,063 units. Gross profit was $27.1 million in the quarter.
Financial Details
Group 1's cash and cash equivalents surged to $10.9 million as of Jun 30, 2013, from $4.7 million as of Dec 31, 2012. Total debt amounted to $242.3 million as of Jun 30, 2013 compared with $263.6 million as of Dec 31, 2012. Debt to capitalization ratio was 19.7% versus 23.5% as of Dec 31, 2012.
Acquisitions
During the quarter, Group 1 Automotive acquired one dealership with estimated annual revenues of approximately $80.0 million. It also disposed four dealerships that generated $176.7 million revenues.
Recently, the company disposed two dealerships, located in Calif., including Miller Nissan, Inc. and Miller Infiniti Inc. These dealerships generated $107.2 million in total revenues.
Our Take
Group 1 Automotive is one of the largest automotive retailers in the U.S., which provides 33 automotive brands. It has 139 automotive dealerships, 178 franchises and 35 collision centers in the U.S., U.K and Brazil. Currently, the company retains a Zacks Rank #2 (Buy).
AutoNation Inc. ( AN ), another prominent automotive retailer in the U.S, posted a 10.6% rise in earnings per share to 73 cents in the second quarter. However, its earnings missed the Zacks Consensus Estimate by a penny.
Revenues increased 13.4% to $4.43 billion, beating the Zacks Consensus Estimate of $4.35 billion. The revenue growth was attributable to strong performance in all business sectors along with higher revenues from retailed used vehicle and Finance and Insurance businesses.
Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). Both the companies carry a Zacks Rank #2 (Buy).
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTONATION INC (AN): Free Stock Analysis Report
GROUP 1 AUTO (GPI): Free Stock Analysis Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues in the Brazil business, which was acquired on Feb this year, was $246.0 million in the quarter. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues increased 23.2% year on year to $2.3 billion, beating the Zacks Consensus Estimate of $2.1 billion. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues from retailed used vehicles improved 17.2% to $534.8 million on a 16.5% increase in unit sales to 25,634 vehicles. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. The company's Finance and insurance business witnessed a 22% rise in revenues to $79.8 million. |
28969.0 | 2013-07-29 00:00:00 UTC | Lithia Beats Q2 Earnings Estimates - Analyst Blog | ABG | https://www.nasdaq.com/articles/lithia-beats-q2-earnings-estimates-analyst-blog-2013-07-29 | nan | nan | Lithia Motors Inc. ( LAD ) posted a 41.9% increase in adjusted earnings per share to $1.05 in the second quarter of 2013 compared with 74 cents earned in the corresponding quarter last year. Reported earnings also surpassed the Zacks Consensus Estimate by 13 cents. Net income jumped 40.9% to $27.4 million from $19.4 million in the year-ago quarter.
Revenues for the quarter increased 22.6% to $1.0 billion from $822.3 million in the year-ago quarter, beating the Zacks Consensus Estimate of $986.0 million. The improvement in revenues was driven by better performance across all the segments, with finance and insurance business, and new vehicle and used vehicle sales being the bright spots. Recent acquisition and same store sales had favorable impacts on the company's revenues.
Revenues from new vehicle sales improved 24.9% to $569.5 million in the quarter. New vehicle retail sales increased 21.8% to 17,024 units. Revenues per vehicle increased 2.5% to $33,452. On a same-store basis, revenues from new vehicle sales went up 18.9% to $541.7 million.
Revenues from used vehicle retail climbed 24.7% to $258.5 million in the quarter. Revenues from used vehicle wholesale went up 7.4% to $37.7 million. Used vehicle retail sales improved 21.3% to 14,074 units with revenues per vehicle increasing 2.8% to $18,365. Same-store revenues from used vehicle retail sales went up 18.7% to $246.0 million and used vehicle wholesale sales gained 1.6% to $35.6 million.
Revenues from service body and parts went up 10.5% to $94.5 million. Meanwhile, the company's finance and insurance business witnessed a 25.9% rise in revenues to $34.2 million. Revenues from Fleet and other went up 25.3% to $14.2 million.
Gross profit increased 19.2% to $159.8 million from $134.1 million in the year-ago quarter. Operating income improved 23.7% to $45.7 million from $36.9 million in the second quarter of 2012.
Financial Details
Lithia Motors had cash and cash equivalents of $20.3 million as of Jun 30, 2013, down from $42.8 million as of Dec 31, 2012. Total debt was $301.0 million as of Jun 30, 2013 compared with $295.1 million as of Dec 31, 2012.
In the first half of 2013, the company had an operating cash flow of $24.4 million compared with a cash outflow of $152.0 million in the corresponding period of 2012.
New Store information
In Jun 2013, Lithia purchased BMW, Honda and Volkswagen stores in Salem, Ore. These stores are expected to generate $110 million additional revenues annually. The company also opened a MINI store in Anchorage, Alaska in Apr, 2013, which will yield annualized revenues of $13 million.
Outlook
Lithia Motors expects earnings in the range of $1.06 to $1.08 per share for the third quarter of 2013 and $3.80 to $3.85 for full year 2013. The company expects revenues between $3.9 billion and $4.0 billion for 2013, with a 17% increase in new vehicle same-store sales and a 16.5% rise in used vehicle same-store sales.
Same-store sales from service body and parts are expected to improve 7%. The company also expects capital expenditures of $55.0 million and a tax rate of 39.5% for 2013.
Our Take
Lithia Motors is the ninth largest automotive retailer in the U.S. With 91 stores in 11 states, the company provides 27 new vehicle brands along with all brands of used vehicle. Currently, it retains a Zacks Rank #1 (Strong Buy).
AutoNation Inc. ( AN ), another prominent automotive retailer in the U.S, posted a 10.6% rise in earnings per share to 73 cents in the second quarter. However, earnings missed the Zacks Consensus Estimate by a penny.
Revenues increased 13.4% to $4.43 billion, beating the Zacks Consensus Estimate of $4.35 billion. The revenue growth was attributable to strong performance in all business sectors along with higher revenues from retailed used vehicle and Finance and Insurance businesses.
Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ). Asbury Automotive carries a Zacks Rank #1 (Strong Buy) while Group 1 is a Zacks Rank #2 (Buy) stock.
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTONATION INC (AN): Free Stock Analysis Report
GROUP 1 AUTO (GPI): Free Stock Analysis Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. The company also opened a MINI store in Anchorage, Alaska in Apr, 2013, which will yield annualized revenues of $13 million. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive carries a Zacks Rank #1 (Strong Buy) while Group 1 is a Zacks Rank #2 (Buy) stock. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues for the quarter increased 22.6% to $1.0 billion from $822.3 million in the year-ago quarter, beating the Zacks Consensus Estimate of $986.0 million. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues from new vehicle sales improved 24.9% to $569.5 million in the quarter. |
28970.0 | 2013-07-26 00:00:00 UTC | Sonic Automotive Q2 Earnings Miss Estimates - Analyst Blog | ABG | https://www.nasdaq.com/articles/sonic-automotive-q2-earnings-miss-estimates-analyst-blog-2013-07-26 | nan | nan | Sonic Automotive ( SAH ) reported adjusted earnings per share of 50 cents in the second quarter of the year, which was up 11.1% from 45 cents a year ago but missed the Zacks Consensus Estimate by a penny. Earnings per share rose despite a 7.2% fall in net earnings to $26.4 million in the quarter due to lower outstanding shares compared with the 2012-second quarter.
Total revenue for the quarter rose 3.8% to $2.2 billion. Of this, revenue from vehicle trade increased 3.6% to $1.8 billion. Meanwhile, revenue from Parts, service and collision repair went up 4.0% to $307.0 million and from Finance, insurance and other services grew 8.6% to $69.2 million.
Revenue from new vehicles retail escalated 5.2% to $1.2 billion. New vehicle retail units increased 1.7% to 33,685 vehicles. However, new vehicle gross margins declined to 5.4% from 5.9% in the year-ago quarter.
Revenue from used vehicles retail rose marginally by about 1% to $539.0 million. Used vehicle unit volume rose marginally to 26,599 vehicles. However, gross margin improved to 7.0% from 6.7% in the year ago period.
Total gross margin remained flat at 14.7% in the quarter while overall operating margin decreased to 2.8% from 2.9% a year ago.
Sonic Automotive announced the acquisition of Murray Mercedes Benz of Denver and Murray BMW of Denver in May. These acquisitions are expected to close in the third quarter of the year.
Charlotte, N. C. based Sonic Automotive is a Fortune 500 company. It is one of the largest automotive retailers in the U.S. The company currently operates 100 dealerships spread across 14 states and 25 major metropolitan markets. It represents about 25 different automotive brands with the majority of the dealerships being luxury and import brands.
Sonic Automotive reiterated its guidance of earnings per share from continuing operations between $1.93 and $2.03 for the full year 2013. Currently, SAH retains a Zacks Rank #3 (Hold).
Other stocks that are performing well in the automotive retail industry include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors ( LAD ) and Group 1 Automotive Inc. ( GPI ). Asbury Automotive and Lithia Motors are Zacks Rank #1 (Strong Buy) stocks while Group 1 Automotive is a Zacks Rank #2 (Buy) stock.
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
GROUP 1 AUTO (GPI): Free Stock Analysis Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
SONIC AUTOMOTVE (SAH): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other stocks that are performing well in the automotive retail industry include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors ( LAD ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report To read this article on Zacks.com click here. Sonic Automotive ( SAH ) reported adjusted earnings per share of 50 cents in the second quarter of the year, which was up 11.1% from 45 cents a year ago but missed the Zacks Consensus Estimate by a penny. | Other stocks that are performing well in the automotive retail industry include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors ( LAD ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive and Lithia Motors are Zacks Rank #1 (Strong Buy) stocks while Group 1 Automotive is a Zacks Rank #2 (Buy) stock. | Other stocks that are performing well in the automotive retail industry include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors ( LAD ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report To read this article on Zacks.com click here. Sonic Automotive ( SAH ) reported adjusted earnings per share of 50 cents in the second quarter of the year, which was up 11.1% from 45 cents a year ago but missed the Zacks Consensus Estimate by a penny. | Other stocks that are performing well in the automotive retail industry include Asbury Automotive Group, Inc. ( ABG ), Lithia Motors ( LAD ) and Group 1 Automotive Inc. ( GPI ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report SONIC AUTOMOTVE (SAH): Free Stock Analysis Report To read this article on Zacks.com click here. Sonic Automotive ( SAH ) reported adjusted earnings per share of 50 cents in the second quarter of the year, which was up 11.1% from 45 cents a year ago but missed the Zacks Consensus Estimate by a penny. |
28971.0 | 2013-07-02 00:00:00 UTC | Why You Should Be Excited About this Earnings Season - Screen of the Week | ABG | https://www.nasdaq.com/articles/why-you-should-be-excited-about-earnings-season-screen-week-2013-07-02 | nan | nan | Earnings season is less than a week away; officially beginning on Monday, July 8th.
Given the market's spectacular rise in the first half of the year (up 13.33%) and the unfortunate pullback from the highs in June (off -7.52% at its worst), a lot is riding on this earnings season.
So I wanted to see how the market fared during each earnings season in the recent past, and if history would be able to give some clues for what might be in store this time around.
This Earnings Season
Alcoa has the distinction of being the 'official' start of earnings season, but not because it's some great barometer of the broader market. In fact, many people discount Alcoa's earnings as being largely irrelevant at predicting how any particular earnings season will go.
Instead, Alcoa has become synonymous with the start of earnings season simply because it's the first blue chip stock in the Dow Jones to report earnings each quarter. It's been that way for some time and that tradition has stuck.
On July 8th, after the close, AA will report earnings, and the rest of the season's fanfare will begin.
Past Earnings Seasons
Rather than analyze the ups and downs of earnings forecasts for the S&P, I want to look at the actual price performance of the index during each earnings season since the bull market began in 2009.
Granted, since the market has been in an uptrend, there is, of course, an upward bias to this study. But the numbers still reveal something about earnings season, and the period immediately following it.
The Numbers
Over the last 4+ years (17 earnings seasons) beginning in 2009, I set out to see how the market performed during that very specific window when earnings season is in full swing.
I used the earnings announcement of Alcoa as the start date for each period and then tracked how the market did for the next 5 weeks. (That roughly coincides with the unofficial end date of earnings season, which is marked by Hewlett-Packard's earnings, i.e., the last of the Dow components to announce earnings.)
Over the last 17 earnings seasons:
the median return for the S&P was 3.82%
12 out of 17 (or 71%) of the periods were winners
the largest winning period was 14.35%, while the worst losing period was -8.72%
the most recently completed earnings season saw the market gain 4.52%
there's a greater chance of having a positive earnings season if the last earnings season was positive as well
I found these statistics to be quite interesting. So I expanded my study.
Expanded Study
Next, I wanted to see what the market did in the 30 days following earnings season.
Here's what I found:
the median return for the S&P was 2.22%
10 out of 17 (59%) of those periods were winners
the largest winning period was 6.48%, while the worst losing period was -5.66%
the most recently completed 30-day post earnings period was off -1.30% (part of the drop we saw after the Fed's 'taper' talk)
8 out of 12 (67%) periods where the earnings season was positive, the following 30 days were positive as well
if the earnings season was negative, there was a greater likelihood that the following 30 days would be negative as well
Note: as I mentioned earlier, the market has been in an uptrend (last month notwithstanding). But, in all fairness, we've had some exceptionally volatile periods during this bull market run-up, with some gut wrenching drops. So while an upside bias does exist and is likely showing up in this study, there is clearly a higher probability of success during earnings season, and shortly thereafter, which appears to be more than just coincidence.
Now What?
The bull market is still clearly intact. And it will take a lot more than a bad month to kill off one of the best stock market rallies in recent memory.
The economy, while it could be growing faster, has been growing fast enough to increase employment and spur record corporate profits.
Whether the Fed tapers by year's end is unknown. But the attractiveness of stocks continues, and is likely to keep this bull market going for a while longer. Keep in mind, lost in all of this taper talk was remarks that interest rates were likely to stay where they are until 2015! So it looks like there's much more to go in this rally.
To get ready for this upcoming earnings season, here's a screen to help find stocks with a high probability of positively surprising in the coming weeks.
Zacks Rank less than or equal to 2
(Only Zacks Rank #1s (Strong Buys) or Zacks Rank #2s (Buys). These stocks are the ones receiving the best upward earnings estimate revisions. Especially significant going into an upcoming earnings report.)
Last EPS Surprise greater than 0%
(Stocks posting positive surprises have a tendency of surprising again.)
Last Sales Surprise greater than 0%
(A positive sales surprise shows top line strength.)
Net Margin greater than Net Margin from 1 Quarter Ago
(Seeing a company earn more for every dollar of sales a company makes bodes well for another bottom line beat.)
Here are 5 stocks that came thru this screen that will be reporting within the next few weeks:
ABG Asbury Automotive Group, Inc.
(reports on 7/23)
CAKE The Cheesecake Factory Inc.
(reports on 7/24)
ICLR ICON Public Ltd. Co.
(reports on 7/22)
NCR NCR Corp.
(reports on 7/19)
PNC The PNC Financial Services Group, Inc.
(reports on 7/17)
Each one of these stocks is a top Zacks Ranked stock that positively surprised their last time out, has been beating the market, and is due to report earnings within the next few weeks.
Start using the Research Wizard in your own trading to find your own high probability stocks. Or pick and choose from the strategies that Zacks has already created that come loaded with the program. And backtest them all to see how successful your stock picking strategies have been before you place your next trade. It's all here.
Sign up for a free two week trial to the Research Wizard today.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks' portfolios and strategies are available at: http://www.zacks.com/performance .
