Equities research analysts predict that CarGurus Inc (NASDAQ:CARG) will announce $0.07 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for CarGurus’ earnings, with estimates ranging from $0.06 to $0.09. CarGurus posted earnings of $0.05 per share in the same quarter last year, which indicates a positive year over year growth rate of 40%. The business is scheduled to issue its next quarterly earnings report on Thursday, March 7th.
On average, analysts expect that CarGurus will report full year earnings of $0.28 per share for the current financial year, with EPS estimates ranging from $0.27 to $0.31. For the next financial year, analysts expect that the business will post earnings of $0.37 per share, with EPS estimates ranging from $0.32 to $0.40. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover CarGurus.
CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. CarGurus had a return on equity of 9.82% and a net margin of 11.78%. The company had revenue of $119.04 million for the quarter, compared to analysts’ expectations of $112.70 million. During the same period in the previous year, the firm posted $0.02 EPS. CarGurus’s revenue was up 43.4% compared to the same quarter last year.
Several research firms recently issued reports on CARG. ValuEngine cut CarGurus from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. BidaskClub cut CarGurus from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 3rd. Royal Bank of Canada lifted their price objective on CarGurus from $55.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, November 8th. BTIG Research began coverage on CarGurus in a report on Tuesday, November 13th. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, SunTrust Banks began coverage on CarGurus in a report on Monday, November 19th. They issued a “buy” rating and a $49.00 price objective on the stock. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $50.75.
CARG stock traded up $0.20 during trading on Thursday, hitting $33.28. The stock had a trading volume of 368,127 shares, compared to its average volume of 736,542. CarGurus has a twelve month low of $28.52 and a twelve month high of $57.25. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 277.33, a PEG ratio of 47.60 and a beta of 1.83.
In other CarGurus news, VP Thomas Michael Caputo sold 3,093 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $49.99, for a total value of $154,619.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Argonaut 22 Llc sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $55.53, for a total transaction of $5,553,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,400,263 shares of company stock worth $152,585,792 over the last three months. Corporate insiders own 51.03% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new position in CarGurus in the 2nd quarter worth approximately $205,000. NEXT Financial Group Inc purchased a new stake in shares of CarGurus during the 3rd quarter valued at approximately $206,000. CIBC Asset Management Inc purchased a new stake in shares of CarGurus during the 3rd quarter valued at approximately $209,000. NumerixS Investment Technologies Inc purchased a new stake in shares of CarGurus during the 2nd quarter valued at approximately $227,000. Finally, LPL Financial LLC purchased a new stake in shares of CarGurus during the 3rd quarter valued at approximately $234,000. 68.67% of the stock is currently owned by institutional investors and hedge funds.
CarGurus Company Profile
CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.
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