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18 сентября, 20:53

6 Sector ETFs Must Buys Now

Which sector ETFs should be top picks now.

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29 августа, 21:31

Hurricane Harvey Likely To Destroy More Cars Than Katrina: "This Is Bad; Real Bad"

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Hurricane Harvey's historic flooding in Texas is set to wreak havoc on the auto industry and its insurers with analysts now predicting the storm could damage more vehicles than Hurricane Katrina.  In August 2005, Katrina wiped out some 500,000-600,000 vehicles but William Armstrong of CL King warns that Houston has about 5x more people than New Orleans did at the time. Hurricane Harvey could damage more vehicles than Hurricane Katrina, driving business to the salvage auctions operated by Copart and KAR Auction Services, CL King analyst William Armstrong wrote in a note.   Katrina damaged 500,000-600,000 vehicles in August 2005, and the greater Houston MSA is five times as populous as pre-Katrina New Orleans.   The cost of dealing with catastrophes can be higher than normal given vehicle extraction, towing and temporary storage and auction locations, though both companies have grown their physical presence in Texas over the last year, which should lower the need for temporary locations.   It may be 2-3 months or longer until damaged vehicles are sold at auction.   Of course, storms of this magnitude bring not only millions in salvage-related charge offs for the auto industry but a loss of critical "selling days" for one of the biggest markets in the country.  As CNBC points out this morning, Citi analyst Itay Michaeli figures Hurricane Harvey could knock about 500,000 units off the August auto SAAR to be reported later this week. Given the widespread flooding that will swamp dealerships and kill potential sales, analysts are bringing down estimates for the August new vehicle sales in the U.S.   Citi analyst Itay Michaeli has cut his estimate for the rate of monthly auto sales in August, which are reported on Friday. He estimates Harvey will affect some 125 counties in Texas and about 60 percent of the state's auto sales.   Before Harvey, Michaeli estimated the August sales pace for the country was going to be in the mid-$16 million range. As the storm lingers over the area, Michaeli has dropped his estimate.   "Our analysis suggests that Hurricane Harvey could push this down to the low-$16 million unit range," Michaeli wrote in a note to clients. In terms of the publicly traded used car dealers, Stephens analyst Rick Nelson notes that Group 1 Automotive has the heaviest exposure to Hurricane Harvey, with ~37% of revenues from Texas, followed by Sonic (~25%) and AutoNation (~21%).  Meanwhile, Autonation CEO Marc Cannon appeared on CNBC this morning to discuss the devastation: "This is bad; real bad," said Marc Cannon, an AutoNation executive vice president. "Right now, we are focused on making sure all of our employees are safe and taken care of. At the same time, we're focusing on getting all of our stores up and running."   AutoNation's 18 dealerships in the Houston area are shut down. Widespread flooding has not only swamped thousands of buildings in the Houston area, it's likely damaged hundreds, perhaps thousands of new cars and trucks parked on dealership lots.   "We're holding calls with our staff every three hours," Cannon said. "We have reopened our stores in Corpus Christi and Austin, but some of the Houston stores may take some time." Then, for the 'less reputable' used car dealers, no good crisis can be allowed to go to waste.  As carfax points out, if previous hurricanes are any example, roughly half of the cars flooded by Hurricane Harvey will eventually be sold with no flood label to unsuspecting consumers.   Of course, when the auto OEMs report abysmal sales this Friday they will undoubtedly also tell you how Hurricane Harvey is great for long-term sales because of all the salvaged cars that have to be replaced.

29 июня, 16:30

Momo, AutoNation, Amercia's Car-Mart and Lithia Motors highlighted as Zacks Bull and Bear of the Day

Momo, AutoNation, Amercia’s Car-Mart and Lithia Motors highlighted as Zacks Bull and Bear of the Day

29 июня, 14:00

Bear of the Day: AutoNation (AN)

Bear of the Day: AutoNation (AN)

28 июня, 15:50

Why Should You Steer Clear of AutoNation (AN) Stock Now?

On Jun 27, Zacks Investment Research has downgraded AutoNation Inc. (AN) to a Zacks Rank #5 (Strong Sell)

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26 мая, 14:20

Why Is AutoNation (AN) Down 9% Since the Last Earnings Report?

AutoNation (AN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

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25 апреля, 18:27

AutoNation (AN) Q1 Earnings Beat Expectations, Sales Miss

AutoNation Inc. (AN) reported earnings of 97 cents per share in first-quarter 2017, which increased from 90 cents in the first quarter of 2016. Earnings also surpassed the Zacks Consensus Estimate of 91 cents.

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25 апреля, 15:58

AutoNation (AN) Q1 Earnings Beat Estimates, Sales Trail

AutoNation (AN) delivered earnings of 97 cents per share in the first quarter of 2017, which increased from 90 cents recorded in the first quarter of 2016. Earnings also beat the Zacks Consensus Estimate of 91 cents.

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21 апреля, 16:38

AutoNation (AN) to Post Q1 Earnings: What's in the Cards?

AutoNation, Inc. (AN) is expected to report first-quarter 2017 results, before the market opens on Apr 25.

17 марта, 16:30

The Zacks Analyst Blog Highlights: Ford Motors, AutoNation, General Motors and Fiat Chrysler Automobiles

The Zacks Analyst Blog Highlights: Ford Motors, AutoNation, General Motors and Fiat Chrysler Automobiles

16 марта, 17:31

Are Automakers Poised to Grow Under Trump's Presidency?

Automakers expect that the future policies of Trump will promote manufacturing of vehicles and lower costs concurrently.

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06 марта, 10:56

AutoNation (AN) Down 11.5% Since Earnings Report: Can It Rebound?

AutoNation (AN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

08 февраля, 23:59

Top Analyst Reports for Priceline, Schwab & NextEera Energy

Top Analyst Reports for Priceline, Schwab & NextEera Energy

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06 февраля, 17:11

AutoNation stock price target cut to $47 from $52 at Buckingham Research

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

03 февраля, 22:59

AutoNation (AN) Q4 Earnings, Revenues Miss on Estimates

AutoNation Inc. (AN) reported record adjusted earnings of 95 cents per share in fourth-quarter 2016, which decreased from 96 cents in the fourth quarter of 2015.

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03 февраля, 16:42

AutoNation (AN) Q4 Earnings Miss Estimates, Fall Y/Y

AutoNation delivered adjusted earnings of 95 cents per share in the fourth quarter of 2016, which decreased from 96 cents recorded in the fourth quarter of 2015.

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03 февраля, 16:39

AutoNation's stock drops 1.7% premarket after Q4 results

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.