By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Cassandra Ventura testifies, tells jury freak offs became a job
    Cassandra Ventura testifies, tells jury freak offs became a job
    May 13, 2025
    White South Africans arrive in US after Trump administration granted them refugee status | World News
    White South Africans arrive in US after Trump administration granted them refugee status | World News
    May 13, 2025
    Trump’s Mideast Wish List: + Trillion in Investments – and Some Diplomacy Too
    Trump’s Mideast Wish List: $1+ Trillion in Investments – and Some Diplomacy Too
    May 13, 2025
    Djokovic-Murray coaching partnership ends before French Open | Tennis News
    Djokovic-Murray coaching partnership ends before French Open | Tennis News
    May 13, 2025
    Brussels seeks to sideline Hungary on Russia sanctions renewal – FT — RT World News
    Brussels seeks to sideline Hungary on Russia sanctions renewal – FT — RT World News
    May 13, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Altcoins’ roaring returns and falling USDT stablecoin dominance suggest ‘altseason’ is here
    Altcoins’ roaring returns and falling USDT stablecoin dominance suggest ‘altseason’ is here
    May 14, 2025
    How to Use tsUSDe on TON for Passive Dollar Yield in 2025
    How to Use tsUSDe on TON for Passive Dollar Yield in 2025
    May 13, 2025
    South Korea’s Democratic Party sets up ‘Digital Asset Committee’
    South Korea’s Democratic Party sets up ‘Digital Asset Committee’
    May 13, 2025
    Curve DAO (CRV) price drops as Curve Finance battles DNS attack
    Curve DAO (CRV) price drops as Curve Finance battles DNS attack
    May 13, 2025
    Best crypto to buy: XRP, ADA and Bitcoin Pepe
    Best crypto to buy: XRP, ADA and Bitcoin Pepe
    May 13, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Goldman Sachs raises Auto Trader shares target on robust FY24 results By Investing.com
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Business > Goldman Sachs raises Auto Trader shares target on robust FY24 results By Investing.com
Goldman Sachs raises Auto Trader shares target on robust FY24 results By Investing.com
Business

Goldman Sachs raises Auto Trader shares target on robust FY24 results By Investing.com

Published June 13, 2024
Share
5 Min Read
SHARE

On Thursday, Goldman Sachs adjusted the price target for Auto Trader Group PLC (AUTO:LN) (OTC: ATDRY) shares, raising it to GBP9.13 from the previous GBP8.70, while reiterating a Buy rating for the company’s stock. The adjustment follows the release of Auto Trader’s financial results for the fiscal year 2024.

The company reported group revenues that surpassed Goldman Sachs’ estimates (GSe) and the company-compiled consensus by 2% and 3%, respectively. Additionally, the reported group EBIT (earnings before interest and taxes) was 4% higher than both Goldman Sachs’ expectations and the consensus.

Auto Trader also provided a positive forecast for fiscal year 2025, indicating an expected average revenue per advertiser (ARPA) growth of 8%-10%. This projection aligns with the pre-results expectations of Goldman Sachs and consensus, which were at 9% and 10%, respectively.

Furthermore, the forecast anticipates a marginal decline in retailer forecourt numbers, which is more favorable than the pre-results estimate of a 1% year-over-year decrease anticipated by Goldman Sachs and consensus.

Goldman Sachs noted that the margin guidance of 69% for Auto Trader’s core business, which accounts for the impact of Digital Services Tax (DST), had been anticipated by the market. Excluding the DST, the margin is expected to be around 71%. These figures reflect the company’s solid performance and its strategic outlook moving forward.

In other recent news, Auto Trader Group PLC has reported impressive financial results for the fiscal year 2024. Notably, the company’s group revenue experienced a 14% increase, reaching £570.9 million, surpassing Deutsche Bank’s projection of £558.3 million and the consensus estimate of £556.5 million. The adjusted EBITDA also exceeded expectations, coming in at £375.3 million.

Operational profit, after factoring in deferred payment and acquired intangible amortisation, stood at £348.7 million, outperforming both Deutsche Bank’s estimate and the consensus figure. Furthermore, Auto Trader’s adjusted diluted earnings per share (EPS) was 29.8p, higher than Deutsche Bank’s expectation of 28.9p.

