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Why is Asbury Automotive Group Inc (ABG) Stock down?
We've noticed a 5.17% decline in Asbury Automotive Group Inc (ABG) stock during the 2024-09-10 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
24 Oct, 2023:
Shares of Asbury Automotive Group (ABG) dropped by 6.35% from $199.16 to $186.52 in the trading on Tuesday, October 24, 2023. The reason why ABG stock down is due to the company's weak quarterly results.
- Asbury Automotive Group (ABG) fell short of expectations in its latest quarterly report, posting earnings of $8.12 per share, below the anticipated $8.44 per share and a decrease from the previous year's $9.23 per share. Adjusted for non-recurring items, this translated into an earnings surprise of -3.79%.
- On the revenue front, ABG reported $3.67 billion for the quarter ending in September 2023, missing the Zacks Consensus Estimate by 1.51% and down from $3.87 billion in the same period the previous year.
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