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
CHEESECAKE FACT (CAKE): Free Stock Analysis Report
ICON PLC (ICLR): Free Stock Analysis Report
NCR CORP-NEW (NCR): Free Stock Analysis Report
PNC FINL SVC CP (PNC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks that came thru this screen that will be reporting within the next few weeks: ABG Asbury Automotive Group, Inc. (reports on 7/23) CAKE The Cheesecake Factory Inc. (reports on 7/24) ICLR ICON Public Ltd. Co. (reports on 7/22) NCR NCR Corp. (reports on 7/19) PNC The PNC Financial Services Group, Inc. (reports on 7/17) Each one of these stocks is a top Zacks Ranked stock that positively surprised their last time out, has been beating the market, and is due to report earnings within the next few weeks. ASBURY AUTO GRP (ABG): Free Stock Analysis Report CHEESECAKE FACT (CAKE): Free Stock Analysis Report ICON PLC (ICLR): Free Stock Analysis Report NCR CORP-NEW (NCR): Free Stock Analysis Report PNC FINL SVC CP (PNC): Free Stock Analysis Report To read this article on Zacks.com click here. Given the market's spectacular rise in the first half of the year (up 13.33%) and the unfortunate pullback from the highs in June (off -7.52% at its worst), a lot is riding on this earnings season. | Here are 5 stocks that came thru this screen that will be reporting within the next few weeks: ABG Asbury Automotive Group, Inc. (reports on 7/23) CAKE The Cheesecake Factory Inc. (reports on 7/24) ICLR ICON Public Ltd. Co. (reports on 7/22) NCR NCR Corp. (reports on 7/19) PNC The PNC Financial Services Group, Inc. (reports on 7/17) Each one of these stocks is a top Zacks Ranked stock that positively surprised their last time out, has been beating the market, and is due to report earnings within the next few weeks. ASBURY AUTO GRP (ABG): Free Stock Analysis Report CHEESECAKE FACT (CAKE): Free Stock Analysis Report ICON PLC (ICLR): Free Stock Analysis Report NCR CORP-NEW (NCR): Free Stock Analysis Report PNC FINL SVC CP (PNC): Free Stock Analysis Report To read this article on Zacks.com click here. Here's what I found: the median return for the S&P was 2.22% 10 out of 17 (59%) of those periods were winners the largest winning period was 6.48%, while the worst losing period was -5.66% the most recently completed 30-day post earnings period was off -1.30% (part of the drop we saw after the Fed's 'taper' talk) 8 out of 12 (67%) periods where the earnings season was positive, the following 30 days were positive as well if the earnings season was negative, there was a greater likelihood that the following 30 days would be negative as well Note: as I mentioned earlier, the market has been in an uptrend (last month notwithstanding). | Here are 5 stocks that came thru this screen that will be reporting within the next few weeks: ABG Asbury Automotive Group, Inc. (reports on 7/23) CAKE The Cheesecake Factory Inc. (reports on 7/24) ICLR ICON Public Ltd. Co. (reports on 7/22) NCR NCR Corp. (reports on 7/19) PNC The PNC Financial Services Group, Inc. (reports on 7/17) Each one of these stocks is a top Zacks Ranked stock that positively surprised their last time out, has been beating the market, and is due to report earnings within the next few weeks. ASBURY AUTO GRP (ABG): Free Stock Analysis Report CHEESECAKE FACT (CAKE): Free Stock Analysis Report ICON PLC (ICLR): Free Stock Analysis Report NCR CORP-NEW (NCR): Free Stock Analysis Report PNC FINL SVC CP (PNC): Free Stock Analysis Report To read this article on Zacks.com click here. Over the last 17 earnings seasons: the median return for the S&P was 3.82% 12 out of 17 (or 71%) of the periods were winners the largest winning period was 14.35%, while the worst losing period was -8.72% the most recently completed earnings season saw the market gain 4.52% there's a greater chance of having a positive earnings season if the last earnings season was positive as well I found these statistics to be quite interesting. | Here are 5 stocks that came thru this screen that will be reporting within the next few weeks: ABG Asbury Automotive Group, Inc. (reports on 7/23) CAKE The Cheesecake Factory Inc. (reports on 7/24) ICLR ICON Public Ltd. Co. (reports on 7/22) NCR NCR Corp. (reports on 7/19) PNC The PNC Financial Services Group, Inc. (reports on 7/17) Each one of these stocks is a top Zacks Ranked stock that positively surprised their last time out, has been beating the market, and is due to report earnings within the next few weeks. ASBURY AUTO GRP (ABG): Free Stock Analysis Report CHEESECAKE FACT (CAKE): Free Stock Analysis Report ICON PLC (ICLR): Free Stock Analysis Report NCR CORP-NEW (NCR): Free Stock Analysis Report PNC FINL SVC CP (PNC): Free Stock Analysis Report To read this article on Zacks.com click here. I used the earnings announcement of Alcoa as the start date for each period and then tracked how the market did for the next 5 weeks. |
28972.0 | 2013-05-22 00:00:00 UTC | Group 1 Auto Raises Dividend - Analyst Blog | ABG | https://www.nasdaq.com/articles/group-1-auto-raises-dividend-analyst-blog-2013-05-22 | nan | nan | Group 1 Automotive Inc. ( GPI ) revealed that its board of directors has approved a 6.7% increase in dividend to 16 cents per share for the first quarter of 2013 from 15 cents in the 2012-fourth quarter following its impressive earnings release on May 2. The increased dividend is payable on Jun 17 to stockholders of record as on Jun 3.
Group 1 Automotive raised dividend every year since it has resumed the payment in late 2010. Last year, the automotive retailer also raised dividend by a penny or 7.1% to 15 cents.
Group 1 Automotive posted a 19.6% rise in earnings per share to $1.16 in the first quarter of 2013 from 97 cents in the prior-year quarter and outpaced the Zacks Consensus Estimate of $1.04. Net income grew 26.5% to $29.2 million from $23.1 million in the first quarter of 2012.
Revenues increased 18% to $1.96 billion, beating the Zacks Consensus Estimate of $1.89 billion. The year-over-year improvement was driven by strong retail new vehicle and used vehicle unit sales as well as higher revenues from Finance and insurance business.
Gross profit increased 15.4% to $300.5 million from $260.4 million in the year-ago quarter. Operating income improved 8.6% to $58.6 million from $54.0 million in the first quarter of 2012.
During the quarter, Group 1 Automotive acquired four franchises in the U.K and 22 franchises in Brazil, with combined annual revenues of $827.0 million. It also disposed a franchise in Calif., which generated annual revenues of $35.0 million in 2012.
Group 1 Automotive is one of the largest automotive retailers in the U.S., which provides 35 automotive brands. It has 143 automotive dealerships, 182 franchises and 36 collision centers in the U.S., U.K and Brazil. Currently, the company retains a Zacks Rank #3 (Hold).
Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). They carry a Zacks Rank #2 (Buy).
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTONATION INC (AN): Free Stock Analysis Report
GROUP 1 AUTO (GPI): Free Stock Analysis Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Group 1 Automotive Inc. ( GPI ) revealed that its board of directors has approved a 6.7% increase in dividend to 16 cents per share for the first quarter of 2013 from 15 cents in the 2012-fourth quarter following its impressive earnings release on May 2. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. During the quarter, Group 1 Automotive acquired four franchises in the U.K and 22 franchises in Brazil, with combined annual revenues of $827.0 million. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Group 1 Automotive Inc. ( GPI ) revealed that its board of directors has approved a 6.7% increase in dividend to 16 cents per share for the first quarter of 2013 from 15 cents in the 2012-fourth quarter following its impressive earnings release on May 2. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Last year, the automotive retailer also raised dividend by a penny or 7.1% to 15 cents. |
28973.0 | 2013-05-07 00:00:00 UTC | Auto Retail Stocks: Too Good to be True? - Investment Ideas | ABG | https://www.nasdaq.com/articles/auto-retail-stocks-too-good-be-true-investment-ideas-2013-05-07 | nan | nan | Could an investment be too good to be true?
Lost amidst the earnings reports by such investor favorites as Apple and Procter & Gamble were the earnings reports of the auto retailers.
I'm not talking about the auto manufacturers like Ford and Toyota. I'm talking about the retailers who simply sell, and in many cases, repair, cars and trucks. I was surprised to learn that a handful of these companies are publicly traded and that some of the retailers have dealerships all across the country.
A bunch of them recently reported earnings and they didn't just have good quarters, they had unbelievable quarters. They had the kind of quarters most businesses only dream about.
Auto Sales Returning To "Normal"
But how is that possible more than three years into the auto recovery? It's not as as if auto sales haven't been rising the last few years. Car sales bottomed in 2009 at 10.4 million and have been steadily rising ever since. Automobile analysts expect 2013 sales of 15.1 million. That is near a "normal" auto sales market for the United States.
But a perfect combination of improving credit availability with zero down loans, pent up demand from buyers driving older cars for longer than they otherwise would have, and a housing market recovery fueling pick-up sales, has resulted in the best of times for the retailers.
Three Auto Retail Stocks With the Best Fundamentals
Even though the auto stocks have had big run-ups, it's not too late to get into the sector. Valuations are still attractive. The companies are also expected to have double digit earnings growth this year as analysts expect the growth to remain through 2013 and possibly into 2014.
It doesn't get much better than buying both solid fundamentals and big earnings growth.
However, not all of the auto retailers are created equal. These three auto retailers have the best combination of fundamentals and the Zacks Rank in the sector. All three are Zacks Rank #2 (Buy) stocks.
Lithia Motors Inc.
Asbury Automotive Group
Autonation Inc.
1. Lithia Motors ( LAD )
Lithia Motors is the 9th largest auto retailer in the United States with 88 stores in 11 states. It has both rural and urban stores which allows it to be a good indicator of what is happening in the overall economy.
On Apr 24, it beat the Zacks Consensus Estimate by 16%. Same store sales growth was phenomenal, growing by 18.8%. New cars same store sales jumped 22% while used car same store sales rose 21.5%.
Heck, even Service, Body & Parts was strong, with same store sales up 7%.
Lithia also guided higher, the 13th consecutive quarter it has done so.
Forward P/E= 13.7
Expected EPS growth in 2013= 22%
Zacks Rank #2 (Buy)
2. Asbury Automotive Group ( ABG )
Asbury Automotive is among the largest auto retailers with 76 auto retail stores across the United States.
On Apr 24, it reported its fourth consecutive record quarterly results. Like Lithia, new and used car sales were strong. New car same store sales jumped 13.9% and used car same store sales rose 14.4%.
Forward P/E= 13.3
Expected EPS growth in 2013= 15.8%
Zacks Rank #2 (Buy)
3. Autonation ( AN )
Autonation is the largest of the auto retailers with 262 new vehicle franchises in 15 states. It recently began a rebranding campaign to bring all of its stores under the Autonation brand. It has completed 30% of the rebranding.
New car same store sales rose 6% while used car same store sales increased 6.7%.
Forward P/E= 15.2
Expected EPS growth in 2013= 12.1%
Zacks Rank #2 (Buy)
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ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTONATION INC (AN): Free Stock Analysis Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group ( ABG ) Asbury Automotive is among the largest auto retailers with 76 auto retail stores across the United States. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. I was surprised to learn that a handful of these companies are publicly traded and that some of the retailers have dealerships all across the country. | Asbury Automotive Group ( ABG ) Asbury Automotive is among the largest auto retailers with 76 auto retail stores across the United States. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Lithia Motors ( LAD ) Lithia Motors is the 9th largest auto retailer in the United States with 88 stores in 11 states. | Asbury Automotive Group ( ABG ) Asbury Automotive is among the largest auto retailers with 76 auto retail stores across the United States. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. New cars same store sales jumped 22% while used car same store sales rose 21.5%. | Asbury Automotive Group ( ABG ) Asbury Automotive is among the largest auto retailers with 76 auto retail stores across the United States. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. A bunch of them recently reported earnings and they didn't just have good quarters, they had unbelievable quarters. |
28974.0 | 2013-05-03 00:00:00 UTC | Group 1 Earnings Beat on Strong Sales - Analyst Blog | ABG | https://www.nasdaq.com/articles/group-1-earnings-beat-on-strong-sales-analyst-blog-2013-05-03 | nan | nan | Group 1 Automotive Inc. ( GPI ) posted a 19.6% rise in earnings per share to $1.16 in the first quarter of 2013 from 97 cents in the prior-year quarter and outpaced the Zacks Consensus Estimate of $1.04. Net income grew 26.5% to $29.2 million from $23.1 million in the first quarter of 2012.
Revenues increased 18% to $1.96 billion, beating the Zacks Consensus Estimate of $1.89 billion. The year-over-year improvement was driven by strong retail new vehicle and used vehicle unit sales and higher revenues from Finance and insurance business.
Revenues from new vehicle sales escalated 21.7% to $1.1 billion on an 18.5% increase in unit sales to 33,096 vehicles. Revenues from retailed used vehicles improved 13.6% to $471.4 million on a 12% increase in unit sales to 23,238 vehicles.
Revenues from wholesale used vehicles went up 11.5% to $74.5 million. Used vehicles wholesaled increased 13.4% to 11,335 units. Revenues from parts and service business scaled up 11.5% to $237.5 million. The company's finance and insurance business witnessed a 22.6% rise in revenues to $70.1 million.
Gross profit increased 15.4% to $300.5 million from $260.4 million in the year-ago quarter. Operating income improved 8.6% to $58.6 million from $54.0 million in the first quarter of 2012.
Segment Details
Revenues in the U.S business increased 8.5% to $1.7 billion due to a 10.3% increase in new vehicle retail sale and 18.9% hike in revenues from Finance and insurance business. New vehicle retail sales augmented 7.4% to 28,778 units, while used vehicle retail sales rose 6.1% to 21,116 units. Gross profit in the segment improved 8.8% to $272.9 million from $250.9 million in the year-ago quarter.
Revenues in the United Kingdom business more than doubled to $171.1 million from $78.5 million due to increases in new vehicle retail and used vehicle sales. New vehicle retail sales augmented significantly to 2,827 units from 1,147 units, while total used vehicle sales improved to 3,171 units from 1,544 units. Gross profit in the segment enhanced to $19.2 million from $9.5 million in the year ago quarter.
Revenues in the Brazil business, which was acquired on Feb 28, was $71.0 million in the quarter. New vehicle retail sales were 1,491 units, while total used vehicle sales was 629 units. Gross profit was $8.4 million in the quarter.
Financial Details
Group 1 Automotive had cash and cash equivalents of $17.7 million as of Mar 31, 2013, significantly up from $4.7 million as of Dec 31, 2012. Total debt amounted to $37.2 million as of Mar 31, 2013 compared with $31.4 million as of Dec 31, 2012. Debt to capitalization ratio was 3.7% versus 3.5% a year ago.
Acquisitions
During the quarter, Group 1 Automotive acquired four franchises in the U.K and 22 franchises in Brazil, with combined annual revenues of $827.0 million. It also disposed a franchise in Calif. which generated annual revenues of $35.0 million in 2012.
Our Take
Group 1 Automotive is one of the largest automotive retailers in the U.S., which provides 35 automotive brands. It has 143 automotive dealerships, 182 franchises and 36 collision centers in the U.S., U.K and Brazil. Currently, the company retains a Zacks Rank #3 (Hold).
Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). All these companies carry a Zacks Rank #2 (Buy).
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTONATION INC (AN): Free Stock Analysis Report
GROUP 1 AUTO (GPI): Free Stock Analysis Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. The company's finance and insurance business witnessed a 22.6% rise in revenues to $70.1 million. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. New vehicle retail sales augmented significantly to 2,827 units from 1,147 units, while total used vehicle sales improved to 3,171 units from 1,544 units. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues from retailed used vehicles improved 13.6% to $471.4 million on a 12% increase in unit sales to 23,238 vehicles. | Some other stocks that are performing well in the industry where Group 1 Automotive operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. The company's finance and insurance business witnessed a 22.6% rise in revenues to $70.1 million. |
28975.0 | 2013-05-02 00:00:00 UTC | Penske Stays Neutral - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-stays-neutral-analyst-blog-2013-05-02 | nan | nan | On May 1, we maintained our Neutral recommendation on Penske Automotive Group Inc. ( PAG ) based on its wide range of imported and luxury brands, which helps it to maintain a strong foothold in the U.S. and overseas markets. However, we are concerned about the challenging market condition for new and used cars and rising competition from the retail and service centers owned by original equipment manufacturers.
Why Maintained?
On Apr 29, Penske posted a 14.5% increase in earnings per share to 63 cents in the first quarter of 2013 from 55 cents in the corresponding quarter last year. Earnings in the quarter exceeded the Zacks Consensus Estimate by a penny.
Revenues improved 7.7% to $3.40 billion, missing the Zacks Consensus Estimate of $3.45 billion. The year-over-year rise in revenues was driven by a 9.9% increase in retail sales to 85,821 units.
Following the release of the first quarter results, the Zacks Consensus Estimate for fiscal 2013 decreased 0.39% to $2.55 per share. The Zacks Consensus Estimate for fiscal 2014 remained flat at $2.85 per share. Currently, Penske maintains a Zacks Rank #3 (Hold).
Penske benefits from its diversified revenue stream. A significant portion of the company's profit comes from higher-margin service and parts sales, which are less cyclical than retail vehicle sales and thus lends stability to the company.
In addition, the company benefits from its expansion strategy. It has expanded its global presence by closing acquisitions in Northern Ireland and Italy. It has also expanded its footprint domestically by entering the Madison, WI market.
However, the company faces tough competition from the retail as well as service centers owned by OEMs. In addition, the retail vehicle market in the U.S. remains challenging for both new and used car sales volume.
Other Stocks to Look For
Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). All these companies carry a Zacks Rank #2 (Buy).
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTONATION INC (AN): Free Stock Analysis Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
PENSKE AUTO GRP (PAG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other Stocks to Look For Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. However, we are concerned about the challenging market condition for new and used cars and rising competition from the retail and service centers owned by original equipment manufacturers. | Other Stocks to Look For Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. However, we are concerned about the challenging market condition for new and used cars and rising competition from the retail and service centers owned by original equipment manufacturers. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Other Stocks to Look For Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). On May 1, we maintained our Neutral recommendation on Penske Automotive Group Inc. ( PAG ) based on its wide range of imported and luxury brands, which helps it to maintain a strong foothold in the U.S. and overseas markets. | Other Stocks to Look For Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. On May 1, we maintained our Neutral recommendation on Penske Automotive Group Inc. ( PAG ) based on its wide range of imported and luxury brands, which helps it to maintain a strong foothold in the U.S. and overseas markets. |
28976.0 | 2013-04-30 00:00:00 UTC | Penske Beats on Earnings in 1Q - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-beats-on-earnings-in-1q-analyst-blog-2013-04-30 | nan | nan | Penske Automotive Group Inc. ( PAG ) posted a 14.5% increase in earnings per share to 63 cents in the first quarter of 2013 from 55 cents in the corresponding quarter last year. Earnings in the quarter exceeded the Zacks Consensus Estimate by a penny. Net profits increased 13.9% to $56.9 million in the quarter from $49.9 million a year ago.
Revenues improved 7.7% to $3.40 billion, missing the Zacks Consensus Estimate of $3.45 billion. Same-store retail revenues rose 7.4%. The year-over-year rise in revenues was driven by a 9.9% increase in retail sales to 85,821 units, including a 6.8% increase to 82,695 units on a same-store basis. Sales went up 12.7% in the U. S and 4.5% internationally.
Gross profits improved 7.9% to $533.0 million from $493.9 million in the first quarter of 2012. Operating profit augmented 11.7% to $105.2 million from $94.2 million a year ago.
