Analysts Anticipate CarGurus Inc (CARG) Will Announce Earnings of $0.07 Per Share

Wall Street brokerages expect CarGurus Inc (NASDAQ:CARG) to report $0.07 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for CarGurus’ earnings. The lowest EPS estimate is $0.06 and the highest is $0.09. CarGurus posted earnings of $0.05 per share in the same quarter last year, which would indicate a positive year over year growth rate of 40%. The business is scheduled to announce its next quarterly earnings results on Thursday, March 7th.

According to Zacks, analysts expect that CarGurus will report full-year earnings of $0.28 per share for the current year, with EPS estimates ranging from $0.27 to $0.31. For the next year, analysts anticipate that the business will report earnings of $0.37 per share, with EPS estimates ranging from $0.32 to $0.40. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover CarGurus.

CarGurus (NASDAQ:CARG) last released its earnings results on Wednesday, November 7th. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. The firm had revenue of $119.04 million for the quarter, compared to analysts’ expectations of $112.70 million. CarGurus had a net margin of 11.78% and a return on equity of 9.82%. The company’s quarterly revenue was up 43.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share.

A number of research analysts have weighed in on the stock. SunTrust Banks assumed coverage on shares of CarGurus in a research note on Monday, November 19th. They issued a “buy” rating and a $49.00 target price on the stock. BidaskClub cut shares of CarGurus from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 3rd. Zacks Investment Research cut shares of CarGurus from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Citigroup began coverage on shares of CarGurus in a research report on Friday. They issued a “buy” rating on the stock. Finally, BTIG Research began coverage on shares of CarGurus in a research report on Tuesday, November 13th. They issued a “buy” rating and a $48.00 price target on the stock. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $51.57.

CARG opened at $37.41 on Tuesday. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 311.75, a P/E/G ratio of 55.48 and a beta of 1.83. CarGurus has a twelve month low of $28.52 and a twelve month high of $57.25.

In other news, Director Anastasios Parafestas sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $48.54, for a total value of $5,824,800.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas Michael Caputo sold 3,093 shares of the business’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 transaction of $154,619.07. The disclosure for this sale can be found here. In the last three months, insiders sold 4,817,674 shares of company stock worth $231,547,583. Insiders own 51.03% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. NEXT Financial Group Inc bought a new stake in CarGurus during the 3rd quarter worth approximately $206,000. CIBC Asset Management Inc bought a new stake in CarGurus during the 3rd quarter worth approximately $209,000. LPL Financial LLC bought a new stake in CarGurus during the 3rd quarter worth approximately $234,000. United Services Automobile Association bought a new stake in CarGurus during the 3rd quarter worth approximately $240,000. Finally, Millennium Management LLC increased its holdings in CarGurus by 33.4% during the 2nd quarter. Millennium Management LLC now owns 17,302 shares of the company’s stock worth $601,000 after acquiring an additional 4,334 shares during the period. 68.67% of the stock is currently owned by institutional investors and hedge funds.

About CarGurus

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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