Equities research analysts forecast that CarGurus Inc (NASDAQ:CARG) will report earnings per share (EPS) of $0.14 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for CarGurus’ earnings. The lowest EPS estimate is $0.12 and the highest is $0.15. CarGurus posted earnings per share of $0.11 during the same quarter last year, which suggests a positive year over year growth rate of 27.3%. The company is scheduled to announce its next earnings report on Thursday, February 27th.
On average, analysts expect that CarGurus will report full-year earnings of $0.49 per share for the current fiscal year, with EPS estimates ranging from $0.47 to $0.50. For the next financial year, analysts forecast that the company will report earnings of $0.68 per share, with EPS estimates ranging from $0.56 to $0.74. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover CarGurus.
CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.10. The firm had revenue of $150.50 million for the quarter, compared to analyst estimates of $147.99 million. CarGurus had a net margin of 7.44% and a return on equity of 18.30%. The company’s revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS.
A number of analysts have issued reports on the stock. Royal Bank of Canada cut their price objective on shares of CarGurus to $50.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Consumer Edge started coverage on shares of CarGurus in a research note on Friday, August 2nd. They issued an “overweight” rating on the stock. BidaskClub raised shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. JMP Securities dropped their price target on shares of CarGurus to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Needham & Company LLC initiated coverage on shares of CarGurus in a report on Thursday, September 12th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.58.
CARG traded up $0.30 on Tuesday, reaching $38.10. The company had a trading volume of 5,644 shares, compared to its average volume of 863,212. CarGurus has a fifty-two week low of $28.65 and a fifty-two week high of $45.25. The stock has a market cap of $5.00 billion, a P/E ratio of 66.89, a P/E/G ratio of 2.72 and a beta of 1.88. The company’s fifty day moving average is $32.12 and its 200 day moving average is $34.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.85 and a current ratio of 2.85.
In other CarGurus news, CFO Jason Trevisan sold 3,000 shares of CarGurus stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $30.95, for a total transaction of $92,850.00. Following the completion of the sale, the chief financial officer now directly owns 325,183 shares in the company, valued at $10,064,413.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anastasios Parafestas sold 20,000 shares of CarGurus stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $31.12, for a total transaction of $622,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,260,605 shares of company stock valued at $40,835,874. 34.51% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CARG. Tower Research Capital LLC TRC lifted its holdings in shares of CarGurus by 208.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,114 shares of the company’s stock worth $34,000 after acquiring an additional 753 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of CarGurus by 55.1% in the 2nd quarter. Advisor Group Inc. now owns 1,194 shares of the company’s stock worth $42,000 after acquiring an additional 424 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of CarGurus by 2,651.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,284 shares of the company’s stock worth $82,000 after acquiring an additional 2,201 shares during the last quarter. CSat Investment Advisory L.P. bought a new stake in shares of CarGurus in the 2nd quarter worth approximately $90,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of CarGurus in the 2nd quarter worth approximately $145,000. Hedge funds and other institutional investors own 66.14% of the company’s stock.
CarGurus Company Profile
CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.
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