Brokerages predict that Copart, Inc. (NASDAQ:CPRT) will announce $506.95 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Copart’s earnings, with the lowest sales estimate coming in at $500.32 million and the highest estimate coming in at $516.72 million. Copart reported sales of $449.22 million during the same quarter last year, which indicates a positive year over year growth rate of 12.9%. The firm is expected to report its next earnings report on Wednesday, September 18th.
On average, analysts expect that Copart will report full-year sales of $2.01 billion for the current fiscal year, with estimates ranging from $2.00 billion to $2.02 billion. For the next year, analysts expect that the business will report sales of $2.19 billion, with estimates ranging from $2.15 billion to $2.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Copart.
Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. Copart had a return on equity of 31.33% and a net margin of 28.12%. The firm had revenue of $553.12 million during the quarter, compared to analysts’ expectations of $535.62 million. During the same quarter last year, the business posted $0.52 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis.
Shares of NASDAQ:CPRT traded up $0.24 during trading on Thursday, hitting $74.55. 1,123,900 shares of the company’s stock were exchanged, compared to its average volume of 1,300,093. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 1.99. Copart has a 52-week low of $44.61 and a 52-week high of $79.74. The business’s 50-day simple moving average is $76.38 and its 200 day simple moving average is $66.92. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 1.50 and a beta of 0.82.
In other Copart news, CEO A Jayson Adair sold 43,997 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $74.72, for a total transaction of $3,287,455.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider William E. Franklin sold 41,007 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $77.37, for a total value of $3,172,711.59. Following the transaction, the insider now owns 58,974 shares of the company’s stock, valued at approximately $4,562,818.38. The disclosure for this sale can be found here. Insiders have sold 423,458 shares of company stock valued at $31,198,755 in the last quarter. 15.99% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Investment Advisory Services LLC bought a new stake in shares of Copart in the 2nd quarter valued at approximately $29,000. Icon Wealth Partners LLC bought a new stake in shares of Copart in the 1st quarter valued at approximately $34,000. Cordasco Financial Network lifted its stake in shares of Copart by 170.7% in the 2nd quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 297 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in shares of Copart in the 2nd quarter valued at approximately $37,000. Finally, Commonwealth Bank of Australia lifted its stake in shares of Copart by 132.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 517 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 295 shares during the last quarter. Institutional investors and hedge funds own 83.78% of the company’s stock.
Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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