Wall Street analysts forecast that Carvana Co (NYSE:CVNA) will report sales of $896.47 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Carvana’s earnings. The lowest sales estimate is $847.21 million and the highest is $949.30 million. Carvana reported sales of $475.29 million during the same quarter last year, which indicates a positive year-over-year growth rate of 88.6%. The firm is expected to report its next earnings results on Wednesday, August 14th.
On average, analysts expect that Carvana will report full-year sales of $3.61 billion for the current fiscal year, with estimates ranging from $3.54 billion to $3.70 billion. For the next financial year, analysts forecast that the firm will post sales of $5.42 billion, with estimates ranging from $5.10 billion to $5.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Carvana.
Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.03). The firm had revenue of $755.23 million for the quarter, compared to analyst estimates of $696.61 million. Carvana had a negative return on equity of 30.85% and a negative net margin of 3.54%.
Several equities analysts recently commented on CVNA shares. Cowen started coverage on shares of Carvana in a research note on Monday, May 20th. They issued an “outperform” rating and a $81.00 price objective for the company. BMO Capital Markets increased their price objective on shares of Carvana to $65.00 and gave the company a “market perform” rating in a research note on Monday, May 13th. Robert W. Baird increased their price objective on shares of Carvana from $65.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Wedbush increased their price objective on shares of Carvana from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Citigroup increased their price objective on shares of Carvana from $80.00 to $90.00 and gave the company a “positive” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Carvana presently has an average rating of “Hold” and an average price target of $67.42.
Shares of NYSE CVNA traded down $0.03 during trading hours on Friday, hitting $61.25. 764,982 shares of the stock were exchanged, compared to its average volume of 1,775,503. The company has a current ratio of 1.39, a quick ratio of 0.56 and a debt-to-equity ratio of 2.73. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of -35.40 and a beta of 2.68. Carvana has a 1-year low of $28.44 and a 1-year high of $76.85.
In related news, major shareholder Ernest C. Garcia II sold 172,357 shares of Carvana stock in a transaction on Friday, June 7th. The shares were sold at an average price of $62.96, for a total transaction of $10,851,596.72. Following the completion of the transaction, the insider now owns 52,937,458 shares of the company’s stock, valued at $3,332,942,355.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 86,537 shares of Carvana stock in a transaction on Friday, May 10th. The stock was sold at an average price of $68.48, for a total transaction of $5,926,053.76. Following the transaction, the chief operating officer now directly owns 98,809 shares of the company’s stock, valued at approximately $6,766,440.32. The disclosure for this sale can be found here. Insiders have sold 3,390,709 shares of company stock valued at $210,956,281 in the last ninety days. Insiders own 13.02% of the company’s stock.
Large investors have recently bought and sold shares of the business. HAP Trading LLC acquired a new stake in Carvana in the fourth quarter worth $5,549,000. Bank of America Corp DE grew its holdings in Carvana by 22.3% in the fourth quarter. Bank of America Corp DE now owns 94,059 shares of the company’s stock worth $3,077,000 after purchasing an additional 17,148 shares during the period. First Mercantile Trust Co. grew its holdings in Carvana by 34.1% in the fourth quarter. First Mercantile Trust Co. now owns 3,061 shares of the company’s stock worth $100,000 after purchasing an additional 779 shares during the period. Phoenician Capital LLC grew its holdings in Carvana by 7.3% in the first quarter. Phoenician Capital LLC now owns 400,000 shares of the company’s stock worth $23,224,000 after purchasing an additional 27,044 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in Carvana by 100.0% in the first quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the company’s stock worth $58,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 37.08% of the company’s stock.
Carvana Company Profile
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. 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 from their desktop or mobile devices.
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