Cars.com (NYSE:CARS) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Cars.com (NYSE:CARS) released its quarterly earnings results on Monday. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.08), Briefing.com reports. The firm had revenue of $148.20 million for the quarter, compared to analyst estimates of $160.18 million. Cars.com had a net margin of 4.40% and a return on equity of 7.34%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 EPS. Cars.com updated its FY 2019 guidance to EPS.

Shares of NYSE CARS traded down $1.54 during trading on Tuesday, hitting $10.28. The company had a trading volume of 166,981 shares, compared to its average volume of 806,296. The firm’s fifty day simple moving average is $20.30. Cars.com has a fifty-two week low of $10.30 and a fifty-two week high of $29.54. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 5.68, a price-to-earnings-growth ratio of 2.37 and a beta of 0.69. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.41.

Several hedge funds and other institutional investors have recently made changes to their positions in CARS. Norges Bank acquired a new stake in shares of Cars.com in the fourth quarter valued at about $20,127,000. Sapience Investments LLC lifted its stake in shares of Cars.com by 134.5% in the first quarter. Sapience Investments LLC now owns 1,375,630 shares of the company’s stock worth $31,364,000 after buying an additional 788,980 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Cars.com by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,803,943 shares of the company’s stock worth $124,785,000 after buying an additional 462,594 shares in the last quarter. FMR LLC lifted its stake in shares of Cars.com by 26.7% in the first quarter. FMR LLC now owns 1,052,622 shares of the company’s stock worth $24,000,000 after buying an additional 222,027 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Cars.com by 38.9% in the first quarter. New York State Common Retirement Fund now owns 337,510 shares of the company’s stock worth $7,695,000 after buying an additional 94,600 shares in the last quarter.

Several research firms recently commented on CARS. Barrington Research lowered shares of Cars.com from an “outperform” rating to a “market perform” rating in a research report on Tuesday. B. Riley dropped their price target on shares of Cars.com from $31.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday. ValuEngine lowered shares of Cars.com from a “sell” rating to a “strong sell” rating in a research report on Tuesday. DA Davidson lowered shares of Cars.com from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, Citigroup restated a “buy” rating and set a $19.00 price target (down previously from $27.00) on shares of Cars.com in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $25.56.

About Cars.com

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.

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Earnings History for Cars.com (NYSE:CARS)

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