New Vehicle revenues went up 12.9% to $1.7 billion on a 9.7% rise in sales to 45,745 units. Used Vehicle revenues went up 7.4% to $1.0 billion based on a 10.2% increase in sales to 40,076 units. Revenues in the Service and Parts segment rose 6.8% to $383.5 million.
Meanwhile, revenues in the Fleet and Wholesale Vehicle segment decreased 24% to $181.9 million and in the Finance and Insurance segment rose 11.5% to $86.7 million.
In the first quarter of 2013, the company repurchased 410,000 shares for $12.7 million at an average price of $30.93 per share. Penske has authorized shares worth $85.6 million remaining under its existing repurchase program.
Penske had cash and cash equivalents of $31.6 million as of Mar 31, 2013, a decrease from $43.8 million as of Dec 31, 2012. Long-term debt amounted to $891.7 million as of Mar 31, 2013, down from $937.5 million as of Dec 31, 2012. Long-term debt to capitalization ratio was 40.6% versus 41.6% a year ago.
Penske Automotive Group sells new and previously owned vehicles along with finance and insurance products. It operates 342 retail automotive franchises, offering 40 different brands and 30 collision repair centers. Apart from its franchises in the U.S. and Europe, the company offers repair and maintenance services. Currently, it retains a Zacks Rank #3 (Hold).
Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). All these companies carry a Zacks Rank #2 (Buy).
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTONATION INC (AN): Free Stock Analysis Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
PENSKE AUTO GRP (PAG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Penske Automotive Group sells new and previously owned vehicles along with finance and insurance products. | Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Penske Automotive Group Inc. ( PAG ) posted a 14.5% increase in earnings per share to 63 cents in the first quarter of 2013 from 55 cents in the corresponding quarter last year. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). Net profits increased 13.9% to $56.9 million in the quarter from $49.9 million a year ago. | Some other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and Lithia Motors Inc. ( LAD ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Penske Automotive Group Inc. ( PAG ) posted a 14.5% increase in earnings per share to 63 cents in the first quarter of 2013 from 55 cents in the corresponding quarter last year. |
28977.0 | 2013-04-26 00:00:00 UTC | Barrick's 1Q Earnings Beat, Sales Miss - Analyst Blog | ABG | https://www.nasdaq.com/articles/barricks-1q-earnings-beat-sales-miss-analyst-blog-2013-04-26 | nan | nan | Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) fell to 92 cents per share in the first quarter of 2013 from $1.10 per share in the year-ago quarter, but were ahead of the Zacks Consensus Estimate of 86 cents.
On a reported basis, net earnings came in at $847 million or 85 cents per share, a roughly 18% fall from earnings of $1.04 billion or $1.04 per share recorded in the year-ago quarter. Lower gold and copper prices and reduced sales volumes weighed on the bottom line.
Revenues fell 5.7% year over year to $3,437 million in the reported quarter and missed the Zacks Consensus Estimate of $3,649 million. Average realized price of gold decreased 3.7% year over year to $1,629 per ounce. Total cash costs increased 3.9% to $561 per ounce while all in sustaining costs crept up 1.1% to $919 per ounce in the reported quarter.
Gold production declined to 1.80 million ounces in the quarter from 1.88 million ounces a year ago. Copper production, on the other hand, increased to 127 million pounds from 117 million pounds in the prior year. All-in sustaining and total cash costs benefited from strong performances at Goldstrike, Cortez, and Veladero.
Regional Results
North America: Barrick's North American unit produced 0.87 million ounces of gold in the quarter compared with 0.89 million ounces in the prior-year quarter. All-in sustaining and total cash costs stood at $770 per ounce and $487 per ounce, respectively, in the reported quarter.
Production at Cortez and Goldstrike was higher, reflecting higher-than-expected grades and recoveries. The Pueblo Viejo mine, which achieved commercial production in January, produced 96,000 ounces of gold.
South America: Production from South America in the quarter was 0.37 million ounces compared with 0.45 million ounces in the year-ago quarter. All-in sustaining and total cash costs were $638 per ounce and $405 per ounce, respectively.
Australia Pacific: The region produced 0.45 million ounces in the quarter, compared with 0.43 million ounces in the year-ago quarter. All-in sustaining and total cash costs were $1,096 per ounce and $785 per ounce, respectively.
African Barrick Gold plc. (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.11 million ounces, almost at par with the year-ago quarter. All-in sustaining and total cash costs were $1,561 per ounce and $931 per ounce, respectively, in the quarter.
Financial Position
Cash and cash equivalents stood at $2,342 million as of Mar 31, 2013, compared with $2,665 million as of Mar 31, 2012. Net debt was roughly $14.1 billion as of Mar 31, 2013, versus $12.1 billion as of Mar 31, 2012. First quarter operating cash flow was $1.09 billion compared with $1.37 billion in the first quarter of 2012.
Project Updates
Barrick said that the Pascua-Lama mine, which is the highest gold mine in the world, will produce an average of 800,000-850,000 ounces of gold and 35 million ounces of silver in its first full five years of operation at all-in sustaining and total cash costs of $50-$200 per ounce and negative $150 to $0 per ounce, respectively.
Barrick, earlier this month, announced that it is halting construction work at the Pascua-Lama mine in Chile after a Chilean court issued a preliminary injunction citing environmental concerns. Barrick's Pascua-Lama mine overlaps the border of Chile and Argentina and the court ruled in favor of indigenous communities who complained that the project threatens their water supply. Barrick is working to address the environmental and other regulatory requirements on the Chilean side of the project.
Outlook
Barrick reiterated its 2013 gold production guidance of 7-7.4 million ounces at total cash costs of $610-$660 per ounce. The company reduced its full year all-in sustaining cost guidance to $950-$1,050 per ounce from the previous guidance of $1,000-$1,100 per ounce.
Barrick will curtail its capital spending to the range of $5.2 billion and $5.7 billion from $5.7 billion to $6.3 billion expected earlier. Barrick is also reducing exploration spending to a range of $300 million to $340 million, which is $100 million lower than earlier expectations. The company is taking these measures to ensure that production results in returns for investors.
For 2013, production for the North American region is expected in the range of 3.55-3.70 million ounces at all-in sustaining and total cash costs of $820-$870 per ounce and $495-$545 per ounce, respectively. The company expects ramp up of Pueblo Viejo to full production in the second half.
Production from South America is expected to be in the range of 1.25-1.35 million ounces in 2013. The all-in sustaining and total cash costs are expected to be in the range of $875-$925 per ounce and $550-$600 per ounce, respectively.
Australia Pacific is expected to produce 1.70-1.85 million ounces this year for at all-in sustaining and total cash costs of $1,200-$1,300 per ounce and $880-$950 per ounce, respectively.
Barrick's share of production at African Barrick Gold is expected to be in the range of 0.40-0.45 million ounces at all-in sustaining and total cash costs of $1,550-$1,600 per ounce and $925-$975 per ounce, respectively, in 2013.
We believe that higher costs may affect Barrick's results moving ahead. Moreover, challenging economic conditions remain a concern for the company along with the limited supply of gold as new deposits.
Another copper and gold company Freeport-McMoRan Copper & Gold Inc ( FCX ) recently released its first quarter results. The company's adjusted earnings (excluding one-time charges) of 73 cents per share for the quarter beat the Zacks Consensus Estimate by a penny but trailed the year ago earnings of 96 cents.
Other gold mining companies, Newmont Mining Corporation ( NEM ) and Goldcorp Inc. ( GG ) are slated to release their results on Apr 29 and May 2, respectively.
Currently, Barrick retains a Zacks Rank #5 (Strong Sell).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.11 million ounces, almost at par with the year-ago quarter. All-in sustaining and total cash costs benefited from strong performances at Goldstrike, Cortez, and Veladero. Barrick, earlier this month, announced that it is halting construction work at the Pascua-Lama mine in Chile after a Chilean court issued a preliminary injunction citing environmental concerns. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.11 million ounces, almost at par with the year-ago quarter. Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) fell to 92 cents per share in the first quarter of 2013 from $1.10 per share in the year-ago quarter, but were ahead of the Zacks Consensus Estimate of 86 cents. Regional Results North America: Barrick's North American unit produced 0.87 million ounces of gold in the quarter compared with 0.89 million ounces in the prior-year quarter. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.11 million ounces, almost at par with the year-ago quarter. Project Updates Barrick said that the Pascua-Lama mine, which is the highest gold mine in the world, will produce an average of 800,000-850,000 ounces of gold and 35 million ounces of silver in its first full five years of operation at all-in sustaining and total cash costs of $50-$200 per ounce and negative $150 to $0 per ounce, respectively. For 2013, production for the North American region is expected in the range of 3.55-3.70 million ounces at all-in sustaining and total cash costs of $820-$870 per ounce and $495-$545 per ounce, respectively. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.11 million ounces, almost at par with the year-ago quarter. Gold production declined to 1.80 million ounces in the quarter from 1.88 million ounces a year ago. Project Updates Barrick said that the Pascua-Lama mine, which is the highest gold mine in the world, will produce an average of 800,000-850,000 ounces of gold and 35 million ounces of silver in its first full five years of operation at all-in sustaining and total cash costs of $50-$200 per ounce and negative $150 to $0 per ounce, respectively. |
28978.0 | 2013-04-25 00:00:00 UTC | Lithia's 1Q Earnings Improve 42.4% - Analyst Blog | ABG | https://www.nasdaq.com/articles/lithias-1q-earnings-improve-42.4-analyst-blog-2013-04-25 | nan | nan | Lithia Motors Inc. ( LAD ) posted a 42.4% increase in earnings per share to 84 cents in the first quarter of 2013 from 59 cents in the corresponding quarter last year. Reported earnings also surpassed the Zacks Consensus Estimate by 12 cents. Net income shot up 40.4% to $21.9 million from $15.6 million in the year-ago quarter.
Revenues for the quarter increased 22.3% to $903.1 million from $738.2 million in the year-ago quarter, beating the Zacks Consensus Estimate of $835 million. The improvement in revenues was driven by better performance across all the segments, with finance and insurance business, new vehicle and used vehicle sales being the bright spots.
Revenues from new vehicle sales improved 25.6% to $493.4 million in the quarter. New vehicle retail sales increased 21.3% to 14,720 units. Revenues per vehicle increased 3.5% to $33,522. On a same-store basis, revenues from new vehicle sales went up 22% to $474.0 million.
Revenues from used vehicle retail climbed 25.5% to $239.2 million in the quarter. Revenues from used vehicle wholesale went up 18.4% to $39.5 million. Used vehicle retail sales improved 21.9% to 13,661 units with revenues per vehicle increasing 3% to $17,512. Same-store revenues from used vehicle sales went up 21.5% to $227.8 million.
Revenues from service body and parts went up 8.3% to $90.4 million. Meanwhile, the company's finance and insurance business witnessed a 27.3% rise in revenues to $31.7 million. Revenues from Fleet and other declined 31.8% to $8.8 million.
Gross profit increased 17.8% to $146.4 million from $124.3 million in the year-ago quarter. Operating income improved 28.3% to $40.6 million from $31.6 million in the first quarter of 2012.
Financial Details
Lithia Motors had cash and cash equivalents of $15.0 million as of Mar 31, 2013, down from $42.8 million as of Dec 31, 2012. Total debt was $229.7 million as of Mar 31, 2013 compared with $295.1 million as of Dec 31, 2012.
In the first three months of 2013, the company had an operating cash flow of $49.8 million compared with a cash outflow of $41.0 million in the corresponding period of 2012.
Share Repurchase & Dividend
During the first quarter of 2013, Lithia Motors repurchased 127,900 shares of Class A common stock at a weighted average price of $40.76. As of Mar 31, 2013, the company had 1,726,953 shares remaining under its repurchase program.
For the first quarter of 2013, the Board of Directors of Lithia Motors has authorized an increased dividend of 13 cents per share. The dividend is payable on May 24, 2013 to shareholders of the record of May 10, 2013.
Outlook
Lithia Motors expects earnings in the range of 86 cents to 88 cents per share for the second quarter of 2013 and $3.48 to $3.55 for the full year 2013. The company expects revenues between $3.8 billion and $3.9 billion for 2013, with a 15.5% increase in new vehicle same-store sales and a 13% rise in used vehicle same-store sales. Same-store sales from service body and parts are expected to improve 7%. The company also expects capital expenditures of $55.0 million and a tax rate of 39.5% for 2013.
Our Take
Lithia Motors is the ninth largest automotive retailer in U.S. With 88 stores in 11 states, the company provides 27 new vehicle brands along with all brands of used vehicle. Currently, it retains a Zacks Rank #3 (Buy).
Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and CarMax Inc. ( KMX ). All these companies carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and CarMax Inc. ( KMX ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Meanwhile, the company's finance and insurance business witnessed a 27.3% rise in revenues to $31.7 million. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and CarMax Inc. ( KMX ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. The company expects revenues between $3.8 billion and $3.9 billion for 2013, with a 15.5% increase in new vehicle same-store sales and a 13% rise in used vehicle same-store sales. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and CarMax Inc. ( KMX ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues for the quarter increased 22.3% to $903.1 million from $738.2 million in the year-ago quarter, beating the Zacks Consensus Estimate of $835 million. | Some other stocks that are performing well in the industry where Lithia Motors operates include Asbury Automotive Group, Inc. ( ABG ), AutoNation Inc. ( AN ) and CarMax Inc. ( KMX ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues from new vehicle sales improved 25.6% to $493.4 million in the quarter. |
28979.0 | 2013-03-23 00:00:00 UTC | Billionaire Michael Dell's Top 5: DineEquity (DIN), PVH Corp (PVH) And More | ABG | https://www.nasdaq.com/articles/billionaire-michael-dells-top-5-dineequity-din-pvh-corp-pvh-and-more-2013-03-23 | nan | nan | Be sure to check out our detailed stock analysis (click here).
Michael Dell , founder of the tech giant Dell Inc., is one of the richest people in the world, with a net worth in excess of $14 billion. He manages his personal wealth through MSD Capital, which invests in public equity, private equity and real estate. Michael Dell started MSD in 1998 as a family office in an effort to diversify his wealth beyond the computer company Dell. MSD Capital runs a niche portfolio that is heavily concentrated; this includes having over 85% of his total funds invested in the top four stocks. Let's have a look at Michael Dell 's top picks for last quarter. [/size]
MSD Capital's Top Picks
DineEquity Inc( DIN ) was MSD's top stock holding at the end of 2012, with over 32% of the fund invested in the company. DineEquity owns and operates two restaurant chains, Applebee's Neighborhood Grill and International House of Pancakes (IHOP). DineEquity has a robust return on equity of 37%, compared to an industry average of 20%. What's more is that its net profit margin of 15% is high compared to an industry average of 5%. DineEquity pays a 4.23% dividend yield and trades at a mere 10.7 times earnings, making the stock a value and income play (read more about why).
Asbury Automotive Group, Inc.( ABG ) is MSD's secondlargestholding and makes up 20% of the firm's public equity portfolio. Asbury is one of the largest automotive retailers in the United States. Asbury posted fourth quarter earnings of $0.72 per share, versus $0.55 from the same quarter last year and beating consensus of $0.65 handily. As well, earnings before interest and taxes beat consensus estimates by 5%. Asbury did suspend its dividend in 2008 in an effort to boost its cash position, but boding well for Asbury is the S&P's expected increase in U.S. light vehicle sales to 15.4 million units in 2013, up from 14.4 million in 2012.
PVH Corp.( PVH ) is MSD's fourth largest holding and makes up 17.5% of the fund's portfolio . PVH has a diversified portfolio of iconic brands including Calvin Klein, Tommy Hilfiger and Van Heusen. The stock is up over 30% during the past twelve months, mainly due to its planned acquisition of The Warnaco Group. The acquisition will unite the Calvin Klein brand under one roof. Other Warnaco brands include Speedo, Chaps, Warner's and Olga. Meanwhile, the company exited its Izod women's and Timberland wholesale sportswear businesses last year.
Irrespective of the Warnaco acquisition, expected earnings growth appears to be robust. Year 2012 showed an EPS of $5.38, and analysts estimate 2013 to be $6.39 and 2014 at $7.45. Putting a 20.5 times price to earnings multiple (the current P/E) on 2014 earnings estimates and the stock appears undervalued by over 22%. PVH is one of the top three apparel stocks for 2013 (read about all three).
Delphi Automotive PLC( DLPH ) is a vehicle components manufacturer that provides electrical, safety and thermal technology solutions to the vehicle markets. It is one of the largest vehicle component manufacturers, and its customers include some of the largest automotive original equipment manufacturers. The stock is MSD's fourth largest holding making up 15.5% of its total holdings. Global auto sales is expected to be up in 2013 thanks to expansion in the U.S. and China; as well, revenue in Asia is expected to grow faster than other regions, where its backlog has been growing rapidly. With a new cash dividend of $0.17 quarterly, the stock now has a dividend yield of 1.6%. Billionaire Dan Loeb calls Delphi one of his cheap stock picks (see all of them here).
One of Dell's big selloffs was WEX Inc ( WXS ), which had previously been Dell's fourth largest holding and was 13.7% of the MSD's portfolio. WEX, formerly Wright Express Corporation, provides payment and information management solutions, including its top segment, fleet payment solutions, which provides customers with fleet vehicle payment processing services. It appears that WEX is expensive. WEX is currently trading at a price to earnings ratio of 31 times, which is nearly a 200% premium to the S&P 500 P/E ratio. On the other hand, its 5-year average premium to the S&P 500 is only 87%.
