AutoNation, Inc. (NYSE:AN) to Post Q1 2024 Earnings of $4.27 Per Share, Seaport Res Ptn Forecasts

AutoNation, Inc. (NYSE:AN) – Investment analysts at Seaport Res Ptn dropped their Q1 2024 EPS estimates for shares of AutoNation in a research note issued to investors on Friday, April 19th. Seaport Res Ptn analyst G. Chin now expects that the company will earn $4.27 per share for the quarter, down from their previous estimate of $4.35. The consensus estimate for AutoNation’s current full-year earnings is $18.92 per share. Seaport Res Ptn also issued estimates for AutoNation’s FY2024 earnings at $18.70 EPS.

A number of other research analysts have also recently commented on AN. StockNews.com cut shares of AutoNation from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Morgan Stanley upgraded AutoNation from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $117.00 to $140.00 in a research note on Thursday, February 29th. Guggenheim increased their price objective on shares of AutoNation from $165.00 to $169.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Evercore ISI started coverage on AutoNation in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 price objective on the stock. Finally, Bank of America lowered their price target on AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

AutoNation Trading Up 0.3 %

Shares of NYSE AN opened at $154.60 on Monday. The business’s 50 day moving average is $152.92 and its two-hundred day moving average is $144.27. The stock has a market capitalization of $6.45 billion, a P/E ratio of 6.82, a PEG ratio of 1.24 and a beta of 1.24. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.77 and a quick ratio of 0.23. AutoNation has a 1-year low of $123.81 and a 1-year high of $182.08.

AutoNation (NYSE:AN) last issued its earnings results on Tuesday, February 13th. The company reported $5.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.85 by $0.17. AutoNation had a return on equity of 48.76% and a net margin of 3.79%. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the previous year, the firm posted $6.37 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year.

Insider Activity at AutoNation

In other AutoNation news, major shareholder Edward S. Lampert sold 100,000 shares of AutoNation stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total value of $16,126,000.00. Following the transaction, the insider now directly owns 4,167,270 shares in the company, valued at $672,013,960.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Edward S. Lampert sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total transaction of $16,126,000.00. Following the sale, the insider now owns 4,167,270 shares of the company’s stock, valued at $672,013,960.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Kimberly Dees sold 3,133 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $152.28, for a total value of $477,093.24. Following the sale, the chief accounting officer now owns 464 shares in the company, valued at $70,657.92. The disclosure for this sale can be found here. Insiders have sold 121,279 shares of company stock valued at $19,361,962 in the last ninety days. Insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On AutoNation

Several large investors have recently added to or reduced their stakes in the business. Nilsine Partners LLC grew its stake in AutoNation by 7.6% during the 1st quarter. Nilsine Partners LLC now owns 23,847 shares of the company’s stock valued at $3,949,000 after purchasing an additional 1,688 shares in the last quarter. Raymond James & Associates raised its stake in shares of AutoNation by 15.4% in the 1st quarter. Raymond James & Associates now owns 52,473 shares of the company’s stock worth $8,688,000 after buying an additional 6,992 shares in the last quarter. American Institute for Advanced Investment Management LLP lifted its holdings in AutoNation by 35.5% in the 1st quarter. American Institute for Advanced Investment Management LLP now owns 1,850 shares of the company’s stock valued at $303,000 after acquiring an additional 485 shares during the last quarter. Denali Advisors LLC boosted its holdings in AutoNation by 79.7% during the first quarter. Denali Advisors LLC now owns 248 shares of the company’s stock worth $41,000 after buying an additional 110 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in shares of AutoNation by 1.6% during the first quarter. State of Michigan Retirement System now owns 6,348 shares of the company’s stock worth $1,051,000 after purchasing an additional 100 shares during the period. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

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.