Zacks: Analysts Expect CarGurus, Inc. (NASDAQ:CARG) to Announce $0.30 EPS

Brokerages expect that CarGurus, Inc. (NASDAQ:CARG) will post $0.30 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for CarGurus’ earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.32. CarGurus reported earnings of $0.32 per share during the same quarter last year, which would indicate a negative year over year growth rate of 6.3%. The firm is scheduled to report its next earnings results on Thursday, February 10th.

According to Zacks, analysts expect that CarGurus will report full-year earnings of $1.45 per share for the current financial year, with EPS estimates ranging from $1.41 to $1.52. For the next fiscal year, analysts forecast that the business will post earnings of $1.37 per share, with EPS estimates ranging from $1.14 to $1.52. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover CarGurus.

CarGurus (NASDAQ:CARG) last released its earnings results on Monday, November 8th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.19. CarGurus had a return on equity of 24.54% and a net margin of 13.72%. During the same quarter in the prior year, the firm earned $0.30 EPS.

A number of research firms recently weighed in on CARG. DA Davidson lifted their target price on CarGurus from $31.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 15th. Raymond James lifted their target price on CarGurus from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 10th. Benchmark lifted their target price on CarGurus from $59.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, November 10th. Needham & Company LLC raised their price target on shares of CarGurus from $38.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, November 10th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of CarGurus from a “buy” rating to a “hold” rating in a research note on Monday, October 25th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, CarGurus presently has an average rating of “Buy” and an average target price of $42.70.

CARG stock traded down $0.06 during trading on Friday, reaching $36.10. 400,308 shares of the stock were exchanged, compared to its average volume of 1,157,599. CarGurus has a twelve month low of $22.63 and a twelve month high of $39.76. The company has a market capitalization of $4.25 billion, a P/E ratio of 41.02, a price-to-earnings-growth ratio of 4.64 and a beta of 1.81. The stock has a 50 day simple moving average of $34.43 and a 200-day simple moving average of $30.16.

In related news, VP Yann Bruno Gellot sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $34.76, for a total value of $58,883.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction on Monday, November 15th. The stock was sold at an average price of $38.47, for a total transaction of $384,700.00. The disclosure for this sale can be found here. Insiders sold 672,657 shares of company stock valued at $22,940,127 in the last quarter. 21.72% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in shares of CarGurus in the 1st quarter valued at $25,000. First Mercantile Trust Co. acquired a new position in shares of CarGurus in the 3rd quarter valued at $26,000. IFP Advisors Inc acquired a new position in shares of CarGurus in the 3rd quarter valued at $30,000. Baillie Gifford & Co. lifted its position in CarGurus by 38.4% in the 3rd quarter. Baillie Gifford & Co. now owns 1,190 shares of the company’s stock valued at $38,000 after acquiring an additional 330 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in CarGurus in the 2nd quarter valued at $75,000. 78.57% of the stock is owned by institutional investors.

CarGurus Company Profile

Cargurus, Inc engages in the provision of online auto shopping. The firm offers proprietary technology, search algorithms and data analytics to analyze new and used car listings. It operates through the following segments: United States and International. The United States segment derives revenues from marketplace subscriptions, advertising services and other revenues from customers within the United States.

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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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