Don't Be Fooled
The big news for Michael Dell of late has been his plans to take his prized company, Dell Inc., private. However, I figured it would be worthwhile to take a break from the Dell buyout saga to see where else Michael Dell has his fortune invested. DineEquity is a big bet on a rebounding casual dining market, while Michael Dell's bets on Asbury and Delphi are broad bets on the auto market. I also like his bet on PVH, which will be quite a bet on the apparel industry, bringing together a number of top brands.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group, Inc.( ABG ) is MSD's secondlargestholding and makes up 20% of the firm's public equity portfolio. MSD Capital runs a niche portfolio that is heavily concentrated; this includes having over 85% of his total funds invested in the top four stocks. DineEquity owns and operates two restaurant chains, Applebee's Neighborhood Grill and International House of Pancakes (IHOP). | Asbury Automotive Group, Inc.( ABG ) is MSD's secondlargestholding and makes up 20% of the firm's public equity portfolio. He manages his personal wealth through MSD Capital, which invests in public equity, private equity and real estate. [/size] MSD Capital's Top Picks DineEquity Inc( DIN ) was MSD's top stock holding at the end of 2012, with over 32% of the fund invested in the company. | Asbury Automotive Group, Inc.( ABG ) is MSD's secondlargestholding and makes up 20% of the firm's public equity portfolio. [/size] MSD Capital's Top Picks DineEquity Inc( DIN ) was MSD's top stock holding at the end of 2012, with over 32% of the fund invested in the company. One of Dell's big selloffs was WEX Inc ( WXS ), which had previously been Dell's fourth largest holding and was 13.7% of the MSD's portfolio. | Asbury Automotive Group, Inc.( ABG ) is MSD's secondlargestholding and makes up 20% of the firm's public equity portfolio. Let's have a look at Michael Dell 's top picks for last quarter. Irrespective of the Warnaco acquisition, expected earnings growth appears to be robust. |
28980.0 | 2013-03-01 00:00:00 UTC | Penske Remains Neutral - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-remains-neutral-analyst-blog-2013-03-01 | nan | nan | On Feb 25, we maintained our Neutral recommendation on Penske Automotive Group Inc. ( PAG ), despite the challenging market condition for new and used cars and rising competition from the retail and service centers owned by original equipment manufacturers, due to its wide range of imported and luxury brands, which helps it to maintain a strong foothold in the U.S. and overseas markets.
Why Maintained?
Penske posted a 21.3% increase in profits to 57 cents per share in the fourth quarter of 2012 from 47 cents in the same quarter of 2011. Profit per share exceeded the Zacks Consensus Estimate by 4 cents. Net profits increased 19.5% to $51.0 million in the quarter from $42.7 million a year ago.
Revenues escalated 17.9% to $3.4 billion, including an 11.4% rise in same-store retail revenues in the quarter. Revenues were marginally higher than the Zacks Consensus Estimate of $3.3 billion.
Following the release of the fourth quarter results, the Zacks Consensus Estimate for fiscal 2013 increased 2.8% to $2.54 per share. The Zacks Consensus Estimate for fiscal 2014 also went up 3.6% to $2.86 per share.
Penske benefits from its diversified revenue stream. A significant portion of the company's profit is derived from higher-margin service and parts sales, which are less cyclical than retail vehicle sales and thus provides stability to the company.
In addition, the company benefit from its expansion strategy. It has expanded its global presence by closing accretive acquisitions in Northern Ireland and Italy. It has also expanded its footprint domestically by entering the Madison, WI market.
However, the company faces tough competition from the retail as well as service centers owned by OEMs. In addition, the retail vehicle market in the U.S. remains challenging for both new and used car sales volume.
Other Stocks to Look For
Few stocks that are performing well in the industry where Penske operates are Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and America's Car-Mart Inc. ( CRMT ). All these stocks carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other Stocks to Look For Few stocks that are performing well in the industry where Penske operates are Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and America's Car-Mart Inc. ( CRMT ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. On Feb 25, we maintained our Neutral recommendation on Penske Automotive Group Inc. ( PAG ), despite the challenging market condition for new and used cars and rising competition from the retail and service centers owned by original equipment manufacturers, due to its wide range of imported and luxury brands, which helps it to maintain a strong foothold in the U.S. and overseas markets. | Other Stocks to Look For Few stocks that are performing well in the industry where Penske operates are Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and America's Car-Mart Inc. ( CRMT ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Following the release of the fourth quarter results, the Zacks Consensus Estimate for fiscal 2013 increased 2.8% to $2.54 per share. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Other Stocks to Look For Few stocks that are performing well in the industry where Penske operates are Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and America's Car-Mart Inc. ( CRMT ). On Feb 25, we maintained our Neutral recommendation on Penske Automotive Group Inc. ( PAG ), despite the challenging market condition for new and used cars and rising competition from the retail and service centers owned by original equipment manufacturers, due to its wide range of imported and luxury brands, which helps it to maintain a strong foothold in the U.S. and overseas markets. | Other Stocks to Look For Few stocks that are performing well in the industry where Penske operates are Asbury Automotive Group, Inc. ( ABG ), Lithia Motors Inc. ( LAD ) and America's Car-Mart Inc. ( CRMT ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. On Feb 25, we maintained our Neutral recommendation on Penske Automotive Group Inc. ( PAG ), despite the challenging market condition for new and used cars and rising competition from the retail and service centers owned by original equipment manufacturers, due to its wide range of imported and luxury brands, which helps it to maintain a strong foothold in the U.S. and overseas markets. |
28981.0 | 2013-02-28 00:00:00 UTC | Copart Beats Estimates - Analyst Blog | ABG | https://www.nasdaq.com/articles/copart-beats-estimates-analyst-blog-2013-02-28 | nan | nan | Copart, Inc. ( CPRT ) reported earnings per share of 38 cents in the second quarter of fiscal 2013 ended Jan 31, 2013, up 22.6% from 31 cents in the corresponding quarter last year. The quarterly EPS surpassed the Zacks Consensus Estimate by a penny. In absolute terms, adjusted profits improved 31.4% to $53.34 million from $40.6 million in the year-ago quarter.
Profits in the reported quarter were affected by additional costs of $11.9 million or 6 cents per share associated with hurricane Sandy. Implementation of ERP system also resulted in incremental costs of $1.8 million or 1 cent during the quarter.
The company's revenues went up 16.8% to $266.2 million in the quarter, beating the Zacks Consensus Estimate of $246.0 million. Service revenues augmented 16.1% to $216.9 million and revenues from vehicles sale went up 20% to $49.3 million.
Gross profits decreased 2.9% to $96.8 million (36.4% of sales) from $99.7 million (or 43.7%) in the year-ago quarter due to higher operating costs and expenses. Consequently, operating income dropped 1.2% to $62.8 million from $63.5 million recorded in the second quarter of fiscal 2012. Operating margin was 23.6% compared with 27.9% in the year-ago quarter.
Financial Details
Copart had cash and cash equivalents of $49.5 million as of Jan 31, 2013 versus $140.1 million as of Jul 31, 2012. Total debt and capital lease obligations amounted to $408.2 million as of Jan 31, 2013 compared with $444.1 million as of Jul 31, 2012.
During the first six months of fiscal 2013, the company generated net cash flow of $53.1 million from operations compared with $90.3 million in the same period a year ago. Capital spending was $108.7 million compared with $14.3 million in the first half of fiscal 2012.
Our Take
Copart is a provider of online auctions and vehicle remarketing services in the U.S., Canada, U.K. and U.A.E. and operates 162 facilities. The company provides a wide range of remarketing services to vehicle suppliers, primarily insurance companies, to process and sell salvage vehicles mainly over the Internet through the company's Virtual Bidding Internet auction-style sales technology. The company currently retains a Zacks Rank #3 (Hold).
A few stocks that are also performing well in the industry where Copart operates are Sotheby's ( BID ), CarMax Inc. ( KMX ) and Asbury Automotive Group, Inc. ( ABG ). They carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A few stocks that are also performing well in the industry where Copart operates are Sotheby's ( BID ), CarMax Inc. ( KMX ) and Asbury Automotive Group, Inc. ( ABG ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report SOTHEBYS (BID): Free Stock Analysis Report COPART INC (CPRT): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report To read this article on Zacks.com click here. Profits in the reported quarter were affected by additional costs of $11.9 million or 6 cents per share associated with hurricane Sandy. | A few stocks that are also performing well in the industry where Copart operates are Sotheby's ( BID ), CarMax Inc. ( KMX ) and Asbury Automotive Group, Inc. ( ABG ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report SOTHEBYS (BID): Free Stock Analysis Report COPART INC (CPRT): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report To read this article on Zacks.com click here. Copart, Inc. ( CPRT ) reported earnings per share of 38 cents in the second quarter of fiscal 2013 ended Jan 31, 2013, up 22.6% from 31 cents in the corresponding quarter last year. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report SOTHEBYS (BID): Free Stock Analysis Report COPART INC (CPRT): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report To read this article on Zacks.com click here. A few stocks that are also performing well in the industry where Copart operates are Sotheby's ( BID ), CarMax Inc. ( KMX ) and Asbury Automotive Group, Inc. ( ABG ). The company's revenues went up 16.8% to $266.2 million in the quarter, beating the Zacks Consensus Estimate of $246.0 million. | A few stocks that are also performing well in the industry where Copart operates are Sotheby's ( BID ), CarMax Inc. ( KMX ) and Asbury Automotive Group, Inc. ( ABG ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report SOTHEBYS (BID): Free Stock Analysis Report COPART INC (CPRT): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report To read this article on Zacks.com click here. The company's revenues went up 16.8% to $266.2 million in the quarter, beating the Zacks Consensus Estimate of $246.0 million. |
28982.0 | 2013-02-22 00:00:00 UTC | Lithia Motors Beats Estimates - Analyst Blog | ABG | https://www.nasdaq.com/articles/lithia-motors-beats-estimates-analyst-blog-2013-02-22 | nan | nan | Lithia MotorsInc. ( LAD ) posted a 54.2% increase in adjusted earnings per share to 74 cents in the fourth quarter of 2012 from 48 cents in the corresponding quarter last year. The quarterly EPS surpassed the Zacks Consensus Estimate by 7 cents. In absolute terms, profits shot up 52% to $19.3 million from $12.7 million in the year-ago quarter.
Revenues for the quarter increased 26.2% to $877.4 million from $695.3 million in the year-ago quarter. The growth in revenues was driven by better performance across all the segments, with finance and insurance business and new vehicle sales being the bright spots. Revenues were ahead of the Zacks Consensus Estimate of $825.0 million.
Revenues from new vehicle sales improved 32.7% to $506.9 million in the quarter. New vehicle retail sales increased 31.8% to 14,713 units. However, revenues per vehicle increased marginally by 1% to $34,451. On a same-store basis, revenues from new vehicle sales went up 30.8% to $490.0 million.
Revenues from used vehicle retail climbed 22.5% to $208.4 million in the quarter. Revenues from used vehicle wholesale crept up 2.6% to $35.8 million. Used vehicle retail sales improved 21.7% to 11,943 units with revenues per vehicle increasing marginally by 1% to $17,447. Same-store revenues from used vehicle sales went up 20.1% to $200.4 million.
Revenues from service body and parts went up 9.3% to $89.7 million. Meanwhile, the company's finance and insurance business witnessed a 30.6% rise in revenues to $29.2 million. Revenues from Fleet and other shot up 87.4% to $7.5 million.
Gross profit increased 22.6% to $138.4 million from $112.9 million in the year-ago quarter. Operating income improved 23% to $36.8 million from $29.9 million in the fourth quarter of 2011.
For 2012, Lithia Motors reported adjusted earnings of $2.96 per share, up 51.8% from $1.95 a year ago. Net income surged 48.8% to $77.4 million from $52.0 million in 2011. The company's revenues for the year increased 26% to $3.3 billion from $2.6 billion in 2011, driven by better performance across all the businesses.
Financial Details
Lithia Motors had cash and cash equivalents of $42.8 million as of Dec 31, 2012, up from $20.9 million as of Dec 31, 2011. Total debt was $295.1 million as of Dec 31, 2012 compared with $286.9 million as of Dec 31, 2011.
The company had an operating cash outflow of $212.5 million in the full year 2012 compared to a cash outflow of $766.0 thousand in the corresponding period of 2011.
Outlook
Lithia Motors expects earnings in the range of 69 cents to 71 cents per share for the first quarter of 2013 and $3.25 to $3.35 for the full year 2013. The company expects revenues between $3.7 billion and $3.8 billion for 2013, with an 11.5% increase in new vehicle same-store sales and a 9% rise in used vehicle same-store sales. Same-store sales from service body and parts are expected to improve 5%. The company also expects capital expenditures of $55 million and a tax rate of 39.5% for 2013.
Our Take
Lithia Motors is the ninth largest automotive retailer in U.S. With 87 stores in 11 states, the company provides 27 new vehicle brands along with all brands of used vehicle. Currently, it retains a Zacks Rank #2 (Buy).
Besides Lithia, America's Car-Mart Inc. ( CRMT ), A sbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ) are performing well in the same industry where it operates. All of them hold a Zacks Rank #2 (Buy)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Besides Lithia, America's Car-Mart Inc. ( CRMT ), A sbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ) are performing well in the same industry where it operates. All of them hold a Zacks Rank #2 (Buy) ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. The growth in revenues was driven by better performance across all the segments, with finance and insurance business and new vehicle sales being the bright spots. | Besides Lithia, America's Car-Mart Inc. ( CRMT ), A sbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ) are performing well in the same industry where it operates. All of them hold a Zacks Rank #2 (Buy) ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. The company expects revenues between $3.7 billion and $3.8 billion for 2013, with an 11.5% increase in new vehicle same-store sales and a 9% rise in used vehicle same-store sales. | All of them hold a Zacks Rank #2 (Buy) ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Besides Lithia, America's Car-Mart Inc. ( CRMT ), A sbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ) are performing well in the same industry where it operates. Revenues for the quarter increased 26.2% to $877.4 million from $695.3 million in the year-ago quarter. | Besides Lithia, America's Car-Mart Inc. ( CRMT ), A sbury Automotive Group, Inc. ( ABG ) and Penske Automotive Group, Inc. ( PAG ) are performing well in the same industry where it operates. All of them hold a Zacks Rank #2 (Buy) ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMERICAS CAR-MT (CRMT): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues from new vehicle sales improved 32.7% to $506.9 million in the quarter. |
28983.0 | 2013-02-21 00:00:00 UTC | Group 1 Auto Misses Estimates - Analyst Blog | ABG | https://www.nasdaq.com/articles/group-1-auto-misses-estimates-analyst-blog-2013-02-21 | nan | nan | Group 1 Automotive Inc. ( GPI ) posted a 5.3% rise in earnings per share to 99 cents in the fourth quarter of 2012 from 94 cents in the prior-year quarter but missed the Zacks Consensus Estimate by 21 cents. Net income grew 9.4% to $24.0 million from $22.0 million in the fourth quarter of 2011.
Revenues increased 19.3% to $1.9 billion, driven by strong retail new vehicle and used vehicle unit sales. Revenues from new vehicle sales escalated 22.3% to $1.2 billion on a 20.8% increase in unit sales to 33,164 vehicles. Revenues from retailed used vehicles boosted 16.6% to $423.3 million on a 13.5% increase in unit sales to 20,180 vehicles.
Revenues from wholesaled used vehicles went up 17.3% to $69.7 million. Used vehicles wholesaled increased 19.6% to 10,469 units. Revenues from parts and service business scaled up 8.3% to $221.7 million. The company's finance and insurance business witnessed a 26.7% rise in revenues to $67.7 million.
Gross profit increased 14.0% to $280.3 million in the quarter due to higher revenues. New vehicle gross profit rose 12.4% to $64.2 million but gross profit per unit sold dipped 7% to $1,937. Retail used vehicle gross profit swelled 13.9% to $33.0 million while gross profit per unit sold rose marginally by 0.3% to $1,637. Wholesale used vehicles gross profit plunged 50.8% to $60 thousand due to higher cost of sales while gross profit per unit sold fell 57.1% to only $6.
Parts and service gross profit went up 8.6% to $115.2 million on higher revenues. Finance and insurance gross profit rose 26.7% to $67.7 million while gross profit per unit increased 7.4% to an all-time record $1,270, as penetration rates improved in both finance and vehicle service contracts.
Operating income declined 7.8% to $45.9 million due to higher selling, general and administrative expenses and asset impairments. Consequently, adjusted operating margin went down to 2.9% from 3.2% in the last year's quarter.
For full year 2012, EPS surged 25.1% to $4.53 from $3.62 in 2011 while net income increased 25.8% to $108.2 million from $86.0 million in 2011. Revenues went up 23.0% to $7.5 billion.
Group 1 Automotive had cash and cash equivalents of $4.7 million as of Dec 31, 2012, significantly down from $14.9 million as of Dec 31, 2011. Total debt amounted to $263.6 million as of Dec 31, 2012, reflecting a debt-to-capitalization ratio of 23.5%, compared with $198.9 million and a debt-to-capitalization ratio of 19.8% as of Dec 31, 2011. In 2012, the company had cash flow from operating activities of $159.2 million, up 4.6% from $152.3 million in the prior year.
Headquartered in Memorial City of Houston, Texas, Group 1 Automotive was founded in 1997. The company is one of the largest automotive retailers in U.S., which provides 31 automotive brands. It has 120 automotive dealerships, 156 franchises and 31 collision centers in the U.S. and the U.K.
