Carvana Co (NYSE:CVNA) – Equities research analysts at William Blair reduced their Q3 2018 earnings per share (EPS) estimates for shares of Carvana in a report issued on Monday, October 29th. William Blair analyst S. Zackfia now anticipates that the company will earn ($0.37) per share for the quarter, down from their previous forecast of ($0.35). William Blair also issued estimates for Carvana’s Q4 2018 earnings at ($0.40) EPS, FY2018 earnings at ($1.54) EPS, FY2019 earnings at ($0.93) EPS and FY2020 earnings at $0.49 EPS.
Several other brokerages have also commented on CVNA. Zacks Investment Research lowered shares of Carvana from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Robert W. Baird upped their price target on shares of Carvana from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Citigroup upped their price target on shares of Carvana from $60.00 to $67.00 and gave the stock an “average” rating in a research report on Thursday, August 9th. Craig Hallum set a $48.00 price target on shares of Carvana and gave the stock a “hold” rating in a research report on Thursday, August 9th. Finally, Wedbush reaffirmed a “neutral” rating and set a $40.00 price target (up previously from $24.00) on shares of Carvana in a research report on Monday, August 6th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.86.
Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, August 8th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.03). Carvana had a negative return on equity of 33.44% and a negative net margin of 5.30%. The company had revenue of $475.29 million for the quarter, compared to analyst estimates of $425.16 million. During the same period last year, the company posted ($0.28) EPS. The business’s revenue for the quarter was up 127.0% on a year-over-year basis.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Legal & General Group Plc boosted its stake in shares of Carvana by 61.1% in the second quarter. Legal & General Group Plc now owns 4,251 shares of the company’s stock valued at $177,000 after purchasing an additional 1,612 shares during the period. First Mercantile Trust Co. purchased a new position in shares of Carvana in the second quarter valued at $122,000. Global X Management Co LLC purchased a new position in shares of Carvana in the second quarter valued at $124,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Carvana by 46.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 11,961 shares of the company’s stock valued at $707,000 after purchasing an additional 3,788 shares during the period. Finally, Farmers Trust Co. purchased a new position in shares of Carvana in the third quarter valued at $236,000. Institutional investors own 25.95% of the company’s stock.
In other Carvana news, major shareholder Ernest C. Garcia II sold 13,249 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $57.39, for a total transaction of $760,360.11. Following the completion of the sale, the insider now directly owns 52,937,458 shares in the company, valued at $3,038,080,714.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ddfs Partnership Lp sold 896,542 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $64.93, for a total transaction of $58,212,472.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,471,036 shares of company stock valued at $151,403,886. 21.69% of the stock is owned by insiders.
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.
Featured Story: Understanding Analyst Recommendations
Receive News & Ratings for Carvana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana and related companies with MarketBeat.com's FREE daily email newsletter.