Q1 2021 Earnings Forecast for Carvana Co. (NYSE:CVNA) Issued By William Blair

Carvana Co. (NYSE:CVNA) – Equities researchers at William Blair cut their Q1 2021 earnings per share (EPS) estimates for shares of Carvana in a report released on Wednesday, April 28th. William Blair analyst S. Zackfia now anticipates that the company will post earnings of ($0.60) per share for the quarter, down from their previous forecast of ($0.58). William Blair also issued estimates for Carvana’s Q2 2021 earnings at ($0.40) EPS, Q3 2021 earnings at ($0.39) EPS, Q4 2021 earnings at ($0.68) EPS and FY2022 earnings at ($0.78) EPS.

Several other brokerages have also issued reports on CVNA. JMP Securities raised their target price on Carvana from $250.00 to $290.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 4th. Bank of America raised Carvana from a “neutral” rating to a “buy” rating and set a $350.00 price objective on the stock in a research note on Monday. Citigroup increased their target price on shares of Carvana from $305.00 to $350.00 in a research report on Tuesday, March 2nd. Robert W. Baird boosted their price target on shares of Carvana from $285.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 16th. Finally, Raymond James initiated coverage on shares of Carvana in a research note on Tuesday, April 13th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $267.62.

Shares of NYSE:CVNA opened at $289.23 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.42 and a current ratio of 3.18. Carvana has a 52 week low of $80.21 and a 52 week high of $323.39. The firm has a market cap of $49.82 billion, a PE ratio of -105.94 and a beta of 2.52. The firm’s fifty day moving average is $272.59 and its 200-day moving average is $259.11.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.07. Carvana had a negative net margin of 3.06% and a negative return on equity of 43.19%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.59 billion.

Several hedge funds and other institutional investors have recently bought and sold shares of CVNA. Lone Pine Capital LLC purchased a new position in Carvana during the fourth quarter worth about $586,457,000. Jennison Associates LLC boosted its stake in shares of Carvana by 65.6% in the 4th quarter. Jennison Associates LLC now owns 3,202,268 shares of the company’s stock worth $767,071,000 after buying an additional 1,268,656 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Carvana by 44.4% in the 4th quarter. BlackRock Inc. now owns 3,432,778 shares of the company’s stock worth $822,287,000 after buying an additional 1,055,257 shares during the last quarter. Norges Bank bought a new position in shares of Carvana in the fourth quarter valued at approximately $120,790,000. Finally, Pelham Capital Ltd. increased its position in shares of Carvana by 239.6% during the fourth quarter. Pelham Capital Ltd. now owns 577,264 shares of the company’s stock valued at $138,278,000 after acquiring an additional 407,264 shares during the last quarter. Hedge funds and other institutional investors own 48.41% of the company’s stock.

In other news, major shareholder Ernest C. Garcia II sold 11,054 shares of the firm’s stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $296.76, for a total value of $3,280,385.04. Following the transaction, the insider now owns 3,735 shares in the company, valued at $1,108,398.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $297.22, for a total value of $17,833,200.00. Following the transaction, the insider now directly owns 969 shares in the company, valued at approximately $288,006.18. The disclosure for this sale can be found here. Insiders sold 862,490 shares of company stock worth $240,126,239 over the last ninety days. Insiders own 12.25% of the company’s stock.

About Carvana

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 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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