Wall Street brokerages expect Copart, Inc. (NASDAQ:CPRT) to post earnings of $0.48 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Copart’s earnings. The highest EPS estimate is $0.51 and the lowest is $0.46. Copart reported earnings per share of $0.37 during the same quarter last year, which would indicate a positive year over year growth rate of 29.7%. The firm is scheduled to report its next earnings report on Wednesday, May 23rd.
On average, analysts expect that Copart will report full-year earnings of $1.74 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.79. For the next financial year, analysts forecast that the business will report earnings of $2.06 per share, with EPS estimates ranging from $1.90 to $2.29. Zacks’ EPS calculations are an average based on a survey of analysts that cover Copart.
Copart (NASDAQ:CPRT) last released its quarterly earnings results on Monday, February 26th. The business services provider reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.09. The business had revenue of $459.11 million during the quarter, compared to analyst estimates of $427.11 million. Copart had a net margin of 20.95% and a return on equity of 30.94%. The business’s revenue was up 31.4% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS.
A number of research analysts have commented on the stock. Stephens set a $54.00 price objective on shares of Copart and gave the company a “buy” rating in a research note on Tuesday, February 27th. Jefferies Group reiterated a “hold” rating and set a $47.00 price objective on shares of Copart in a research note on Tuesday, February 27th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Thursday, February 8th. BidaskClub upgraded shares of Copart from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. Finally, SunTrust Banks assumed coverage on shares of Copart in a research note on Thursday, March 22nd. They set a “buy” rating and a $58.00 price objective on the stock. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.86.
In other news, Director Matt Blunt sold 13,333 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $50.74, for a total value of $676,516.42. Following the transaction, the director now directly owns 3,333 shares in the company, valued at approximately $169,116.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 16.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of CPRT. Wolverine Asset Management LLC bought a new position in shares of Copart in the 4th quarter worth about $101,000. YorkBridge Wealth Partners LLC bought a new position in shares of Copart in the 4th quarter worth about $108,000. Captrust Financial Advisors bought a new position in shares of Copart in the 4th quarter worth about $172,000. Assetmark Inc. bought a new position in shares of Copart in the 4th quarter worth about $196,000. Finally, Private Advisor Group LLC bought a new position in shares of Copart in the 3rd quarter worth about $200,000. Institutional investors own 81.03% of the company’s stock.
CPRT traded up $0.86 during trading hours on Wednesday, reaching $50.52. 530,037 shares of the stock traded hands, compared to its average volume of 1,360,852. The firm has a market cap of $11,520.84, a price-to-earnings ratio of 38.87, a PEG ratio of 1.42 and a beta of 0.95. Copart has a fifty-two week low of $28.89 and a fifty-two week high of $51.77. The company has a current ratio of 1.78, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30.
ILLEGAL ACTIVITY WARNING: This news story was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another domain, it was stolen and republished in violation of United States and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2018/04/09/copart-inc-cprt-expected-to-announce-earnings-of-0-48-per-share.html.
Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.
Get a free copy of the Zacks research report on Copart (CPRT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.