$0.38 EPS Expected for Chegg, Inc. (NYSE:CHGG) This Quarter

Analysts expect that Chegg, Inc. (NYSE:CHGG) will post $0.38 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Chegg’s earnings, with estimates ranging from $0.35 to $0.46. Chegg reported earnings per share of $0.37 during the same quarter last year, which suggests a positive year over year growth rate of 2.7%. The company is scheduled to issue its next earnings results on Monday, August 2nd.

On average, analysts expect that Chegg will report full year earnings of $1.41 per share for the current financial year, with EPS estimates ranging from $1.32 to $1.65. For the next financial year, analysts expect that the business will report earnings of $1.75 per share, with EPS estimates ranging from $1.59 to $2.04. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Chegg.

Chegg (NYSE:CHGG) last posted its quarterly earnings results on Sunday, May 2nd. The technology company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Chegg had a positive return on equity of 13.35% and a negative net margin of 4.26%. The business had revenue of $198.40 million for the quarter, compared to analyst estimates of $184.59 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The business’s revenue was up 50.8% compared to the same quarter last year.

CHGG has been the subject of several research analyst reports. Jefferies Financial Group upped their target price on shares of Chegg from $115.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, February 9th. Citigroup increased their price objective on shares of Chegg from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, February 10th. FBN Securities began coverage on shares of Chegg in a research note on Tuesday, March 30th. They set an “outperform” rating and a $105.00 price target on the stock. Morgan Stanley raised their target price on shares of Chegg from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 9th. Finally, KeyCorp cut their price target on shares of Chegg from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $104.22.

CHGG traded down $3.62 during trading hours on Thursday, hitting $76.07. 2,464,385 shares of the company’s stock were exchanged, compared to its average volume of 1,842,001. Chegg has a 12-month low of $54.85 and a 12-month high of $115.21. The firm has a 50 day moving average of $88.48 and a 200 day moving average of $88.63. The firm has a market cap of $10.80 billion, a P/E ratio of -380.35, a price-to-earnings-growth ratio of 3.14 and a beta of 0.99. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 2.38.

In related news, CMO Esther Lem sold 34,449 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $89.34, for a total transaction of $3,077,673.66. Following the sale, the chief marketing officer now directly owns 157,835 shares in the company, valued at approximately $14,100,978.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nathan J. Schultz sold 30,000 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $95.26, for a total value of $2,857,800.00. Following the sale, the insider now owns 257,127 shares in the company, valued at $24,493,918.02. The disclosure for this sale can be found here. Insiders have sold 465,668 shares of company stock valued at $45,003,983 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in shares of Chegg in the 1st quarter worth approximately $25,000. AGF Investments LLC boosted its stake in shares of Chegg by 59.6% in the 4th quarter. AGF Investments LLC now owns 308 shares of the technology company’s stock worth $28,000 after buying an additional 115 shares during the last quarter. Ellevest Inc. boosted its stake in shares of Chegg by 269.7% in the 4th quarter. Ellevest Inc. now owns 329 shares of the technology company’s stock worth $30,000 after buying an additional 240 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Chegg in the 1st quarter worth $37,000. Finally, Signaturefd LLC raised its holdings in Chegg by 75.1% during the fourth quarter. Signaturefd LLC now owns 443 shares of the technology company’s stock valued at $40,000 after acquiring an additional 190 shares during the period. 98.48% of the stock is owned by institutional investors.

Chegg Company Profile

Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them to learn their course materials, succeed in their classes, and save money on required materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

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Earnings History and Estimates for Chegg (NYSE:CHGG)

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