Currently, Group 1 Auto retains a Zacks #2 Rank, which translates into a short-term (1 to 3 months) Buy rating. Other stocks from the same industry that we would like to prefer include Lithia Motors ( LAD ), Penske Automotive Group ( PAG ) and Asbury Automotive Group ( ABG ). They carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other stocks from the same industry that we would like to prefer include Lithia Motors ( LAD ), Penske Automotive Group ( PAG ) and Asbury Automotive Group ( ABG ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Finance and insurance gross profit rose 26.7% to $67.7 million while gross profit per unit increased 7.4% to an all-time record $1,270, as penetration rates improved in both finance and vehicle service contracts. | Other stocks from the same industry that we would like to prefer include Lithia Motors ( LAD ), Penske Automotive Group ( PAG ) and Asbury Automotive Group ( ABG ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Retail used vehicle gross profit swelled 13.9% to $33.0 million while gross profit per unit sold rose marginally by 0.3% to $1,637. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Other stocks from the same industry that we would like to prefer include Lithia Motors ( LAD ), Penske Automotive Group ( PAG ) and Asbury Automotive Group ( ABG ). Retail used vehicle gross profit swelled 13.9% to $33.0 million while gross profit per unit sold rose marginally by 0.3% to $1,637. | Other stocks from the same industry that we would like to prefer include Lithia Motors ( LAD ), Penske Automotive Group ( PAG ) and Asbury Automotive Group ( ABG ). ASBURY AUTO GRP (ABG): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Gross profit increased 14.0% to $280.3 million in the quarter due to higher revenues. |
28984.0 | 2013-02-19 00:00:00 UTC | Charges Hurt Barrick in 4Q - Analyst Blog | ABG | https://www.nasdaq.com/articles/charges-hurt-barrick-in-4q-analyst-blog-2013-02-19 | nan | nan | Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) fell to $1.11 per share in the fourth quarter of 2012 from $1.17 per share in the year-ago quarter, but exceeded the Zacks Consensus Estimate of $1.09.
On a reported basis, the company slipped to a loss of $3.06 billion or $3.06 per share compared with profit of $0.96 billion or 96 cents per share in the year-ago quarter. The bottom line was hit by tax impairment charges of $4.2 billion, mainly related to the company's copper business.
For ful-year 2012, adjusted earnings were $3.82 per share, down 18.2% year over year, missing the Zacks Consensus Estimate of $4.11. After including tax impairment charges, the company reported a loss of 66 cents per share compared with earnings of $4.49 per share a year ago.
Revenues jumped 11.4% year over year to $4,189 million in the reported quarter and exceeded the Zacks Consensus Estimate of $4,044 million. Average realized price of gold increased 3% year over year to $1,714 per ounce. C1 cash cost of copper increased 5.6% year over year to $2.07 per pound.
Gold production jumped to 2.02 million ounces in the quarter from 1.81 million ounces a year-ago. Copper production declined to 130 million pounds from 143 million pounds in the prior year.
For the full year, revenues increased 2.2% year over year to $14,547 million but missed the Zacks Consensus Estimate of $15,029 million.
Regional Results
North America: Barrick's North American unit produced 0.96 million ounces of gold in the quarter at total cash costs of $482 per ounce compared with 0.76 million ounces at total cash costs of $498 per ounce a year ago. Production at Goldstrike was lower, reflecting lower grades and lower tons processed through the autoclave.
South America: Production from South America in the quarter was 0.46 million ounces at total cash costs of $528 per ounce compared with 0.45 million ounces at cash costs of $357 per ounce.
Australia Pacific: The region produced 0.47 million ounces in the quarter, compared with 0.49 million ounces in the year-ago quarter. Total cash costs were $801 per ounce in the reported quarter compared with $677 per ounce last year.
African Barrick Gold plc. (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.13 million ounces at total cash cost of $958 per ounce compared with 0.12 million ounces at total cash cost of $779 per ounce in the prior-year quarter.
Financial Position
Cash and cash equivalents stood at $2,093 million as of Dec 31, 2012, compared with $2,745 million as of Dec 31, 2011. Net debt was roughly $11.6 billion at the end of 2012 versus $10.3 billion at the end of 2011. Operating cash flow was a record $5.44 billion in 2012 compared with $5.32 billion in 2011.
Project Updates
The company said that the Pascua-Lama mine, which is the highest gold mine in the world, will produce an average of 800,000-850,000 ounces of gold and 35 million ounces of silver in its first full five years of operation at total cash costs of $0.00 to negative $150 per ounce. During the fourth quarter, the cost estimate and schedule for the project was finalized.
Outlook
Barrick expects to produce 7-7.4 million ounces of gold in 2013 at total cash costs of $610-$660 per ounce. Copper production in 2013 is expected to increase to 480-540 million pounds, primarily reflecting improved production from Lumwana. Total C1 cash costs are expected to be in the range of $2.10-$2.30 per pound.
For 2013, production for the North American region is expected in the range of 3.55-3.70 million ounces at total cash costs of $495-$545 per ounce. The company expects ramp up of Pueblo Viejo to full production in the second half, partly offset by lower expected production from Goldstrike and Cortez.
Production from South America is expected to be in the range of 1.25-1.35 million ounces in 2013 at total cash costs of $550-$600 per ounce. Australia Pacific is expected to produce 1.70-1.85 million ounces this year at total cash cost of roughly $880-$950 per ounce. Barrick's share of production at ABG is expected to be in the range of 0.40-0.45 million ounces at total cash cost of $925-$975 per ounce for 2013.
Barrick expects total capital expenditures of $5.7-$6.3 billion in 2013, reflecting accounting changes that result in higher capitalization of operating costs associated with waste stripping and capitalization of Goldrush exploration expenses.
Currently, Barrick retains Zacks Rank #4 (Sell).
Other companies in the gold mining industry having favorable Zacks Rank are AngloGold Ashanti Ltd. ( AU ), Banro Corporation ( BAA ) and Primero Mining Corp. ( PPP ). All three hold a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.13 million ounces at total cash cost of $958 per ounce compared with 0.12 million ounces at total cash cost of $779 per ounce in the prior-year quarter. Barrick's share of production at ABG is expected to be in the range of 0.40-0.45 million ounces at total cash cost of $925-$975 per ounce for 2013. Barrick Gold Corporation 's ( ABX ) adjusted earnings (excluding one-time items) fell to $1.11 per share in the fourth quarter of 2012 from $1.17 per share in the year-ago quarter, but exceeded the Zacks Consensus Estimate of $1.09. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.13 million ounces at total cash cost of $958 per ounce compared with 0.12 million ounces at total cash cost of $779 per ounce in the prior-year quarter. Barrick's share of production at ABG is expected to be in the range of 0.40-0.45 million ounces at total cash cost of $925-$975 per ounce for 2013. Regional Results North America: Barrick's North American unit produced 0.96 million ounces of gold in the quarter at total cash costs of $482 per ounce compared with 0.76 million ounces at total cash costs of $498 per ounce a year ago. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.13 million ounces at total cash cost of $958 per ounce compared with 0.12 million ounces at total cash cost of $779 per ounce in the prior-year quarter. Barrick's share of production at ABG is expected to be in the range of 0.40-0.45 million ounces at total cash cost of $925-$975 per ounce for 2013. Regional Results North America: Barrick's North American unit produced 0.96 million ounces of gold in the quarter at total cash costs of $482 per ounce compared with 0.76 million ounces at total cash costs of $498 per ounce a year ago. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.13 million ounces at total cash cost of $958 per ounce compared with 0.12 million ounces at total cash cost of $779 per ounce in the prior-year quarter. Barrick's share of production at ABG is expected to be in the range of 0.40-0.45 million ounces at total cash cost of $925-$975 per ounce for 2013. Total cash costs were $801 per ounce in the reported quarter compared with $677 per ounce last year. |
28985.0 | 2013-02-08 00:00:00 UTC | AutoNation Upgraded to Outperform - Analyst Blog | ABG | https://www.nasdaq.com/articles/autonation-upgraded-to-outperform-analyst-blog-2013-02-08 | nan | nan | On Feb 7, we upgraded AutoNation Inc. ( AN ) to Outperform based on its optimal brand and market mix, which is driving the sales of new vehicles. Further, the upgrade was based on the company's continued focus on dealership network expansion by investing in existing stores and service centers.
Why the Upgrade?
AutoNation posted a 31.4% increase in earnings per share to 67 cents in the fourth quarter of 2012 from 51 cents in the corresponding quarter last year. With this, profits surpassed the Zacks Consensus Estimate by a couple of cents.
Revenues for the quarter increased 13.5% to $4.2 billion. The growth in revenues was driven by strong performance of all the businesses. Revenues were ahead of the Zacks Consensus Estimate of $4.0 billion.
Following the release of the fourth quarter results, the Zacks Consensus Estimate for 2013 increased 1.4% to $2.91 per share. Meanwhile, the Zacks Consensus Estimate for 2014 increased 2.5% to $3.26 per share.
AutoNation is set to witness higher margins due to its product mix, focus on selling parts and services, such as insurance, finance and aftermarket product services. In addition, the company's new vehicle sales have been improving at a fast pace. In the fourth quarter of 2012, the company's retail new vehicle unit sales increased 17%.
Other Stocks to Consider
Rush Enterprises, Inc. ( RUSHA ), Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ) are performing well in the same industry where AutoNation operates. Rush Enterprises and Asbury Automotive are Zacks Rank #1 (Strong Buy) stocks while Group 1 carries a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other Stocks to Consider Rush Enterprises, Inc. ( RUSHA ), Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ) are performing well in the same industry where AutoNation operates. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. On Feb 7, we upgraded AutoNation Inc. ( AN ) to Outperform based on its optimal brand and market mix, which is driving the sales of new vehicles. | Other Stocks to Consider Rush Enterprises, Inc. ( RUSHA ), Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ) are performing well in the same industry where AutoNation operates. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Rush Enterprises and Asbury Automotive are Zacks Rank #1 (Strong Buy) stocks while Group 1 carries a Zacks Rank #2 (Buy). | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. Other Stocks to Consider Rush Enterprises, Inc. ( RUSHA ), Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ) are performing well in the same industry where AutoNation operates. AutoNation posted a 31.4% increase in earnings per share to 67 cents in the fourth quarter of 2012 from 51 cents in the corresponding quarter last year. | Other Stocks to Consider Rush Enterprises, Inc. ( RUSHA ), Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ) are performing well in the same industry where AutoNation operates. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report RUSH ENTRPRS-A (RUSHA): Free Stock Analysis Report To read this article on Zacks.com click here. On Feb 7, we upgraded AutoNation Inc. ( AN ) to Outperform based on its optimal brand and market mix, which is driving the sales of new vehicles. |
28986.0 | 2013-01-31 00:00:00 UTC | AutoNation Beats Estimates - Analyst Blog | ABG | https://www.nasdaq.com/articles/autonation-beats-estimates-analyst-blog-2013-01-31 | nan | nan | AutoNation Inc. ( AN ) posted a 31.4% increase in earnings per share from continuing operations to 67 cents in the fourth quarter of 2012 from 51 cents in the corresponding quarter last year. With this, profits surpassed the Zacks Consensus Estimate by 2 cents. In absolute terms, profits escalated 16.3% to $82.9 million from $71.3 million in the year-ago quarter.
Revenues for the quarter increased 13.5% to $4.2 billion from $3.7 billion in the year-ago quarter. The growth in revenues was driven by strong performance of all the businesses. Revenues were ahead of the Zacks Consensus Estimate of $4.0 billion.
AutoNation reported adjusted earnings from continuing operation of $2.54 per share for 2012, up 30.9% from $1.94 a year ago. Net income increased 12% to $319.9 million from $285.6 million in 2011. The company's revenues for the year increased 13.3% to $15.7 billion from $13.8 billion in 2011, driven by better performance in all the businesses.
AutoNation announced the launch of AutoNation brand. The company will be marketing 210 Domestic and Import franchises under this brand. The transition will be taking place for 23 manufacturer brands from Feb 1 in South Florida and will close by the second quarter of 2013. This strategy will support the company in maintaining its leadership, transparency and customer service.
Revenues from new vehicle sales improved 18.7% to $2.5 billion in the quarter. New vehicle retail sales increased 17.9% to 70,957 units. However, revenues per vehicle increased marginally by 1% to $34,894. On a same-store basis, new vehicle retail sales went up 17.4% to 70,644 units.
Revenues from used vehicle (retail and wholesale) crept up 3.4% to $912.1 million in the quarter. Used vehicle retail sales improved 2.5% to 42,987 units with revenues per vehicle increasing 2.1% to $18,342. Same-store used vehicle sales rose 1.8% to 42,711 units.
Revenues from parts and services went up 4.7% to $600.0 million. Meanwhile, the company's finance and insurance business witnessed a 19.2% rise in revenues to $148.9 million.
Gross profit increased 9.3% to $632.8 million from $579.2 million in the year-ago quarter. The improvement was driven by higher gross profit earned from the finance and insurance and used vehicle businesses.
Gross profit per new vehicle retailed decreased 10.7% to $2,189 while gross profit per used vehicle retailed rose 6.1% to $1,575. Gross profit from finance and insurance per vehicle retailed swelled 6.9% to $1,307. Operating income improved 17.6% to $168.7 million from $143.5 million in the fourth quarter of 2011.
Segment Detail
Revenues in the Domestic segment improved 9.3% to $1.3 billion. Unit sales augmented 9% to 21,862 vehicles. Segment operating income improved 22.9% to $54.2 million from $44.1 million in the fourth quarter of 2011.
In 2012, the segment recorded a 10.2% rise in revenues to $5.1 billion with 12.6% increase in unit sales to 85,947 vehicles. Segment operating income went up 16.3% to $209.4 million from $180.0 million in 2011.
Revenues from the Import segment increased 17.9% to $1.5 billion. Unit sales surged 23.7% to 33,607 automobiles. Segment operating income increased 22.3% to $59.8 million from $48.9 million a year ago.
In 2012, the Import segment recorded a 18.2% rise in revenues to $5.8 billion with a 26.1% increase in unit sales to 133,938 vehicles. Segment operating income went up 13.6% to $257.9 million from $227.1 million in 2011.
Revenues in the Premium Luxury segment went up 13.5% to $1.4 billion. Unit sales rose 19.5% to 15,488 vehicles. Segment operating income climbed 9.5% to $80.4 million from $73.4 million in the corresponding quarter last year.
In 2012, segment revenues went up 11.2% to $4.6 billion driven by a 15.4% rise in unit sales to 47,925 vehicles. Segment operating income climbed 10.8% to $270.4 million from $244.1 million in 2011.
Financial Details
AutoNation's cash and cash equivalents decreased to $69.7 million as of Dec 31, 2012 from $86.6 million as of Dec 31, 2011. The company's inventory was valued at $2.4 billion as of Dec 31, 2012 versus $1.8 billion as of Dec 31, 2011. Meanwhile, capital expenditures increased to $183.6 million in 2012 from $158.1 million in 2011.
Our Take
Headquartered in Fort Lauderdale, Florida, AutoNation is the largest automotive retailer in the U.S. The company owns and operates about 264 new vehicle franchises that sell 32 brands located in the major metropolitan markets across 15 states.
The company offers an array of automotive products and services, ranging from new vehicles, used vehicles, vehicle maintenance and repair services, vehicle parts, vehicle protection products to other aftermarket products. It retains a Zacks Rank #2 (Buy).
Lithia Motors Inc. ( LAD ), Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ) are performing well in the same industry where AutoNation operates. Lithia Motors and Asbury Automotive are Zacks Rank #1 (Strong Buy) stocks while Group 1 Automotive carries a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Lithia Motors Inc. ( LAD ), Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ) are performing well in the same industry where AutoNation operates. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. The transition will be taking place for 23 manufacturer brands from Feb 1 in South Florida and will close by the second quarter of 2013. | Lithia Motors Inc. ( LAD ), Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ) are performing well in the same industry where AutoNation operates. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Lithia Motors and Asbury Automotive are Zacks Rank #1 (Strong Buy) stocks while Group 1 Automotive carries a Zacks Rank #2 (Buy). | Lithia Motors Inc. ( LAD ), Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ) are performing well in the same industry where AutoNation operates. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Used vehicle retail sales improved 2.5% to 42,987 units with revenues per vehicle increasing 2.1% to $18,342. | Lithia Motors Inc. ( LAD ), Asbury Automotive Group, Inc. ( ABG ) and Group 1 Automotive Inc. ( GPI ) are performing well in the same industry where AutoNation operates. ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report GROUP 1 AUTO (GPI): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues from new vehicle sales improved 18.7% to $2.5 billion in the quarter. |
28987.0 | 2013-01-31 00:00:00 UTC | Zacks Rank #1 Addition for Thursday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-rank-1-addition-for-thursday-tale-of-the-tape-2013-01-31 | nan | nan | Here are 5 stocks added to the Zacks Rank #1 ("strong buy") List today:
Advanced Semiconductor Engineering (ADR) ( ASX )
Amyris Inc. ( AMRS )
Arbitron Inc. ( ARB )
Armstrong World Industries, Inc. ( AWI )
Asbury Automotive Group, Inc. ( ABG )
View the entire Zacks Rank #1 List .
