AutoNation, Inc. (AN) Expected to Earn Q3 2017 Earnings of $0.85 Per Share

AutoNation, Inc. (NYSE:AN) – Equities research analysts at Northcoast Research cut their Q3 2017 earnings per share estimates for AutoNation in a research note issued on Wednesday. Northcoast Research analyst J. Healy now anticipates that the company will post earnings per share of $0.85 for the quarter, down from their previous forecast of $0.91. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for AutoNation’s FY2017 earnings at $3.62 EPS.

Several other analysts have also commented on AN. BidaskClub upgraded shares of AutoNation from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Berenberg Bank began coverage on shares of AutoNation in a report on Wednesday. They set a “buy” rating and a $55.00 price objective on the stock. Buckingham Research cut their price objective on shares of AutoNation from $44.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, August 3rd. Deutsche Bank AG restated a “hold” rating and set a $43.00 price objective (down previously from $46.00) on shares of AutoNation in a report on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc restated a “negative” rating on shares of AutoNation in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $45.55.

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Shares of AutoNation (AN) opened at 47.56 on Thursday. The company has a 50-day moving average of $45.40 and a 200 day moving average of $42.22. The firm has a market capitalization of $4.78 billion, a P/E ratio of 11.84 and a beta of 1.21. AutoNation has a 52 week low of $38.20 and a 52 week high of $53.74.

AutoNation (NYSE:AN) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.12). AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the prior year, the company earned $1.08 EPS. AutoNation’s quarterly revenue was down 3.0% on a year-over-year basis.

Hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in shares of AutoNation by 43.8% in the 1st quarter. Nordea Investment Management AB now owns 3,285 shares of the company’s stock worth $139,000 after acquiring an additional 1,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of AutoNation in the 1st quarter worth $206,000. Achmea Investment Management B.V. acquired a new stake in shares of AutoNation in the 1st quarter worth $209,000. Invictus RG increased its stake in shares of AutoNation by 58.2% in the 1st quarter. Invictus RG now owns 4,981 shares of the company’s stock worth $211,000 after acquiring an additional 1,833 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of AutoNation by 8.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock worth $215,000 after acquiring an additional 372 shares during the last quarter. Institutional investors own 73.42% of the company’s stock.

In other news, Director Robert R. Grusky sold 2,800 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $38.99, for a total transaction of $109,172.00. Following the transaction, the director now owns 30,713 shares in the company, valued at approximately $1,197,499.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.10% of the company’s stock.

AutoNation announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 29th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

AutoNation Company Profile

AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.

Earnings History and Estimates for AutoNation (NYSE:AN)

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