Carvana Co (CVNA) Expected to Earn FY2020 Earnings of $0.31 Per Share

Carvana Co (NYSE:CVNA) – B. Riley dropped their FY2020 earnings per share (EPS) estimates for shares of Carvana in a research report issued to clients and investors on Thursday, November 8th. B. Riley analyst S. Sinha now anticipates that the company will post earnings of $0.31 per share for the year, down from their previous forecast of $0.42. B. Riley currently has a “Buy” rating and a $76.00 target price on the stock.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, November 7th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The firm had revenue of $535.00 million during the quarter, compared to analyst estimates of $509.09 million. Carvana had a negative net margin of 5.01% and a negative return on equity of 35.13%. The business’s revenue for the quarter was up 137.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.29) earnings per share.

CVNA has been the topic of several other reports. JMP Securities boosted their price target on Carvana from $35.00 to $63.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 9th. Zacks Investment Research raised Carvana from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Barrington Research reissued a “buy” rating and set a $50.00 price target on shares of Carvana in a research report on Thursday, August 9th. Citigroup boosted their price target on Carvana from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, Wells Fargo & Co boosted their price target on Carvana from $60.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Carvana has an average rating of “Buy” and an average target price of $59.05.

Carvana stock opened at $48.90 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.78 and a current ratio of 2.04. Carvana has a one year low of $13.58 and a one year high of $72.59.

A number of hedge funds have recently bought and sold shares of the business. Rafferty Asset Management LLC purchased a new stake in Carvana during the 3rd quarter worth approximately $276,000. American International Group Inc. increased its holdings in Carvana by 15.8% during the 3rd quarter. American International Group Inc. now owns 21,484 shares of the company’s stock worth $1,269,000 after purchasing an additional 2,931 shares during the last quarter. BlackRock Inc. increased its holdings in Carvana by 13.0% during the 3rd quarter. BlackRock Inc. now owns 2,099,988 shares of the company’s stock worth $124,088,000 after purchasing an additional 241,002 shares during the last quarter. TTP Investments Inc. purchased a new stake in Carvana during the 3rd quarter worth approximately $3,432,000. Finally, Bank of New York Mellon Corp increased its holdings in Carvana by 4.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 685,349 shares of the company’s stock worth $40,496,000 after purchasing an additional 31,721 shares during the last quarter. Institutional investors own 25.96% of the company’s stock.

In other Carvana news, major shareholder Ernest C. Garcia II sold 69,977 shares of Carvana stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $45.23, for a total transaction of $3,165,059.71. Following the sale, the insider now directly owns 52,937,458 shares in the company, valued at approximately $2,394,361,225.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 191,396 shares of Carvana stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $45.40, for a total value of $8,689,378.40. Following the sale, the insider now owns 52,937,458 shares in the company, valued at $2,403,360,593.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,748,686 shares of company stock worth $164,026,447 over the last three months. 21.69% of the stock is currently owned by corporate insiders.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.

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Earnings History and Estimates for Carvana (NYSE:CVNA)

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