FY2024 Earnings Estimate for AutoNation, Inc. (NYSE:AN) Issued By Seaport Res Ptn

AutoNation, Inc. (NYSE:AN) – Research analysts at Seaport Res Ptn lowered their FY2024 earnings estimates for AutoNation in a report released on Thursday, July 18th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings per share of $17.32 for the year, down from their previous estimate of $17.78. The consensus estimate for AutoNation’s current full-year earnings is $18.21 per share. Seaport Res Ptn also issued estimates for AutoNation’s FY2025 earnings at $18.29 EPS.

A number of other research analysts have also recently commented on AN. Bank of America boosted their target price on shares of AutoNation from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company boosted their target price on shares of AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their target price on shares of AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Evercore ISI boosted their target price on shares of AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Finally, Guggenheim boosted their target price on shares of AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, AutoNation has an average rating of “Moderate Buy” and an average target price of $184.43.

AutoNation Trading Down 0.5 %

Shares of AN stock opened at $172.35 on Monday. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 3.35 and a beta of 1.21. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 1.47. AutoNation has a fifty-two week low of $123.81 and a fifty-two week high of $182.81. The firm’s 50 day moving average price is $166.56 and its two-hundred day moving average price is $157.08.

AutoNation (NYSE:AN) last announced its quarterly earnings results on Friday, April 26th. The company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.45 by $0.04. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.49 billion. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. AutoNation’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $6.05 earnings per share.

Institutional Trading of AutoNation

Institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its position in shares of AutoNation by 212.2% during the second quarter. Fifth Third Bancorp now owns 743 shares of the company’s stock worth $118,000 after acquiring an additional 505 shares during the last quarter. Investment House LLC grew its position in shares of AutoNation by 11.7% during the second quarter. Investment House LLC now owns 55,425 shares of the company’s stock worth $8,834,000 after acquiring an additional 5,810 shares during the last quarter. Raymond James & Associates grew its position in shares of AutoNation by 10.7% during the second quarter. Raymond James & Associates now owns 58,084 shares of the company’s stock worth $9,257,000 after acquiring an additional 5,611 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of AutoNation during the second quarter worth about $1,903,000. Finally, Blue Trust Inc. grew its position in shares of AutoNation by 37.2% during the second quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $235,000 after acquiring an additional 385 shares during the last quarter. Institutional investors own 94.62% of the company’s stock.

Insider Buying and Selling

In related news, Director David B. Edelson sold 10,000 shares of AutoNation stock in a transaction on Monday, April 29th. The shares were sold at an average price of $168.00, for a total value of $1,680,000.00. Following the completion of the sale, the director now owns 48,793 shares in the company, valued at $8,197,224. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AutoNation news, major shareholder Edward S. Lampert sold 23,703 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $172.29, for a total transaction of $4,083,789.87. Following the completion of the sale, the insider now owns 3,980,467 shares in the company, valued at $685,794,659.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Edelson sold 10,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the sale, the director now owns 48,793 shares of the company’s stock, valued at approximately $8,197,224. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,703 shares of company stock worth $23,384,790. Insiders own 0.74% of the company’s stock.

AutoNation declared that its board has approved a stock repurchase program on Friday, April 26th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 14.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

About AutoNation

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.