In response to these robust results, Deutsche Bank has raised the price target for Auto Trader shares from £9.10 to £9.49, while maintaining a Buy rating. In addition to this, Auto Trader has returned £250.3 million to its shareholders over the year, comprising £169.9 million through buybacks and £80.4 million in dividends.

These significant developments highlight Auto Trader’s strong performance and operational efficiency during the fiscal year. Despite challenges in the new car market, the company’s strategic advances, such as the development of products to enable direct sales on its platform, have bolstered its market position.

InvestingPro Insights

Building on the analysis by Goldman Sachs, recent data from InvestingPro underscores the financial health and market sentiment around Auto Trader Group PLC (ATDRY). The company’s dedication to shareholder returns is evident as it has raised its dividend for 4 consecutive years and has maintained dividend payments for 9 consecutive years, showcasing a strong commitment to consistent shareholder value.

InvestingPro Data highlights a robust revenue growth of 14.13% over the last twelve months as of Q1 2023, with an even more impressive quarterly revenue growth of 15.97% in Q1 2023. These figures confirm the positive outlook presented by Auto Trader. Additionally, the company’s operating income margin stands at a healthy 60.59%, indicating efficient management and a strong grasp on operational costs.

Yet, investors should note the high Price/Earnings (P/E) ratio of 29.35 and the Price/Book (P/B) ratio of 13.44, which suggest a premium valuation that may warrant caution for value-focused investors. Furthermore, with the stock trading near its 52-week high and at 98.5% of this peak, the market is showing confidence in Auto Trader’s prospects.

For those looking to delve deeper into Auto Trader’s performance and future potential, InvestingPro offers additional insights and analytics. Readers can explore more InvestingPro Tips to make informed decisions, and by using the coupon code PRONEWS24, they can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 14 additional InvestingPro Tips available, investors have a wealth of information at their fingertips to guide their investment strategies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

#Goldman #Sachs #raises #Auto #Trader #shares #target #robust #FY24 #results #Investing.com

TAGGED:AutoFY24GoldmanInvesting.comRaisesResultsrobustSachssharestargetTrader
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Russell Wilson thinks he can rebound with Steelers: ‘I feel the fountain of youth’ Russell Wilson thinks he can rebound with Steelers: ‘I feel the fountain of youth’
Next Article AccountsIQ takes in M to boost its bookkeeping tools with AI AccountsIQ takes in $65M to boost its bookkeeping tools with AI
- Advertisement -

Latest Post

Altcoins’ roaring returns and falling USDT stablecoin dominance suggest ‘altseason’ is here
Altcoins’ roaring returns and falling USDT stablecoin dominance suggest ‘altseason’ is here
Cryptocurrency
Cassandra Ventura testifies, tells jury freak offs became a job
Cassandra Ventura testifies, tells jury freak offs became a job
World News
How to Use tsUSDe on TON for Passive Dollar Yield in 2025
How to Use tsUSDe on TON for Passive Dollar Yield in 2025
Cryptocurrency
White South Africans arrive in US after Trump administration granted them refugee status | World News
White South Africans arrive in US after Trump administration granted them refugee status | World News
World News
South Korea’s Democratic Party sets up ‘Digital Asset Committee’
South Korea’s Democratic Party sets up ‘Digital Asset Committee’
Cryptocurrency
Trump’s Mideast Wish List: + Trillion in Investments – and Some Diplomacy Too
Trump’s Mideast Wish List: $1+ Trillion in Investments – and Some Diplomacy Too
World News
- Advertisement -

You Might Also Like

How big is the risk of nuclear disaster at Ukraine’s Zaporizhzhia plant?
Business

How big is the risk of nuclear disaster at Ukraine’s Zaporizhzhia plant?

July 26, 2023
Elon Musk says Star Wars has become too woke
Business

Elon Musk says Star Wars has become too woke

June 28, 2024
Construction industry ‘roaring ahead’ after rebound in house building
Business

Construction industry ‘roaring ahead’ after rebound in house building

August 7, 2024
Korea Edges Ahead of Rivals to Build Europe’s Nuclear Reactors
Business

Korea Edges Ahead of Rivals to Build Europe’s Nuclear Reactors

July 21, 2024

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?