Brokerages Anticipate TrueCar Inc (TRUE) Will Post Quarterly Sales of $84.92 Million

Equities research analysts forecast that TrueCar Inc (NASDAQ:TRUE) will report sales of $84.92 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for TrueCar’s earnings, with the lowest sales estimate coming in at $83.91 million and the highest estimate coming in at $85.84 million. TrueCar posted sales of $81.06 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The business is expected to report its next earnings report on Tuesday, May 14th.

On average, analysts expect that TrueCar will report full year sales of $374.02 million for the current year, with estimates ranging from $372.38 million to $375.98 million. For the next financial year, analysts expect that the company will report sales of $411.65 million, with estimates ranging from $400.50 million to $427.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow TrueCar.

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

Several research analysts have weighed in on the company. Royal Bank of Canada lowered TrueCar from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $12.00 to $9.00 in a research report on Friday, February 15th. B. Riley reiterated a “neutral” rating and set a $9.50 target price (down from $16.50) on shares of TrueCar in a research report on Friday, February 15th. Zacks Investment Research upgraded TrueCar from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. SunTrust Banks initiated coverage on TrueCar in a research report on Monday, December 17th. They set a “hold” rating for the company. Finally, BTIG Research downgraded TrueCar from a “buy” rating to a “neutral” rating and set a $9.05 target price for the company. in a research report on Friday, December 21st. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $10.45.

Shares of NASDAQ:TRUE traded down $0.10 during trading on Friday, hitting $6.43. 29,640 shares of the company’s stock traded hands, compared to its average volume of 676,371. TrueCar has a 52 week low of $6.19 and a 52 week high of $14.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.15 and a quick ratio of 6.15. The stock has a market capitalization of $683.27 million, a PE ratio of -24.81 and a beta of 2.08.

In other TrueCar news, EVP Robert Mcclung sold 7,736 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $6.90, for a total value of $53,378.40. Following the transaction, the executive vice president now owns 105,070 shares in the company, valued at $724,983. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 8,878 shares of company stock worth $64,045. Corporate insiders own 5.60% of the company’s stock.

A number of large investors have recently made changes to their positions in TRUE. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of TrueCar in the fourth quarter worth approximately $92,000. DekaBank Deutsche Girozentrale raised its stake in shares of TrueCar by 295.6% in the third 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 purchased a new stake in shares of TrueCar in the fourth quarter worth approximately $126,000. Legal & General Group Plc raised its stake in shares of TrueCar by 5.8% in the fourth 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 raised its stake in shares of TrueCar by 4.8% in the fourth 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 and hedge funds 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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