-$0.50 EPS Expected for Carvana Co (CVNA) This Quarter

Wall Street analysts expect that Carvana Co (NYSE:CVNA) will post ($0.50) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Carvana’s earnings. The highest EPS estimate is ($0.43) and the lowest is ($0.54). Carvana reported earnings per share of ($0.40) during the same quarter last year, which would suggest a negative year-over-year growth rate of 25%. The company is expected to announce its next earnings report after the market closes on Wednesday, May 8th.

Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Carvana.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 27th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.08). The business had revenue of $584.80 million for the quarter, compared to analysts’ expectations of $601.14 million. Carvana had a negative return on equity of 21.06% and a negative net margin of 3.16%. The company’s revenue for the quarter was up 120.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.36) EPS.

Several brokerages recently weighed in on CVNA. Zacks Investment Research raised Carvana from a “sell” rating to a “hold” rating in a research report on Monday, March 18th. Robert W. Baird increased their target price on Carvana from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Barrington Research lowered Carvana from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 3rd. BMO Capital Markets increased their target price on Carvana from $35.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, March 1st. Finally, Citigroup increased their target price on Carvana to $65.00 and gave the stock a “buy” rating in a research report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $54.73.

Shares of CVNA opened at $62.98 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.76 and a current ratio of 2.01. The firm has a market capitalization of $9.17 billion, a P/E ratio of -36.40 and a beta of 2.39. Carvana has a twelve month low of $24.03 and a twelve month high of $72.59.

In related news, major shareholder Ernest C. Garcia II sold 316,678 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $48.13, for a total value of $15,241,712.14. Following the completion of the sale, the insider now directly owns 52,937,458 shares in the company, valued at approximately $2,547,879,853.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 307,419 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $45.16, for a total value of $13,883,042.04. Following the completion of the sale, the insider now owns 52,937,458 shares of the company’s stock, valued at $2,390,655,603.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,690,290 shares of company stock valued at $148,097,490. 13.02% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Valeo Financial Advisors LLC grew its stake in shares of Carvana by 100.0% during the first quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the company’s stock valued at $58,000 after acquiring an additional 500 shares in the last quarter. First Mercantile Trust Co. grew its stake in shares of Carvana by 34.1% during the fourth quarter. First Mercantile Trust Co. now owns 3,061 shares of the company’s stock valued at $100,000 after acquiring an additional 779 shares in the last quarter. CX Institutional acquired a new stake in shares of Carvana during the fourth quarter valued at about $106,000. Credit Suisse AG acquired a new stake in shares of Carvana during the third quarter valued at about $201,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Carvana during the third quarter valued at about $214,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. 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.

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Earnings History and Estimates for Carvana (NYSE:CVNA)

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