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AMYRIS INC (AMRS): Free Stock Analysis Report
ARBITRON INC (ARB): Free Stock Analysis Report
ADV SEMICON ADR (ASX): Free Stock Analysis Report
ARMSTRONG WORLD (AWI): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 ("strong buy") List today: Advanced Semiconductor Engineering (ADR) ( ASX ) Amyris Inc. ( AMRS ) Arbitron Inc. ( ARB ) Armstrong World Industries, Inc. ( AWI ) Asbury Automotive Group, Inc. ( ABG ) View the entire Zacks Rank #1 List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMYRIS INC (AMRS): Free Stock Analysis Report ARBITRON INC (ARB): Free Stock Analysis Report ADV SEMICON ADR (ASX): Free Stock Analysis Report ARMSTRONG WORLD (AWI): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks Rank #1 ("strong buy") List today: Advanced Semiconductor Engineering (ADR) ( ASX ) Amyris Inc. ( AMRS ) Arbitron Inc. ( ARB ) Armstrong World Industries, Inc. ( AWI ) Asbury Automotive Group, Inc. ( ABG ) View the entire Zacks Rank #1 List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMYRIS INC (AMRS): Free Stock Analysis Report ARBITRON INC (ARB): Free Stock Analysis Report ADV SEMICON ADR (ASX): Free Stock Analysis Report ARMSTRONG WORLD (AWI): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMYRIS INC (AMRS): Free Stock Analysis Report ARBITRON INC (ARB): Free Stock Analysis Report ADV SEMICON ADR (ASX): Free Stock Analysis Report ARMSTRONG WORLD (AWI): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Here are 5 stocks added to the Zacks Rank #1 ("strong buy") List today: Advanced Semiconductor Engineering (ADR) ( ASX ) Amyris Inc. ( AMRS ) Arbitron Inc. ( ARB ) Armstrong World Industries, Inc. ( AWI ) Asbury Automotive Group, Inc. ( ABG ) View the entire Zacks Rank #1 List . | Here are 5 stocks added to the Zacks Rank #1 ("strong buy") List today: Advanced Semiconductor Engineering (ADR) ( ASX ) Amyris Inc. ( AMRS ) Arbitron Inc. ( ARB ) Armstrong World Industries, Inc. ( AWI ) Asbury Automotive Group, Inc. ( ABG ) View the entire Zacks Rank #1 List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report AMYRIS INC (AMRS): Free Stock Analysis Report ARBITRON INC (ARB): Free Stock Analysis Report ADV SEMICON ADR (ASX): Free Stock Analysis Report ARMSTRONG WORLD (AWI): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28988.0 | 2013-01-31 00:00:00 UTC | Penske Raises Dividend - Analyst Blog | ABG | https://www.nasdaq.com/articles/penske-raises-dividend-analyst-blog-2013-01-31 | nan | nan | Penske Automotive Group, Inc. ( PAG ) approved a 7.7% rise in cash dividend to 14 cents per share for the fourth quarter of 2012 from 13 cents. The increased dividend will be paid on Mar 1, 2013 to shareholders of record as on Feb 11, 2013.
Penske raised its dividend by 8.3% to 13 cents for the third quarter of 2012 as well. In fact, the leading automotive retailer in the U.S. raised its dividend for all the quarters in 2012, reflecting its strong financial position. The company also raised its dividend for every quarter in 2011, except the first quarter. Prior to that, the company stalled its dividend for 2009 and 2010 owing to the financial crisis.
Penske, a Zacks Rank #2 (Buy), reported adjusted earnings per share of 60 cents for the third quarter of 2012, surpassing the Zacks Consensus Estimate by $0.03. The EPS increased 20% from 50 cents in the prior-year quarter.
Revenues in the quarter rose 17.4% to $3.40 billion, beating the Zacks Consensus Estimate of $3.26 billion. The revenue growth was attributable to a 23.6% increase in retail sales to 88,151 units. On a same-store basis, revenues improved 11.7% to $2.9 billion. Same-store retail sales increased 16.6% to 81,109 units in the quarter.
Revenues from new vehicle sales grew 21.5 % to $1.76 billion, driven by a 26.3% increase in retail sales to 48,307 units, partially offset by a 3.8% decline in average transaction price to $36,497. Revenues from used vehicle sales climbed 14.7% to $995.4 million owing to a 20.4% hike in retail sales to 39,844 units, partially offset by a 4.8% decline in average transaction price to $24,982.
Penske had cash and cash equivalents of $25.9 million and its long-term debt was almost flat at $830.8 million as of Sep 30, 2012 compared with $850.2 million as of Dec 31, 2011. Debt-to-capitalization ratio improved to 39.6% as of Sep 30, 2012 from 42.7% as of Dec 31, 2011.
Other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ) with Zacks Rank #1 (Buy) and AutoNation Inc. ( AN ) with Zacks Rank #2 (Buy).
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
AUTONATION INC (AN): Free Stock Analysis Report
LITHIA MOTORS (LAD): Free Stock Analysis Report
PENSKE AUTO GRP (PAG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ) with Zacks Rank #1 (Buy) and AutoNation Inc. ( AN ) with Zacks Rank #2 (Buy). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. In fact, the leading automotive retailer in the U.S. raised its dividend for all the quarters in 2012, reflecting its strong financial position. | Other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ) with Zacks Rank #1 (Buy) and AutoNation Inc. ( AN ) with Zacks Rank #2 (Buy). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Revenues from new vehicle sales grew 21.5 % to $1.76 billion, driven by a 26.3% increase in retail sales to 48,307 units, partially offset by a 3.8% decline in average transaction price to $36,497. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ) with Zacks Rank #1 (Buy) and AutoNation Inc. ( AN ) with Zacks Rank #2 (Buy). Penske, a Zacks Rank #2 (Buy), reported adjusted earnings per share of 60 cents for the third quarter of 2012, surpassing the Zacks Consensus Estimate by $0.03. | Other stocks that are performing well in the industry where Penske operates include Asbury Automotive Group, Inc. ( ABG ) and Lithia Motors Inc. ( LAD ) with Zacks Rank #1 (Buy) and AutoNation Inc. ( AN ) with Zacks Rank #2 (Buy). ASBURY AUTO GRP (ABG): Free Stock Analysis Report AUTONATION INC (AN): Free Stock Analysis Report LITHIA MOTORS (LAD): Free Stock Analysis Report PENSKE AUTO GRP (PAG): Free Stock Analysis Report To read this article on Zacks.com click here. Penske Automotive Group, Inc. ( PAG ) approved a 7.7% rise in cash dividend to 14 cents per share for the fourth quarter of 2012 from 13 cents. |
28989.0 | 2012-12-17 00:00:00 UTC | Asbury Automotive Group, Inc. Enters Oversold Territory - Tale of the Tape | ABG | https://www.nasdaq.com/articles/asbury-automotive-group-inc.-enters-oversold-territory-tale-of-the-tape-2012-12-17 | nan | nan | Asbury Automotive Group, Inc. 's ( ABG ) share price has entered into oversold territory with a stochastic value of 14.765. The Zacks Consensus Estimate on the company's earnings for year ending December 2012 increased by 13 cents over the past two months to $2.62 per share. Asbury Automotive Group, Inc. is a Zacks #1 Rank ("Strong Buy") company.
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group, Inc. 's ( ABG ) share price has entered into oversold territory with a stochastic value of 14.765. ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Consensus Estimate on the company's earnings for year ending December 2012 increased by 13 cents over the past two months to $2.62 per share. | Asbury Automotive Group, Inc. 's ( ABG ) share price has entered into oversold territory with a stochastic value of 14.765. ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group, Inc. 's ( ABG ) share price has entered into oversold territory with a stochastic value of 14.765. ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group, Inc. 's ( ABG ) share price has entered into oversold territory with a stochastic value of 14.765. ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Consensus Estimate on the company's earnings for year ending December 2012 increased by 13 cents over the past two months to $2.62 per share. |
28990.0 | 2012-11-07 00:00:00 UTC | Asbury Automotive Group - Value | ABG | https://www.nasdaq.com/articles/asbury-automotive-group-value-2012-11-07 | nan | nan | Asbury Automotive Group, Inc. ( ABG ) has been witnessing strong earnings momentum after delivering positive earnings surprises in 10 out of last 12 quarters with an average beat of 19.0%. This automotive retailer is benefiting from a favorable brand mix and continued improvement in the U.S. automotive retail market. With a meager price-to-sales (P/S) ratio of 0.20, this Zacks #1 Rank (Strong Buy) stock is a true value pick.
Robust EPS Growth in 3Q
On October 23, Asbury Automotive Group posted a hefty 71.4% year-over-year gain in third-quarter earnings to 72 cents per share, beating the Zacks Consensus Estimate by 12.5%. Revenues grew 14% to $1.2 billion.
New vehicle revenues increased 22.5% to $674.7 million, thanks to a 30% growth in revenues generated from mid-line import brands and 24% from luxury brands. Unit sales for mid- line import and luxury brands advanced 31% and 25%, respectively, due to a better inventory position and strong demand.
Asbury Automotive Group's used vehicle revenues went up 5.0% to $281.8 million in the quarter. Same store used vehicle unit sales rose 4%, driven by the "Asbury 1-2-1" vehicles trade-in program. This program not only boosted retail volume but revenues from associated parts and service reconditioning, as well as from the company's Finance & insurance business.
Earnings Estimates Moving Up
The Zacks Consensus Estimate for 2012 went up 5.2% in the past three months to $2.62 per share, driven by upward revisions from all 10 estimates. For 2013, the Zacks Consensus Estimate of $2.91 rose 5.4% in the past 90 days and 6.2% in the past two months based on upward revisions from all 10 estimates again. The estimates for 2012 and 2013 reflect year-over-year growth of 44.1% and 11.0%, respectively.
Valuation is Impressive
The price and consensus chart shows that the stock is undervalued as the 2011-2014 estimate lines are above the price line. Furthermore, the upward shifts in estimate lines indicate that the stock has significant opportunities for growth. The stock reached its 52-week high of $32.77 on November 1.
Asbury Automotive Group has strong value characteristics. In addition to a low P/S, it is currently trading at a forward P/E multiple of 11.8 and a P/B multiple of 2.5. (A P/S ratio lower than 1.0, a P/E below 15.0 and a P/B ratio under 3.0 generally indicate value.) It also has a PEG ratio of 0.54, which is less than one and indicates that the stock is reasonably valued given the expected growth of 22.0%. Moreover, the company's 1-year ROE of 22.3% is higher than its peer group average of 16.8%.
Headquartered in Duluth, Georgia, Asbury Automotive Group was founded in 1995. The $972.56 million company offers an extensive range of automotive products and services, including new and used vehicles; vehicle maintenance, replacement parts and collision repair services; and financing, insurance and service contracts. As of September 30, 2012, the company has offered 28 domestic and foreign brands of new vehicles and operated 97 franchises, including 79 dealership locations in 18 metropolitan markets in 10 states.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group, Inc. ( ABG ) has been witnessing strong earnings momentum after delivering positive earnings surprises in 10 out of last 12 quarters with an average beat of 19.0%. Learn More>> ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Robust EPS Growth in 3Q On October 23, Asbury Automotive Group posted a hefty 71.4% year-over-year gain in third-quarter earnings to 72 cents per share, beating the Zacks Consensus Estimate by 12.5%. | Asbury Automotive Group, Inc. ( ABG ) has been witnessing strong earnings momentum after delivering positive earnings surprises in 10 out of last 12 quarters with an average beat of 19.0%. Learn More>> ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Robust EPS Growth in 3Q On October 23, Asbury Automotive Group posted a hefty 71.4% year-over-year gain in third-quarter earnings to 72 cents per share, beating the Zacks Consensus Estimate by 12.5%. | Asbury Automotive Group, Inc. ( ABG ) has been witnessing strong earnings momentum after delivering positive earnings surprises in 10 out of last 12 quarters with an average beat of 19.0%. Learn More>> ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Robust EPS Growth in 3Q On October 23, Asbury Automotive Group posted a hefty 71.4% year-over-year gain in third-quarter earnings to 72 cents per share, beating the Zacks Consensus Estimate by 12.5%. | Asbury Automotive Group, Inc. ( ABG ) has been witnessing strong earnings momentum after delivering positive earnings surprises in 10 out of last 12 quarters with an average beat of 19.0%. Learn More>> ASBURY AUTO GRP (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Asbury Automotive Group's used vehicle revenues went up 5.0% to $281.8 million in the quarter. |
28991.0 | 2012-11-01 00:00:00 UTC | UPDATE: Barrick Gold Corp Shrs Down 9% at Midday As Q3 Misses, Production Cut, Higher Costs | ABG | https://www.nasdaq.com/articles/update-barrick-gold-corp-shrs-down-9-midday-q3-misses-production-cut-higher-costs-2012-11 | nan | nan | Barrick Gold Corp (ABX.TO) said third quarter net profit fell to $618 million or 62 cents per share, down from $1.37 billion or $1.37 per share a year earlier. On an adjusted basis, Barrick earned 85 cents per share, down from $1.38 per share, a year earlier. Analysts, on average, had expected earnings of 98 cents a share, according to Thomson Reuters I/B/E/S. It declared a quarterly dividend of US20 cents per share, payable on December 17, 2012 to shareholders of record at the close of business on November 30, 2012.
ABX is now trading at $36.78, down $3.61 from yesterday's close. Day range is $36.61 - 37.95.
Revenue dropped 13.5% to $3.4 billion on lower gold sales and prices.
Operating cash flow of $1.73 billion and adjusted operating cash flow of $1.27 billion for the quarter compared to operating cash flow of $1.90 billion and adjusted operating cash flow of $2.00 billion, respectively, in the same prior year period.
2012 Outlook:
The company expects 2012 gold production of 7.3-7.5 million ounces, within the original guidance range of 7.3-7.8 million ounces. Total cash costs for gold are anticipated to be $575-$585 per ounce, compared to the previous guidance of $550-$575 per ounce, primarily due to higher cash costs from Australia Pacific and African Barrick Gold ( ABG ). Net cash costs are anticipated to be $480-$500 per ounce, within the previous guidance of $460-$500 per ounce.
Full year 2012 copper production is expected to be about 450 million pounds as a result of the delay in first production at Jabal Sayid in Saudi Arabia. C1 cash costs in 2012 are still anticipated to be $2.10-$2.30 per pound.
Pascua-Lama Project Update:
During the quarter, Barrick made substantial progress at Pascua-Lama. Along with construction advancement at site, the company strengthened the construction management team and hired Fluor to assume overall project management. Fluor is a global leader in construction of large mining projects, and the same firm that successfully managed construction of our recently completed Pueblo Viejo mine.
In July, the company announced preliminary results of a review indicating an increase in capital costs to $7.5-$8.0 billion and a delay in first production to mid-2014. Since then, Barrick has been working with Fluor on a more comprehensive top-to-bottom review. This review will be complete by our 2012 year-end results release; however, work to date suggests capital costs will be closer to $8.0-$8.5 billion, with first production in the second half of 2014.
More than 5 million shares have changed hands, making it the second most actively traded on the TSX at midday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Total cash costs for gold are anticipated to be $575-$585 per ounce, compared to the previous guidance of $550-$575 per ounce, primarily due to higher cash costs from Australia Pacific and African Barrick Gold ( ABG ). It declared a quarterly dividend of US20 cents per share, payable on December 17, 2012 to shareholders of record at the close of business on November 30, 2012. In July, the company announced preliminary results of a review indicating an increase in capital costs to $7.5-$8.0 billion and a delay in first production to mid-2014. | Total cash costs for gold are anticipated to be $575-$585 per ounce, compared to the previous guidance of $550-$575 per ounce, primarily due to higher cash costs from Australia Pacific and African Barrick Gold ( ABG ). Barrick Gold Corp (ABX.TO) said third quarter net profit fell to $618 million or 62 cents per share, down from $1.37 billion or $1.37 per share a year earlier. Operating cash flow of $1.73 billion and adjusted operating cash flow of $1.27 billion for the quarter compared to operating cash flow of $1.90 billion and adjusted operating cash flow of $2.00 billion, respectively, in the same prior year period. | Total cash costs for gold are anticipated to be $575-$585 per ounce, compared to the previous guidance of $550-$575 per ounce, primarily due to higher cash costs from Australia Pacific and African Barrick Gold ( ABG ). Barrick Gold Corp (ABX.TO) said third quarter net profit fell to $618 million or 62 cents per share, down from $1.37 billion or $1.37 per share a year earlier. Operating cash flow of $1.73 billion and adjusted operating cash flow of $1.27 billion for the quarter compared to operating cash flow of $1.90 billion and adjusted operating cash flow of $2.00 billion, respectively, in the same prior year period. | Total cash costs for gold are anticipated to be $575-$585 per ounce, compared to the previous guidance of $550-$575 per ounce, primarily due to higher cash costs from Australia Pacific and African Barrick Gold ( ABG ). Barrick Gold Corp (ABX.TO) said third quarter net profit fell to $618 million or 62 cents per share, down from $1.37 billion or $1.37 per share a year earlier. 2012 Outlook: The company expects 2012 gold production of 7.3-7.5 million ounces, within the original guidance range of 7.3-7.8 million ounces. |
28992.0 | 2012-11-01 00:00:00 UTC | UPDATE: Barrick Gold Corp Shrs Down 7% On TSX As Q3 Misses, Production Cut, Higher Costs | ABG | https://www.nasdaq.com/articles/update-barrick-gold-corp-shrs-down-7-tsx-q3-misses-production-cut-higher-costs-2012-11-01 | nan | nan | Barrick Gold Corp (ABX.TO) said third quarter net profit fell to $618 million or 62 cents per share, down from $1.37 billion or $1.37 per share a year earlier. On an adjusted basis, Barrick earned 85 cents per share, down from $1.38 per share, a year earlier. Analysts, on average, had expected earnings of 98 cents a share, according to Thomson Reuters I/B/E/S. It declared a quarterly dividend of US20 cents per share, payable on December 17, 2012 to shareholders of record at the close of business on November 30, 2012.
Revenue dropped 13.5% to $3.4 billion on lower gold sales and prices.
Operating cash flow of $1.73 billion and adjusted operating cash flow of $1.27 billion for the quarter compared to operating cash flow of $1.90 billion and adjusted operating cash flow of $2.00 billion, respectively, in the same prior year period.
