$1.07 Billion in Sales Expected for Carvana Co (NYSE:CVNA) This Quarter

Brokerages forecast that Carvana Co (NYSE:CVNA) will report sales of $1.07 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Carvana’s earnings. The lowest sales estimate is $995.71 million and the highest is $1.13 billion. Carvana posted sales of $584.84 million during the same quarter last year, which would indicate a positive year over year growth rate of 83%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 26th.

On average, analysts expect that Carvana will report full year sales of $3.93 billion for the current fiscal year, with estimates ranging from $3.86 billion to $3.98 billion. For the next fiscal year, analysts forecast that the business will post sales of $5.87 billion, with estimates ranging from $5.34 billion to $6.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Carvana.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, November 6th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.17). The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $997.46 million. Carvana had a negative return on equity of 57.46% and a negative net margin of 3.59%. The firm’s revenue was up 104.7% compared to the same quarter last year. During the same period last year, the company posted ($0.40) EPS.

CVNA has been the subject of a number of research reports. Bank of America reiterated a “buy” rating and issued a $86.00 price objective (up previously from $82.00) on shares of Carvana in a report on Thursday, August 8th. Cowen reiterated an “outperform” rating and issued a $85.00 price objective (up previously from $81.00) on shares of Carvana in a report on Thursday, August 8th. Oppenheimer initiated coverage on shares of Carvana in a report on Thursday, September 19th. They issued an “outperform” rating and a $95.00 price objective for the company. Needham & Company LLC initiated coverage on shares of Carvana in a report on Thursday, September 12th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, Citigroup reiterated a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of Carvana in a report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $79.40.

In other Carvana news, Director Ira J. Platt sold 1,300 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $84.50, for a total transaction of $109,850.00. Following the completion of the sale, the director now owns 23,682 shares of the company’s stock, valued at approximately $2,001,129. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira J. Platt sold 10,700 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $84.51, for a total transaction of $904,257.00. Following the sale, the director now directly owns 33,082 shares of the company’s stock, valued at approximately $2,795,759.82. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $2,087,127 in the last three months. Insiders own 13.02% of the company’s stock.

Several hedge funds have recently made changes to their positions in CVNA. Vanguard Group Inc. grew its position in Carvana by 28.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,859,649 shares of the company’s stock valued at $241,576,000 after purchasing an additional 846,994 shares during the period. Balyasny Asset Management LLC boosted its position in shares of Carvana by 39.7% during the second quarter. Balyasny Asset Management LLC now owns 591,518 shares of the company’s stock valued at $37,023,000 after buying an additional 168,212 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Carvana during the second quarter valued at $9,013,000. Wells Fargo & Company MN boosted its position in shares of Carvana by 123.5% during the second quarter. Wells Fargo & Company MN now owns 249,525 shares of the company’s stock valued at $15,617,000 after buying an additional 137,863 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Carvana by 221.3% during the second quarter. Bank of America Corp DE now owns 191,341 shares of the company’s stock valued at $11,976,000 after buying an additional 131,795 shares during the last quarter. 37.11% of the stock is owned by institutional investors.

Shares of CVNA stock traded up $3.57 on Thursday, reaching $81.57. The company had a trading volume of 1,197,024 shares, compared to its average volume of 1,595,560. The stock has a market capitalization of $11.82 billion, a PE ratio of -47.15 and a beta of 2.20. The company has a quick ratio of 0.92, a current ratio of 2.16 and a debt-to-equity ratio of 2.78. Carvana has a one year low of $28.44 and a one year high of $85.97. The business’s 50-day moving average is $74.65 and its 200 day moving average is $70.37.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. 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 from their desktop or mobile devices.

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Earnings History and Estimates for Carvana (NYSE:CVNA)

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