$0.07 EPS Expected for CarGurus Inc (CARG) This Quarter

Wall Street brokerages expect CarGurus Inc (NASDAQ:CARG) to post earnings per share of $0.07 for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for CarGurus’ earnings. The highest EPS estimate is $0.09 and the lowest is $0.07. CarGurus reported earnings of $0.06 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that CarGurus will report full year earnings of $0.42 per share for the current year, with EPS estimates ranging from $0.40 to $0.45. For the next year, analysts expect that the company will post earnings of $0.64 per share, with EPS estimates ranging from $0.58 to $0.68. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow CarGurus.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, May 9th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $135.30 million during the quarter, compared to analyst estimates of $129.54 million. CarGurus had a net margin of 13.94% and a return on equity of 18.43%. The company’s quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter last year, the business earned $0.06 earnings per share.

A number of equities analysts have recently commented on CARG shares. Benchmark restated a “buy” rating and issued a $50.00 price objective on shares of CarGurus in a research report on Friday, March 1st. Citigroup raised their price objective on shares of CarGurus from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, March 1st. BidaskClub upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Zacks Investment Research lowered shares of CarGurus from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, SunTrust Banks restated a “buy” rating and issued a $52.00 price objective on shares of CarGurus in a research report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $49.73.

NASDAQ:CARG traded down $0.02 on Tuesday, reaching $36.77. 872,519 shares of the company’s stock were exchanged, compared to its average volume of 896,997. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $4.07 billion, a PE ratio of 64.51, a P/E/G ratio of 7.20 and a beta of 1.86. CarGurus has a 52 week low of $30.29 and a 52 week high of $57.25.

In related news, Director Anastasios Parafestas sold 24,039 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $40.05, for a total value of $962,761.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas Michael Caputo sold 5,353 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $41.33, for a total transaction of $221,239.49. The disclosure for this sale can be found here. Insiders sold 3,355,011 shares of company stock worth $133,100,720 over the last ninety days. 34.51% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System raised its stake in CarGurus by 1.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,972 shares of the company’s stock valued at $880,000 after purchasing an additional 270 shares in the last quarter. Principal Financial Group Inc. raised its stake in CarGurus by 3.8% in the first quarter. Principal Financial Group Inc. now owns 8,669 shares of the company’s stock valued at $347,000 after purchasing an additional 320 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in CarGurus by 0.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 52,080 shares of the company’s stock valued at $2,086,000 after purchasing an additional 460 shares in the last quarter. Advisor Group Inc. raised its stake in shares of CarGurus by 281.2% during the first quarter. Advisor Group Inc. now owns 770 shares of the company’s stock worth $31,000 after acquiring an additional 568 shares in the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of CarGurus during the fourth quarter worth approximately $30,000. 72.34% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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