$140.93 Million in Sales Expected for CarGurus Inc (NASDAQ:CARG) This Quarter

Brokerages expect CarGurus Inc (NASDAQ:CARG) to post sales of $140.93 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for CarGurus’ earnings. The lowest sales estimate is $139.20 million and the highest is $143.80 million. CarGurus posted sales of $110.33 million in the same quarter last year, which suggests a positive year over year growth rate of 27.7%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 6th.

On average, analysts expect that CarGurus will report full year sales of $578.89 million for the current fiscal year, with estimates ranging from $575.06 million to $586.90 million. For the next year, analysts anticipate that the company will report sales of $702.88 million, with estimates ranging from $682.65 million to $716.70 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow CarGurus.

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

CARG has been the topic of several research reports. TheStreet downgraded CarGurus from a “c-” rating to a “d+” rating in a research report on Tuesday, May 14th. Zacks Investment Research downgraded CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 15th. BidaskClub downgraded CarGurus from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. BTIG Research decreased their target price on CarGurus to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Finally, Citigroup upped their target price on CarGurus from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $49.25.

Shares of CarGurus stock traded down $0.15 on Friday, hitting $35.33. The stock had a trading volume of 1,057,370 shares, compared to its average volume of 832,434. CarGurus has a twelve month low of $30.29 and a twelve month high of $57.25. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 61.98, a PEG ratio of 6.87 and a beta of 1.95.

In other CarGurus news, CEO Langley Steinert sold 117,406 shares of CarGurus stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $35.18, for a total transaction of $4,130,343.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anastasios Parafestas sold 109,111 shares of CarGurus stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.92, for a total transaction of $4,246,600.12. The disclosure for this sale can be found here. Insiders have sold 3,274,724 shares of company stock worth $125,957,547 in the last three months. 34.51% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its stake in shares of CarGurus by 1.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,972 shares of the company’s stock worth $880,000 after buying an additional 270 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of 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. lifted its holdings in shares of 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. lifted its holdings in shares of CarGurus by 281.2% in the first quarter. Advisor Group Inc. now owns 770 shares of the company’s stock valued at $31,000 after purchasing an additional 568 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of CarGurus in the fourth quarter valued at about $30,000. 74.84% of the stock is currently owned by hedge funds and other institutional investors.

About CarGurus

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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