Copart, Inc. (CPRT) Expected to Announce Earnings of $0.48 Per Share

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.

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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.

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About Copart

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.

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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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