TrueCar Inc (TRUE) Expected to Announce Quarterly Sales of $84.92 Million

Equities research analysts expect that TrueCar Inc (NASDAQ:TRUE) will announce sales of $84.92 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for TrueCar’s earnings, with estimates ranging from $83.91 million to $85.84 million. TrueCar reported sales of $81.06 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 14th.

On average, analysts expect that TrueCar will report full year sales of $374.02 million for the current fiscal year, with estimates ranging from $372.38 million to $375.98 million. For the next fiscal year, analysts expect that the business will post sales of $411.65 million, with estimates ranging from $400.50 million to $427.80 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for TrueCar.

TrueCar (NASDAQ:TRUE) last issued its earnings results on Thursday, February 14th. The technology company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.02). TrueCar had a negative return on equity of 7.85% and a negative net margin of 8.01%. The business had revenue of $91.10 million for the quarter, compared to the consensus estimate of $96.03 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year.

Several research firms have recently commented on TRUE. Benchmark reduced their price objective on TrueCar from $16.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, February 15th. Zacks Investment Research raised shares of TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, February 21st. SunTrust Banks began coverage on shares of TrueCar in a research note on Monday, December 17th. They set a “hold” rating on the stock. Craig Hallum downgraded shares of TrueCar from a “buy” rating to a “hold” rating and set a $10.00 target price on the stock. in a research note on Friday, February 15th. Finally, B. Riley reaffirmed a “neutral” rating and set a $9.50 target price (down from $16.50) on shares of TrueCar in a research note on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.45.

NASDAQ:TRUE traded down $0.10 during mid-day trading on Friday, reaching $6.43. 29,640 shares of the company’s stock traded hands, compared to its average volume of 676,371. TrueCar has a 12-month low of $6.19 and a 12-month high of $14.55. The company has a market cap of $683.27 million, a PE ratio of -24.81 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.15 and a quick ratio of 6.15.

In other news, EVP Robert Mcclung sold 7,736 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $6.90, for a total value of $53,378.40. Following the completion of the sale, the executive vice president now owns 105,070 shares in the company, valued at approximately $724,983. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 8,878 shares of company stock valued at $64,045 in the last 90 days. Company insiders own 5.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. acquired a new position in TrueCar during the fourth quarter valued at approximately $92,000. DekaBank Deutsche Girozentrale increased its position in shares of TrueCar by 295.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,911 shares of the technology company’s stock worth $101,000 after purchasing an additional 5,911 shares during the last quarter. Amalgamated Bank acquired a new position in shares of TrueCar during the 4th quarter worth approximately $126,000. Legal & General Group Plc increased its position in shares of TrueCar by 5.8% during the 4th quarter. Legal & General Group Plc now owns 35,262 shares of the technology company’s stock worth $319,000 after purchasing an additional 1,935 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of TrueCar by 4.8% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 45,626 shares of the technology company’s stock worth $413,000 after purchasing an additional 2,089 shares during the last quarter. Institutional investors own 95.09% of the company’s stock.

TrueCar Company Profile

TrueCar, Inc engages in the operation of data-driven online platform which provides dealers and automakers with automobile information. It provides pricing transparency about what other people paid for their cars. The company products include Used Cars for Sale, Sell My Car, Local Pricing, and Lease a Car.

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Earnings History and Estimates for TrueCar (NASDAQ:TRUE)

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