The end of the great car boom: AP Eagers issues surprise earnings downgrade
The great car boom has ended with the country’s biggest dealer, AP Eagers, issuing a surprise earnings downgrade, which saw the shares slump almost 20%.
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Eagers Automotive Limited
Eagers Automotive has a long and proud history in Australia operating within the automotive industry that extends for over 100 years.
EA has shown resilience and innovation throughout the ever changing automotive landscape while being true to its heritage and has seen the company grow to what it is today; the number one oldest listed automotive retail group in the country.
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News
Eagers Automotive takes bigger stake in electric vehicle JV
03 Jul 2023 - Eagers Automotive (ASX:APE) has increased its interest in the retail joint venture with electric vehicle manufacturer BYD.
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Eagers’ Timely Shift to Electric Paying Off
Eagers Automotive reckons rising demand for EVs - especially BYD - will help it offset an expected softening in sales over the next two years.
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Eagers Humming Along on All Cylinders
On Thursday, the sector’s major player Eagers Automotive confirmed the continuing longevity of the car industry boom, saying there's more to come as the transition to EVs takes over.
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Turnaround Continues as Eagers Beavers Away
Yesterday car dealer Eagers Automotive revealed a further upgrade for its interim results to the one issued on May 18, helping the share price continue its recovery from mid-June lows.
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APE – Morgans rates the stock as Add
The broker downgrades forecasts for Eagers Automotive and the target price falls to $14.00 from $14.40, while the Add rating is unchanged.
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APE – Morgans rates the stock as Add
The target price, lowered to $14.40 from $16.70, is still well in advance of the current share price and the Add rating is retained.
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Wednesday Whispers: BSL, BLD, APE
A fair bit of news around the ASX on Wednesday, and here's all the latest from steelmaking giant BlueScope, Kerry Stokes-controlled Boral and local automative retailer Eagers.
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APE – Morgans rates the stock as Add
The broker reduces its target price to $17.20 from $20.45. The Add rating rating is maintained, given the potential for EA123 strategy execution and ongoing efficiency improvements.
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