Brokerages predict that CarGurus Inc (NASDAQ:CARG) will announce earnings of $0.10 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for CarGurus’ earnings, with the highest EPS estimate coming in at $0.11 and the lowest estimate coming in at $0.09. CarGurus posted earnings per share of $0.08 in the same quarter last year, which suggests a positive year over year growth rate of 25%. The business is expected to announce its next quarterly earnings results on Wednesday, November 6th.
On average, analysts expect that CarGurus will report full-year earnings of $0.45 per share for the current financial year, with EPS estimates ranging from $0.43 to $0.46. For the next fiscal year, analysts anticipate that the company will post earnings of $0.65 per share, with EPS estimates ranging from $0.59 to $0.71. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for CarGurus.
CarGurus (NASDAQ:CARG) last announced its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. CarGurus had a net margin of 8.22% and a return on equity of 17.12%. The business had revenue of $145.03 million during the quarter, compared to the consensus estimate of $140.67 million. During the same quarter last year, the firm earned $0.06 earnings per share. CarGurus’s quarterly revenue was up 31.5% on a year-over-year basis.
Several equities research analysts have weighed in on the stock. Needham & Company LLC assumed coverage on shares of CarGurus in a research note on Thursday, September 12th. They issued a “hold” rating for the company. ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. JMP Securities decreased their price target on shares of CarGurus to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Zacks Investment Research raised shares of CarGurus from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research note on Friday, August 9th. Finally, Consumer Edge assumed coverage on shares of CarGurus in a research note on Friday, August 2nd. They issued an “overweight” rating for the company. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $48.42.
Shares of NASDAQ CARG opened at $30.61 on Friday. CarGurus has a twelve month low of $29.64 and a twelve month high of $56.45. The firm has a fifty day simple moving average of $32.55 and a 200 day simple moving average of $36.20. The company has a market capitalization of $4.05 billion, a PE ratio of 53.70, a P/E/G ratio of 2.97 and a beta of 1.88. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.23.
In other news, CEO Langley Steinert sold 176,109 shares of CarGurus stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $36.05, for a total transaction of $6,348,729.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Michael Caputo sold 5,300 shares of CarGurus stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $38.06, for a total transaction of $201,718.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,140,649 shares of company stock valued at $74,645,118. Insiders own 34.51% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CARG. Advisor Group Inc. grew its holdings in shares of CarGurus by 55.1% during the second quarter. Advisor Group Inc. now owns 1,194 shares of the company’s stock valued at $42,000 after buying an additional 424 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of CarGurus by 2,651.8% during the second quarter. Point72 Hong Kong Ltd now owns 2,284 shares of the company’s stock valued at $82,000 after buying an additional 2,201 shares during the last quarter. CSat Investment Advisory L.P. acquired a new position in shares of CarGurus during the second quarter valued at about $90,000. DekaBank Deutsche Girozentrale acquired a new position in shares of CarGurus during the first quarter valued at about $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of CarGurus during the second quarter valued at about $145,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.
CarGurus Company Profile
CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.
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