2012 Outlook:
The company expects 2012 gold production of 7.3-7.5 million ounces, within the original guidance range of 7.3-7.8 million ounces. Total cash costs for gold are anticipated to be $575-$585 per ounce, compared to the previous guidance of $550-$575 per ounce, primarily due to higher cash costs from Australia Pacific and African Barrick Gold ( ABG ). Net cash costs are anticipated to be $480-$500 per ounce, within the previous guidance of $460-$500 per ounce.
Full year 2012 copper production is expected to be about 450 million pounds as a result of the delay in first production at Jabal Sayid in Saudi Arabia. C1 cash costs in 2012 are still anticipated to be $2.10-$2.30 per pound.
Pascua-Lama Project Update:
During the quarter, Barrick made substantial progress at Pascua-Lama. Along with construction advancement at site, the company strengthened the construction management team and hired Fluor to assume overall project management. Fluor is a global leader in construction of large mining projects, and the same firm that successfully managed construction of our recently completed Pueblo Viejo mine.
In July, the company announced preliminary results of a review indicating an increase in capital costs to $7.5-$8.0 billion and a delay in first production to mid-2014. Since then, Barrick has been working with Fluor on a more comprehensive top-to-bottom review. This review will be complete by our 2012 year-end results release; however, work to date suggests capital costs will be closer to $8.0-$8.5 billion, with first production in the second half of 2014.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Total cash costs for gold are anticipated to be $575-$585 per ounce, compared to the previous guidance of $550-$575 per ounce, primarily due to higher cash costs from Australia Pacific and African Barrick Gold ( ABG ). It declared a quarterly dividend of US20 cents per share, payable on December 17, 2012 to shareholders of record at the close of business on November 30, 2012. In July, the company announced preliminary results of a review indicating an increase in capital costs to $7.5-$8.0 billion and a delay in first production to mid-2014. | Total cash costs for gold are anticipated to be $575-$585 per ounce, compared to the previous guidance of $550-$575 per ounce, primarily due to higher cash costs from Australia Pacific and African Barrick Gold ( ABG ). Barrick Gold Corp (ABX.TO) said third quarter net profit fell to $618 million or 62 cents per share, down from $1.37 billion or $1.37 per share a year earlier. Operating cash flow of $1.73 billion and adjusted operating cash flow of $1.27 billion for the quarter compared to operating cash flow of $1.90 billion and adjusted operating cash flow of $2.00 billion, respectively, in the same prior year period. | Total cash costs for gold are anticipated to be $575-$585 per ounce, compared to the previous guidance of $550-$575 per ounce, primarily due to higher cash costs from Australia Pacific and African Barrick Gold ( ABG ). Barrick Gold Corp (ABX.TO) said third quarter net profit fell to $618 million or 62 cents per share, down from $1.37 billion or $1.37 per share a year earlier. Operating cash flow of $1.73 billion and adjusted operating cash flow of $1.27 billion for the quarter compared to operating cash flow of $1.90 billion and adjusted operating cash flow of $2.00 billion, respectively, in the same prior year period. | Total cash costs for gold are anticipated to be $575-$585 per ounce, compared to the previous guidance of $550-$575 per ounce, primarily due to higher cash costs from Australia Pacific and African Barrick Gold ( ABG ). Barrick Gold Corp (ABX.TO) said third quarter net profit fell to $618 million or 62 cents per share, down from $1.37 billion or $1.37 per share a year earlier. On an adjusted basis, Barrick earned 85 cents per share, down from $1.38 per share, a year earlier. |
28993.0 | 2012-10-29 00:00:00 UTC | Zacks #1 Rank Additions for Monday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-1-rank-additions-for-monday-tale-of-the-tape-2012-10-29 | nan | nan | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
3D Systems Corp. ( DDD )
Asbury Automotive Group, Inc. ( ABG )
Bank Mutual Corp. ( BKMU )
Big 5 Sporting Goods Corp. ( BGFV )
BOK Financial Corp. ( BOKF )
View the entire Zacks #1 Rank List .
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
BIG 5 SPORTING (BGFV): Free Stock Analysis Report
BANK MUTUAL CRP (BKMU): Free Stock Analysis Report
BOK FINL CORP (BOKF): Free Stock Analysis Report
3D SYSTEMS CORP (DDD): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: 3D Systems Corp. ( DDD ) Asbury Automotive Group, Inc. ( ABG ) Bank Mutual Corp. ( BKMU ) Big 5 Sporting Goods Corp. ( BGFV ) BOK Financial Corp. ( BOKF ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report BIG 5 SPORTING (BGFV): Free Stock Analysis Report BANK MUTUAL CRP (BKMU): Free Stock Analysis Report BOK FINL CORP (BOKF): Free Stock Analysis Report 3D SYSTEMS CORP (DDD): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: 3D Systems Corp. ( DDD ) Asbury Automotive Group, Inc. ( ABG ) Bank Mutual Corp. ( BKMU ) Big 5 Sporting Goods Corp. ( BGFV ) BOK Financial Corp. ( BOKF ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report BIG 5 SPORTING (BGFV): Free Stock Analysis Report BANK MUTUAL CRP (BKMU): Free Stock Analysis Report BOK FINL CORP (BOKF): Free Stock Analysis Report 3D SYSTEMS CORP (DDD): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report BIG 5 SPORTING (BGFV): Free Stock Analysis Report BANK MUTUAL CRP (BKMU): Free Stock Analysis Report BOK FINL CORP (BOKF): Free Stock Analysis Report 3D SYSTEMS CORP (DDD): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: 3D Systems Corp. ( DDD ) Asbury Automotive Group, Inc. ( ABG ) Bank Mutual Corp. ( BKMU ) Big 5 Sporting Goods Corp. ( BGFV ) BOK Financial Corp. ( BOKF ) View the entire Zacks #1 Rank List . | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: 3D Systems Corp. ( DDD ) Asbury Automotive Group, Inc. ( ABG ) Bank Mutual Corp. ( BKMU ) Big 5 Sporting Goods Corp. ( BGFV ) BOK Financial Corp. ( BOKF ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report BIG 5 SPORTING (BGFV): Free Stock Analysis Report BANK MUTUAL CRP (BKMU): Free Stock Analysis Report BOK FINL CORP (BOKF): Free Stock Analysis Report 3D SYSTEMS CORP (DDD): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28994.0 | 2012-10-18 00:00:00 UTC | Zacks #1 Rank Additions for Thursday - Tale of the Tape | ABG | https://www.nasdaq.com/articles/zacks-1-rank-additions-for-thursday-tale-of-the-tape-2012-10-18 | nan | nan | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
Anheuser-Busch InBev NV (ADR) ( BUD )
Apogee Enterprises, Inc. ( APOG )
Arbitron Inc. ( ARB )
Asbury Automotive Group, Inc. ( ABG )
Badger Meter, Inc. ( BMI )
View the entire Zacks #1 Rank List .
ASBURY AUTO GRP (ABG): Free Stock Analysis Report
APOGEE ENTRPRS (APOG): Free Stock Analysis Report
ARBITRON INC (ARB): Free Stock Analysis Report
BADGER METER (BMI): Free Stock Analysis Report
ANHEUSER-BU ADR (BUD): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Anheuser-Busch InBev NV (ADR) ( BUD ) Apogee Enterprises, Inc. ( APOG ) Arbitron Inc. ( ARB ) Asbury Automotive Group, Inc. ( ABG ) Badger Meter, Inc. ( BMI ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report APOGEE ENTRPRS (APOG): Free Stock Analysis Report ARBITRON INC (ARB): Free Stock Analysis Report BADGER METER (BMI): Free Stock Analysis Report ANHEUSER-BU ADR (BUD): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Anheuser-Busch InBev NV (ADR) ( BUD ) Apogee Enterprises, Inc. ( APOG ) Arbitron Inc. ( ARB ) Asbury Automotive Group, Inc. ( ABG ) Badger Meter, Inc. ( BMI ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report APOGEE ENTRPRS (APOG): Free Stock Analysis Report ARBITRON INC (ARB): Free Stock Analysis Report BADGER METER (BMI): Free Stock Analysis Report ANHEUSER-BU ADR (BUD): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ASBURY AUTO GRP (ABG): Free Stock Analysis Report APOGEE ENTRPRS (APOG): Free Stock Analysis Report ARBITRON INC (ARB): Free Stock Analysis Report BADGER METER (BMI): Free Stock Analysis Report ANHEUSER-BU ADR (BUD): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Anheuser-Busch InBev NV (ADR) ( BUD ) Apogee Enterprises, Inc. ( APOG ) Arbitron Inc. ( ARB ) Asbury Automotive Group, Inc. ( ABG ) Badger Meter, Inc. ( BMI ) View the entire Zacks #1 Rank List . | Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today: Anheuser-Busch InBev NV (ADR) ( BUD ) Apogee Enterprises, Inc. ( APOG ) Arbitron Inc. ( ARB ) Asbury Automotive Group, Inc. ( ABG ) Badger Meter, Inc. ( BMI ) View the entire Zacks #1 Rank List . ASBURY AUTO GRP (ABG): Free Stock Analysis Report APOGEE ENTRPRS (APOG): Free Stock Analysis Report ARBITRON INC (ARB): Free Stock Analysis Report BADGER METER (BMI): Free Stock Analysis Report ANHEUSER-BU ADR (BUD): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28995.0 | 2012-09-07 00:00:00 UTC | Lithia's Fundamentals Match Up Well With Rivals | ABG | https://www.nasdaq.com/articles/lithias-fundamentals-match-well-rivals-2012-09-07 | nan | nan | For the past two years,Lithia Motors ( LAD ) has delivered strong earnings and revenue gains.
In 2010-11, earnings surged 69% and 112% on revenue growth of 16% and 27%. The Street expects a 39% pop in this year's EPS while revenue advances 21%.
The Oregon-based company operates automotive franchises of new and used vehicles and services. As of July, Lithia had 85 stores in 11 states along with a website.
In the most recent quarter, new vehicles accounted for about 56% of total revenue.
Second quarter earnings grew 41%. The Street had expected 17% growth. Q2 revenue jumped 26%.
The fundamentals for Lithia are best considered in context. The Retail-Wholesale Automotive group includes some chains that sell only used vehicles. Lithia sells both new and used, and four other companies in the group have a similar profile.
So let's look at the data vs. similar companies.
Lithia's pretax margin was 3.2% last year, its best since 2005.AutoNation ( AN ) came in at 3.4%, Ashbury Automotive ( ABG ) at 2.2%,Penske Automotive ( PAG ) at 2.2% andSonic Automotive ( SAH ) at 1.7%.
Return on equity, a gauge of financial efficiency, was 15.3% last year at Lithia. AutoNation was 14.4%; Ashbury, 19.3%, Penske, 15%; and Sonic, 16.9%.
Lithia's five-year earnings stability factor is 39 on a scale of 0 (calm) to 99 (erratic). AutoNation's is 23, Ashbury's 51, Penske's 40 and Sonic's 47.
Operating cash flow per share was 36% greater than EPS at Lithia. AutoNation was 42%; Ashbury, 58%; Penske, 32%; and Sonic, 89%.
The annualized dividend yield for Lithia is 1.3%. AutoNation and Ashbury do not pay dividends. Penske's dividend yield is 1.7%, and Sonic's is 0.5%.
Lithia leads the pack overall with a Composite Rating of 96. Penske is next at 94; Ashbury, 90; AutoNation, 89; and Sonic, 81.
On Thursday, Lithia cleared a 30.10 buy point in a tight consolidation. The pattern could be seen as a three-weeks-tight or a square box. The entry is the same regardless. Volume was 21% Thursday but came in heavy Friday. The buy zone is up to 31.61.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Lithia's pretax margin was 3.2% last year, its best since 2005.AutoNation ( AN ) came in at 3.4%, Ashbury Automotive ( ABG ) at 2.2%,Penske Automotive ( PAG ) at 2.2% andSonic Automotive ( SAH ) at 1.7%. For the past two years,Lithia Motors ( LAD ) has delivered strong earnings and revenue gains. The Street expects a 39% pop in this year's EPS while revenue advances 21%. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Lithia's pretax margin was 3.2% last year, its best since 2005.AutoNation ( AN ) came in at 3.4%, Ashbury Automotive ( ABG ) at 2.2%,Penske Automotive ( PAG ) at 2.2% andSonic Automotive ( SAH ) at 1.7%. The Oregon-based company operates automotive franchises of new and used vehicles and services. | Lithia's pretax margin was 3.2% last year, its best since 2005.AutoNation ( AN ) came in at 3.4%, Ashbury Automotive ( ABG ) at 2.2%,Penske Automotive ( PAG ) at 2.2% andSonic Automotive ( SAH ) at 1.7%. For the past two years,Lithia Motors ( LAD ) has delivered strong earnings and revenue gains. Lithia sells both new and used, and four other companies in the group have a similar profile. | Lithia's pretax margin was 3.2% last year, its best since 2005.AutoNation ( AN ) came in at 3.4%, Ashbury Automotive ( ABG ) at 2.2%,Penske Automotive ( PAG ) at 2.2% andSonic Automotive ( SAH ) at 1.7%. In 2010-11, earnings surged 69% and 112% on revenue growth of 16% and 27%. The Street expects a 39% pop in this year's EPS while revenue advances 21%. |
28996.0 | 2012-08-06 00:00:00 UTC | Weekly CEO Sells Highlight: Actuant Corporation, Ventas Inc., Under Armour Inc. ... | ABG | https://www.nasdaq.com/articles/weekly-ceo-sells-highlight-actuant-corporation-ventas-inc-under-armour-inc-2012-08-06 | nan | nan | According to GuruFocus Insider Data , these are the largest CEO sales during the past week: Actuant Corporation, Ventas Inc., Under Armour Inc. and Asbury Automotive Group.
Actuant Corporation ( ATU ): President and CEO Robert C. Arzbaecher sold 771,132 Shares
President and CEO of Actuant Corporation ( ATU ) Robert C. Arzbaecher sold 771,132 shares during the past week at an average price of $27.78. Actuant, headquartered in Milwaukee, Wis., is a diversified industrial company with operations in 15 countries. Actuant Corporation has a market cap of $1.91 billion; its shares were traded at around $28.09 with a P/E ratio of 13.8 and P/S ratio of 1.3. The dividend yield of Actuant Corporation stocks is 0.1%. Actuant Corporation had an annual average earnings growth of 3.9% over the past 10 years.
Actuant Corporation reported the 2012 second quarter earnings. The company reported net income of $34.4 million and gross profit of $166.1 million.
President and CEO Robert C. Arzbaecher sold 799,732 shares of ATU stock in July. Executive Vice President Electrical Segment David L. Scheer and Vice President Human Resources Sheri Grissom bought 6,455 shares of ATU stock in April and June.
Ventas Inc. ( VTR ): Chairman and CEO Debra A. Cafaro sold 264,264 Shares
Chairman and CEO of Ventas Inc. ( VTR ) Debra A. Cafaro sold 264,264 shares on 08/01/2012 at an average price of $67.25. Ventas Inc. is a healthcare real estate investment trust. Ventas Inc. has a market cap of $19.65 billion; its shares were traded at around $67.05 with a P/E ratio of 18.4 and P/S ratio of 11.1. The dividend yield of Ventas Inc. stocks is 3.7%. Ventas Inc. had an annual average earnings growth of 6.1% over the past 10 years. GuruFocus rated Ventas Inc. the business predictability rank of 3.5-star.
Ventas Inc. reported total revenues of $616.4 million and net income of $73.7 million.
Chairman and CEO Debra A. Cafaro sold 319,086 shares of VTR stock in February and August. Chief Accounting Officer and Controller Robert J. Brehl, Director Douglas M. Pasquale, Director Ronald G. Geary, Executive Chief Finance Officer Richard A. Schweinhart, and President Raymond J. Lewis sold 234,317 shares of VTR stock in May, June and July.
Under Armour Inc. ( UA ): President, CEO and Chairman, 10% Owner Kevin A. Plank sold 270,000 Shares
President, CEO and Chairman, 10% Owner of Under Armour Inc. ( UA ) Kevin A. Plank sold 270,000 shares during the past week at an average price of $54.06. Under Armour is a developer, marketer and distributor of branded performance products for men, women and youth. Under Armour Inc. has a market cap of $5.75 billion; its shares were traded at around $56.07 with a P/E ratio of 59.3 and P/S ratio of 3.9. Under Armour Inc. had an annual average earnings growth of 13.4% over the past five years.
Revenues were $369 million, compared to the $291 million last year and net income of $6.7 million for Under Armour Inc.'s 2012 second quarter results.
President, CEO, Chairman, and 10% Owner Kevin A. Plank sold 540,000 shares of UA stock in May and August. CFO Brad Dickerson sold 10,100 shares of UA stock in February, April and May. Executive Vice President Business Development J. Scott Plank, Director Douglas E. Coltharp, Senior Vice President Global Brand and Sports Marketing Matthew C. Mirchin, Vice President E-Commerce John S. Rogers, and Executive Vice President of Business Development J. Scott Plank sold 226,328 shares of UA stock in May, July and August.
Asbury Automotive Group Inc. ( ABG ): President and CEO Craig T. Monaghan sold 135,000 Shares
President and CEO of Asbury Automotive Group Inc. ( ABG ) Craig T. Monaghan sold 135,000 shares on 08/01/2012 at an average price of $25.96. Asbury Automotive Group is one of the largest automotive retailers in the U.S. Asbury Automotive Group Inc. has a market cap of $832.9 million; its shares were traded at around $26.87 with a P/E ratio of 11.8 and P/S ratio of 0.2.
Asbury Automotive Group Inc. reported total revenues of $1.2 billion and net income of $21.1 million.
