The Zacks Analyst Blog Highlights: AutoNation, Ford Motor, General Motors, Toyota Motor and Honda Motor - Press Releases
May 10 2012 - 4:30AM
Zacks
For Immediate
Release
Chicago, IL – May 10, 2012 –
Zacks.com announces the list of stocks featured in the Analyst
Blog. Every day the Zacks Equity Research analysts discuss the
latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include
AutoNation Inc. (AN),
Ford Motor Co. (F), General Motors
Company (GM), Toyota Motor Corp. (TM) and
Honda Motor Co. (HMC).
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Zacks Equity Research with the free Profit from the Pros
newsletter: http://at.zacks.com/?id=5513
Here are highlights from
Wednesday’s Analyst Blog:
AutoNation Sales Rise
12%
AutoNation Inc.
(AN) announced a 12% rise in new vehicles sales to 20,534 units in
April 2012. The improvement in sales was attributable to higher
sales in all its segments compared to the comparable month of the
prior year.
Sales in the Domestic segment went
up 9% to 6,306 units. The segment comprises of retail automotive
franchises that sell vehicles manufactured by Ford Motor
Co. (F), General Motors Company (GM) and
Chrysler. During the month, the automotive retailer’s sales of Ford
vehicles went up 4%.
Sales in the Import segment hiked
16% to 10,358 units. The segment comprises of retail automotive
franchises that sell vehicles produced by Toyota Motor
Corp. (TM), Honda Motor Co. (HMC) and
others. The retailer’s sales of Toyota-made
vehicles escalated 29% in the reported month.
Light vehicle sales in the U.S
depicted a sluggish growth of 2.3% to 1.18 million units from 1.16
million units in April last year. Meanwhile, it went up 9.5% to
seasonally adjusted annual rate (SAAR) of 14.42 million units from
13.17 million units in the year-ago month.
The sluggish growth was
attributable to lower sales performance of the two biggest players
in the industry – General Motors and Ford, and
fewer selling days (due to more Sundays in the month compared with
April 2011). However, auto sales were favorably affected by
fuel-efficient lineups and pent-up demand.
Headquartered in Fort Lauderdale,
Florida, AutoNation is the largest automotive retailer in the U.S.
The company owns and operates 260 new vehicle franchises that sell
32 brands located in the major metropolitan markets in 15 states.
The company offers a range of automotive products and services,
including new vehicle, used vehicles, vehicle maintenance and
repair services, vehicle parts, vehicle protection products and
other aftermarket products.
AutoNation posted its first-quarter
2012 profits of 56 cents per share, up 22% from 46 cents in the
year-ago quarter, surpassing the Zacks Consensus Estimate by 3
cents per share.
Revenues in the quarter rose 10.4%
to $3.7 billion from $3.3 billion in the same quarter last year. It
was higher than the Zacks Consensus Estimate of $3.6 billion. The
higher revenues were attributable to improvement in retail new
vehicle sales.
The company’s effort to expand its
dealer network by investing in existing stores and service centers
will help it to outgrow peers. With this, the company retains a
Zacks #1 Rank, which implies a short-term Strong Buy rating.
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AUTONATION INC (AN): Free Stock Analysis Report
FORD MOTOR CO (F): Free Stock Analysis Report
GENERAL MOTORS (GM): Free Stock Analysis Report
HONDA MOTOR (HMC): Free Stock Analysis Report
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
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