TrueCar, Inc. (NASDAQ:TRUE) Expected to Announce Earnings of -$0.10 Per Share

Wall Street analysts expect TrueCar, Inc. (NASDAQ:TRUE – Get Rating) to announce ($0.10) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for TrueCar’s earnings. The lowest EPS estimate is ($0.12) and the highest is ($0.07). The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that TrueCar will report full-year earnings of ($0.37) per share for the current year, with EPS estimates ranging from ($0.43) to ($0.31). For the next fiscal year, analysts forecast that the business will post earnings of ($0.33) per share, with EPS estimates ranging from ($0.36) to ($0.29). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for TrueCar.

TrueCar (NASDAQ:TRUE – Get Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). TrueCar had a negative net margin of 20.14% and a negative return on equity of 12.45%. The firm had revenue of $45.86 million during the quarter, compared to the consensus estimate of $53.78 million.

A number of equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of TrueCar in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded shares of TrueCar from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Craig Hallum cut shares of TrueCar from a “buy” rating to a “hold” rating and decreased their price objective for the company from $6.00 to $3.50 in a research report on Wednesday, February 23rd. DA Davidson dropped their price objective on shares of TrueCar from $3.85 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, February 24th. Finally, Benchmark decreased their target price on shares of TrueCar from $7.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, February 24th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.25.

Shares of NASDAQ TRUE traded up $0.13 during midday trading on Monday, reaching $3.17. The company’s stock had a trading volume of 575,561 shares, compared to its average volume of 538,141. TrueCar has a fifty-two week low of $2.75 and a fifty-two week high of $6.22. The business’s 50 day moving average price is $3.66 and its two-hundred day moving average price is $3.59.

Hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its position in shares of TrueCar by 20.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,083 shares of the technology company’s stock valued at $63,000 after acquiring an additional 2,540 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in TrueCar by 0.9% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 382,537 shares of the technology company’s stock worth $1,511,000 after purchasing an additional 3,589 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in TrueCar by 5.0% during the 4th quarter. Parametric Portfolio Associates LLC now owns 77,435 shares of the technology company’s stock valued at $263,000 after acquiring an additional 3,675 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of TrueCar by 30.9% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 17,473 shares of the technology company’s stock valued at $73,000 after buying an additional 4,122 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in TrueCar by 47.3% in the 4th quarter. Royce & Associates LP now owns 16,366 shares of the technology company’s stock worth $56,000 after purchasing an additional 5,257 shares during the last quarter.

About TrueCar (Get Rating)

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.

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