President and CEO Craig T. Monaghan sold 255,000 shares of ABG stock in February and August. Vice President and General Counsel George A. Villasana bought 2,000 shares of ABG stock on 04/30/2012. Director Vernon E. Jordan Jr. and Executive Vice President and COO Michael Kearney sold 95,959 shares of ABG stock in July and August.
For the complete list of stocks that were bought by their CEOs, go to: Insider Buys.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Director Vernon E. Jordan Jr. and Executive Vice President and COO Michael Kearney sold 95,959 shares of ABG stock in July and August. Asbury Automotive Group Inc. ( ABG ): President and CEO Craig T. Monaghan sold 135,000 Shares President and CEO of Asbury Automotive Group Inc. ( ABG ) Craig T. Monaghan sold 135,000 shares on 08/01/2012 at an average price of $25.96. President and CEO Craig T. Monaghan sold 255,000 shares of ABG stock in February and August. | Asbury Automotive Group Inc. ( ABG ): President and CEO Craig T. Monaghan sold 135,000 Shares President and CEO of Asbury Automotive Group Inc. ( ABG ) Craig T. Monaghan sold 135,000 shares on 08/01/2012 at an average price of $25.96. President and CEO Craig T. Monaghan sold 255,000 shares of ABG stock in February and August. Vice President and General Counsel George A. Villasana bought 2,000 shares of ABG stock on 04/30/2012. | Asbury Automotive Group Inc. ( ABG ): President and CEO Craig T. Monaghan sold 135,000 Shares President and CEO of Asbury Automotive Group Inc. ( ABG ) Craig T. Monaghan sold 135,000 shares on 08/01/2012 at an average price of $25.96. President and CEO Craig T. Monaghan sold 255,000 shares of ABG stock in February and August. Vice President and General Counsel George A. Villasana bought 2,000 shares of ABG stock on 04/30/2012. | Asbury Automotive Group Inc. ( ABG ): President and CEO Craig T. Monaghan sold 135,000 Shares President and CEO of Asbury Automotive Group Inc. ( ABG ) Craig T. Monaghan sold 135,000 shares on 08/01/2012 at an average price of $25.96. President and CEO Craig T. Monaghan sold 255,000 shares of ABG stock in February and August. Vice President and General Counsel George A. Villasana bought 2,000 shares of ABG stock on 04/30/2012. |
28997.0 | 2012-07-30 00:00:00 UTC | Barrick Disappoints as Costs Jump - Analyst Blog | ABG | https://www.nasdaq.com/articles/barrick-disappoints-as-costs-jump-analyst-blog-2012-07-30 | nan | nan | The world's largest gold miner Barrick Gold Corporation ( ABX ) reported disappointing results for the second quarter of 2012. The company's adjusted earnings fell to 78 cents per share in the quarter from $1.12 per share in the year-ago period, and significantly missed the Zacks Consensus Estimate of 96 cents.
Declining production and escalating costs constricted Barrick's margins in the quarter and led to a massive drop in profits. As a result, reported profit dipped 35% to $750 million (or 75 cents per share) in the second quarter from $1.16 billion, or $1.16 per share, last year.
Revenues declined 4% from last year to $3,278 million, lagging the Zacks Consensus Estimate of $3,553 million. Although average realized price of gold increased 6% year over year to $1,608 per ounce, a 38% jump in total cash costs offset the effects of better pricing.
Gold production fell to 1.74 million ounces in the quarter from 1.98 million ounces last year, which does not come as a surprise since Barrick had already warned of a production decline in the quarter. Copper production improved to 109 million pounds from 93 million pounds last year. However, the company expects to perform better in the second half of the year and thus reiterated its full year production targets.
Regional Results
North America: Barrick's North American unit produced 0.85 million ounces of gold at total cash costs of $516 per ounce compared with 0.92 million ounces at total cash costs of $404 per ounce a year ago. The Cortez mine turned in a strong performance and exceeded expectations, driven by better underground grades and higher ore tons from the open pit.
Production at Goldstrike was, however, constrained by a scheduled shutdown for maintenance activities resulting in lower throughput capacity. However, Goldstrike is expected to do better in the second half of the year due to increased throughput capacity as a result of maintenance improvements. For 2012, production for the North American region is expected to be in the range of 3.425-3.60 million ounces at total cash costs of $475-$525 per ounce.
South America: Production from South America in the quarter was 0.33 million ounces at total cash costs of $458 per ounce compared with 0.45 million ounces at cash costs of $373 per ounce. In 2012, production from South America is expected to be in the range of 1.55-1.7 million ounces at total cash costs of $430-$480 per ounce.
AustraliaPacific: This business region produced 0.45 million ounces in the quarter, compared with 0.46 million ounces in the year-ago quarter. Total cash costs were $844 per ounce in the reported quarter compared with $611 per ounce last year. Australia Pacific is expected to produce 1.80-1.95 million ounces this year at total cash costs of $770-$800 per ounce, up from the previous range of $700-$750 per ounce.
African Barrick Gold plc. (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.11 million ounces at total cash costs of $950 per ounce compared with 0.13 million ounces at total cash costs of $652 per ounce in the prior-year quarter. Lower grades from Buzwagi and increased energy costs led to the surge in costs. Barrick Gold expects to produce 0.5-0.535 million ounces at total cash costs of $790-$860 per ounce in 2012.
Financial Position
Cash and cash equivalents stood at $2,330 million as of June 30, 2012, compared with $2,863 million as of June 30, 2011. Operating cash flow increased to $0.76 billion in the quarter from $0.75 billion last year. The increased cash flow resulted from a decrease in net working capital outflow and income tax payments. Net debt stood at $11.3 billion as of June 30, 2012 compared with $10.1 billion as of June 30, 2011.
Project Updates
Barrick has witnessed a tremendous increase in costs as evident from its various segments. The situation may worsen as the company expects that development of the Pascua-Lama mine, which is the highest gold mine in the world, will get costlier.
The company says that the mine's costs will rise by 50-60%, which might propel costs higher by as much as $3 billion from the previous range of $4.7 billion to $5 billion. Barrick expects that production from Pascua-Lama, which is among the biggest mines in the world, will begin in mid-2014 and not next year, as expected earlier.
However, Barrick has almost completed the construction of the Pueblo Viejo and Jabal Sayid projects and expects capital costs for these to be within the guided range. Gold production at Pueblo Viejo is expected to begin next month while first copper production from Jabal Sayid is expected in the third quarter this year.
Outlook
Barrick has maintained its full year gold production targets and expects to produce 7.3-7.8 million ounces this year. However, it has increased its cost forecast and expects to incur total cash costs of $550-$575 per ounce, up from the previous range of $520-$560 per ounce.
The company has slashed its copper production forecast to 460-500 million pounds this year from the earlier guidance of 550-600 million pounds. Also, Barrick now expects copper cash costs to increase from $1.90-$2.20 per pound to $2.10-$2.30 per pound this year.
Also, Barrick might lower its long-term targets, primarily driven by economic uncertainties and its capital allocation strategy. Management believes that a number of projects in the pipeline are not well-aligned with the company's strategy and needs to be reviewed. This might result in some projects being put on the backburner. Barrick now projects its gold and copper production base to be above 8 million ounces by 2015 and more than 600 million pounds by 2013.
Our Take and Recommendation
Barrick, with a number of world class mines under its jurisdiction, is an unhedged producer of gold and enjoys significant leverage to gold prices. However, as seen in the second quarter, the advantage arising out of increased prices is endangered by higher costs. The company expects costs to rise, which might impact its earnings power going forward.
We currently have a long-term Neutral recommendation on Barrick Gold. The company, which competes with AngloGold Ashanti Ltd. ( AU ) and Newmont Mining Corp. ( NEM ), maintains a Zacks #3 Rank, which translates into a short-term (1 to 3 months) Hold rating.
BARRICK GOLD CP (ABX): Free Stock Analysis Report
ANGLOGOLD LTD (AU): Free Stock Analysis Report
NEWMONT MINING (NEM): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.11 million ounces at total cash costs of $950 per ounce compared with 0.13 million ounces at total cash costs of $652 per ounce in the prior-year quarter. The Cortez mine turned in a strong performance and exceeded expectations, driven by better underground grades and higher ore tons from the open pit. However, Barrick has almost completed the construction of the Pueblo Viejo and Jabal Sayid projects and expects capital costs for these to be within the guided range. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.11 million ounces at total cash costs of $950 per ounce compared with 0.13 million ounces at total cash costs of $652 per ounce in the prior-year quarter. Regional Results North America: Barrick's North American unit produced 0.85 million ounces of gold at total cash costs of $516 per ounce compared with 0.92 million ounces at total cash costs of $404 per ounce a year ago. South America: Production from South America in the quarter was 0.33 million ounces at total cash costs of $458 per ounce compared with 0.45 million ounces at cash costs of $373 per ounce. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.11 million ounces at total cash costs of $950 per ounce compared with 0.13 million ounces at total cash costs of $652 per ounce in the prior-year quarter. Regional Results North America: Barrick's North American unit produced 0.85 million ounces of gold at total cash costs of $516 per ounce compared with 0.92 million ounces at total cash costs of $404 per ounce a year ago. South America: Production from South America in the quarter was 0.33 million ounces at total cash costs of $458 per ounce compared with 0.45 million ounces at cash costs of $373 per ounce. | (ABG): Attributable production from African Barrick Gold in the quarter came in at 0.11 million ounces at total cash costs of $950 per ounce compared with 0.13 million ounces at total cash costs of $652 per ounce in the prior-year quarter. Gold production fell to 1.74 million ounces in the quarter from 1.98 million ounces last year, which does not come as a surprise since Barrick had already warned of a production decline in the quarter. Barrick Gold expects to produce 0.5-0.535 million ounces at total cash costs of $790-$860 per ounce in 2012. |
28998.0 | 2012-07-23 00:00:00 UTC | Pre-Market Earnings Report for July 24, 2012 : T, MO, APD, AME, AMG, BEAV, AVY, AXE, ABG, ASTE, AKS, AUDC | ABG | https://www.nasdaq.com/articles/pre-market-earnings-report-july-24-2012-t-mo-apd-ame-amg-beav-avy-axe-abg-aste-aks-audc | nan | nan | The following companies are expected to report earnings prior to market open on 07/24/2012. Visit our Earnings Calendar for a full list of expected earnings releases.
AT&T Inc. ( T ) is reporting for the quarter ending June 30, 2012. The diversified company's consensus earnings per share forecast from the 26 analysts that follow the stock is $0.63. This value represents a 5.00% increase compared to the same quarter last year. T missed the consensus earnings per share in the 4th calendar quarter by -2.33%. Zacks Investment Research reports that the 2012 Price to Earnings ratio for T is 14.89 vs. an industry ratio of 12.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Altria Group ( MO ) is reporting for the quarter ending June 30, 2012. The tobacco company's consensus earnings per share forecast from the 10 analysts that follow the stock is $0.57. This value represents a 7.55% increase compared to the same quarter last year. In the past year MO has met analyst expectations three times and beat the expectations the other quarter. Zacks Investment Research reports that the 2012 Price to Earnings ratio for MO is 16.25 vs. an industry ratio of 10.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Air Products and Chemicals, Inc. ( APD ) is reporting for the quarter ending June 30, 2012. The chemical company's consensus earnings per share forecast from the 14 analysts that follow the stock is $1.41. This value represents a -3.42% decrease compared to the same quarter last year. APD missed the consensus earnings per share in the 1st calendar quarter by -1.5%. Zacks Investment Research reports that the 2012 Price to Earnings ratio for APD is 14.57 vs. an industry ratio of 11.70, implying that they will have a higher earnings growth than their competitors in the same industry.
AMTEK, Inc. ( AME ) is reporting for the quarter ending June 30, 2012. The electrical test equipment company's consensus earnings per share forecast from the 10 analysts that follow the stock is $0.46. This value represents a 17.95% increase compared to the same quarter last year. In the past year AME has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 2.27%. Zacks Investment Research reports that the 2012 Price to Earnings ratio for AME is 18.26 vs. an industry ratio of 16.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Affiliated Managers Group, Inc. ( AMG ) is reporting for the quarter ending June 30, 2012. The finance/investment management company's consensus earnings per share forecast from the 7 analysts that follow the stock is $1.64. This value represents a -4.09% decrease compared to the same quarter last year. In the past year AMG has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 1.28%. Zacks Investment Research reports that the 2012 Price to Earnings ratio for AMG is 14.70 vs. an industry ratio of 16.10.
BE Aerospace, Inc. ( BEAV ) is reporting for the quarter ending June 30, 2012. The aerospace and defense company's consensus earnings per share forecast from the 15 analysts that follow the stock is $0.68. This value represents a 25.93% increase compared to the same quarter last year. In the past year BEAV has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 12.9%. Zacks Investment Research reports that the 2012 Price to Earnings ratio for BEAV is 15.17 vs. an industry ratio of -5.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Avery Dennison Corporation ( AVY ) is reporting for the quarter ending June 30, 2012. The office supplies company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.54. This value represents a -30.77% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2012 Price to Earnings ratio for AVY is 14.74 vs. an industry ratio of 8.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Anixter International Inc. ( AXE ) is reporting for the quarter ending June 30, 2012. The electrical company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.49. This value represents a 4.20% increase compared to the same quarter last year. AXE missed the consensus earnings per share in the 1st calendar quarter by -3.52%. Zacks Investment Research reports that the 2012 Price to Earnings ratio for AXE is 8.96 vs. an industry ratio of 12.60.
Asbury Automotive Group Inc ( ABG ) is reporting for the quarter ending June 30, 2012. The retail company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.64. This value represents a 25.49% increase compared to the same quarter last year. In the past year ABG has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2012 Price to Earnings ratio for ABG is 11.31 vs. an industry ratio of 11.80.
Astec Industries, Inc. ( ASTE ) is reporting for the quarter ending June 30, 2012. The machinery company's consensus earnings per share forecast from the 9 analysts that follow the stock is $0.66. This value represents a 8.20% increase compared to the same quarter last year. Zacks Investment Research reports that the 2012 Price to Earnings ratio for ASTE is 13.33 vs. an industry ratio of 10.40, implying that they will have a higher earnings growth than their competitors in the same industry.
AK Steel Holding Corporation ( AKS ) is reporting for the quarter ending June 30, 2012. The steel company's consensus earnings per share forecast from the 14 analysts that follow the stock is $0.06. This value represents a -81.25% decrease compared to the same quarter last year. AKS missed the consensus earnings per share in the 2nd calendar quarter by -37.25%. Zacks Investment Research reports that the 2012 Price to Earnings ratio for AKS is -65.50 vs. an industry ratio of 12.80.
AudioCodes Ltd. ( AUDC ) is reporting for the quarter ending June 30, 2012. The communications company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.02. This value represents a -120.00% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2012 Price to Earnings ratio for AUDC is -85.00 vs. an industry ratio of 11.70.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Asbury Automotive Group Inc ( ABG ) is reporting for the quarter ending June 30, 2012. In the past year ABG has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2012 Price to Earnings ratio for ABG is 11.31 vs. an industry ratio of 11.80. | Asbury Automotive Group Inc ( ABG ) is reporting for the quarter ending June 30, 2012. In the past year ABG has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2012 Price to Earnings ratio for ABG is 11.31 vs. an industry ratio of 11.80. | Asbury Automotive Group Inc ( ABG ) is reporting for the quarter ending June 30, 2012. In the past year ABG has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2012 Price to Earnings ratio for ABG is 11.31 vs. an industry ratio of 11.80. | Asbury Automotive Group Inc ( ABG ) is reporting for the quarter ending June 30, 2012. In the past year ABG has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2012 Price to Earnings ratio for ABG is 11.31 vs. an industry ratio of 11.80. |
28999.0 | 2012-06-04 00:00:00 UTC | Tanzania Starts To Earn From New Mining Royalty Rates – Report | ABG | https://www.nasdaq.com/articles/tanzania-starts-earn-new-mining-royalty-rates-report-2012-06-04 | nan | nan | Tanzania has started to earn from the royalty rates under its new Mining Act in 2010, The Citizen newspaper reported.
The paper reported that big gold mining firms present in Tanzania, including Geita Gold Mines, African Barrick Gold ( ABG ) Limited and Resolute Gold Mines Ltd, after a series of negotiations with the government, have started abiding with the new mining law.
The new Mining Act in 2010 stipulated that royalty rates for gold and uranium be increased across the board with calculations based on gross profits rather than the previous which was built on net values.
Read More on International Business Times
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The paper reported that big gold mining firms present in Tanzania, including Geita Gold Mines, African Barrick Gold ( ABG ) Limited and Resolute Gold Mines Ltd, after a series of negotiations with the government, have started abiding with the new mining law. Tanzania has started to earn from the royalty rates under its new Mining Act in 2010, The Citizen newspaper reported. The new Mining Act in 2010 stipulated that royalty rates for gold and uranium be increased across the board with calculations based on gross profits rather than the previous which was built on net values. | The paper reported that big gold mining firms present in Tanzania, including Geita Gold Mines, African Barrick Gold ( ABG ) Limited and Resolute Gold Mines Ltd, after a series of negotiations with the government, have started abiding with the new mining law. Read More on International Business Times The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The paper reported that big gold mining firms present in Tanzania, including Geita Gold Mines, African Barrick Gold ( ABG ) Limited and Resolute Gold Mines Ltd, after a series of negotiations with the government, have started abiding with the new mining law. Read More on International Business Times The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The paper reported that big gold mining firms present in Tanzania, including Geita Gold Mines, African Barrick Gold ( ABG ) Limited and Resolute Gold Mines Ltd, after a series of negotiations with the government, have started abiding with the new mining law. Tanzania has started to earn from the royalty rates under its new Mining Act in 2010, The Citizen newspaper reported. Read More on International Business Times The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
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