Zacks: Analysts Expect Chegg Inc (NYSE:CHGG) to Post $0.15 EPS

Equities analysts predict that Chegg Inc (NYSE:CHGG) will report earnings of $0.15 per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Chegg’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.17. Chegg posted earnings per share of $0.12 during the same quarter last year, which indicates a positive year over year growth rate of 25%. The firm is scheduled to announce its next earnings results after the market closes on Monday, July 29th.

On average, analysts expect that Chegg will report full-year earnings of $0.65 per share for the current fiscal year, with EPS estimates ranging from $0.52 to $0.72. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.83 per share, with EPS estimates ranging from $0.70 to $0.89. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Chegg.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.09). The business had revenue of $97.40 million during the quarter, compared to analyst estimates of $94.69 million. Chegg had a negative net margin of 4.86% and a positive return on equity of 4.73%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share.



Several research firms have commented on CHGG. Barrington Research set a $37.00 target price on Lawson Products and gave the company a “buy” rating in a research report on Wednesday, April 17th. Lake Street Capital downgraded CommVault Systems from a “buy” rating to a “hold” rating and dropped their target price for the company from $69.00 to $60.00 in a research report on Tuesday, April 30th. Morgan Stanley reiterated an “equal weight” rating and issued a GBX 250 ($3.27) target price on shares of BT Group in a research report on Tuesday, April 30th. Needham & Company LLC reiterated a “hold” rating on shares of GrubHub in a research report on Wednesday, June 5th. Finally, Craig Hallum reiterated a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Chegg in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Chegg presently has a consensus rating of “Buy” and an average target price of $40.36.

NYSE:CHGG traded down $0.46 during trading hours on Tuesday, hitting $43.33. The company’s stock had a trading volume of 1,014,082 shares, compared to its average volume of 1,509,530. The company has a debt-to-equity ratio of 1.84, a current ratio of 13.96 and a quick ratio of 13.96. The stock has a market capitalization of $5.14 billion, a P/E ratio of 481.44, a P/E/G ratio of 7.60 and a beta of 1.01. Chegg has a twelve month low of $22.67 and a twelve month high of $45.19. The stock has a fifty day simple moving average of $40.09.

In other news, Director John E. York sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $35.42, for a total transaction of $442,750.00. Following the completion of the transaction, the director now directly owns 20,714 shares in the company, valued at $733,689.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael A. Osier sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $44.98, for a total value of $179,920.00. Following the transaction, the insider now owns 526,593 shares of the company’s stock, valued at $23,686,153.14. The disclosure for this sale can be found here. Insiders sold 876,775 shares of company stock valued at $33,332,436 over the last quarter. Corporate insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CHGG. Stephens Inc. AR raised its position in shares of Chegg by 1,027.2% during the first quarter. Stephens Inc. AR now owns 1,781 shares of the technology company’s stock worth $68,000 after acquiring an additional 1,623 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in Chegg in the first quarter worth approximately $71,000. NEXT Financial Group Inc increased its holdings in Chegg by 1,834.0% in the second quarter. NEXT Financial Group Inc now owns 1,934 shares of the technology company’s stock worth $75,000 after purchasing an additional 1,834 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Chegg in the first quarter worth approximately $81,000. Finally, Institutional & Family Asset Management LLC increased its holdings in Chegg by 870.9% in the first quarter. Institutional & Family Asset Management LLC now owns 2,670 shares of the technology company’s stock worth $102,000 after purchasing an additional 2,395 shares in the last quarter.

About Chegg

Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.

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