Carvana (CVNA) Issues Earnings Results

Carvana (NYSE:CVNA) announced its quarterly earnings results on Wednesday. The company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.03), Briefing.com reports. The business had revenue of $535.00 million for the quarter, compared to analysts’ expectations of $509.09 million. Carvana had a negative net margin of 5.30% and a negative return on equity of 33.44%. The business’s quarterly revenue was up 137.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.29) earnings per share.

NYSE CVNA opened at $49.91 on Friday. Carvana has a 1 year low of $13.58 and a 1 year high of $72.59. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 1.47. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of -41.25 and a beta of 2.13.

A number of analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Carvana from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America upped their price target on shares of Carvana from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday. Barrington Research restated a “buy” rating on shares of Carvana in a research note on Monday. Zacks Investment Research cut shares of Carvana from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Wedbush set a $52.00 price target on shares of Carvana and gave the company a “hold” rating in a research note on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $59.05.

In other Carvana news, major shareholder Ddfs Partnership Lp sold 253,877 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $69.30, for a total value of $17,593,676.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 191,396 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $45.40, for a total transaction of $8,689,378.40. Following the completion of the sale, the insider now owns 52,937,458 shares in the company, valued at $2,403,360,593.20. The disclosure for this sale can be found here. Insiders sold a total of 2,748,686 shares of company stock worth $164,026,447 over the last quarter. Corporate insiders own 21.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. First Mercantile Trust Co. purchased a new stake in Carvana in the 2nd quarter worth approximately $122,000. Global X Management Co LLC purchased a new stake in Carvana in the 2nd quarter worth approximately $124,000. Legal & General Group Plc lifted its stake in Carvana by 61.1% in the 2nd quarter. Legal & General Group Plc now owns 4,251 shares of the company’s stock worth $177,000 after purchasing an additional 1,612 shares in the last quarter. United Services Automobile Association purchased a new stake in Carvana in the 2nd quarter worth approximately $206,000. Finally, Wsfs Capital Management LLC purchased a new stake in Carvana in the 2nd quarter worth approximately $208,000. Institutional investors and hedge funds own 25.96% of the company’s stock.

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Carvana Company Profile

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.

Read More: Ex-Dividend

Earnings History for Carvana (NYSE:CVNA)

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