Copart, Inc. (NASDAQ:CPRT) Expected to Announce Earnings of $0.56 Per Share

Equities research analysts forecast that Copart, Inc. (NASDAQ:CPRT) will announce $0.56 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Copart’s earnings. The lowest EPS estimate is $0.53 and the highest is $0.58. Copart reported earnings per share of $0.42 during the same quarter last year, which would suggest a positive year-over-year growth rate of 33.3%. The firm is scheduled to announce its next earnings results on Wednesday, September 18th.

On average, analysts expect that Copart will report full year earnings of $2.21 per share for the current fiscal year, with EPS estimates ranging from $2.18 to $2.24. For the next year, analysts anticipate that the company will post earnings of $2.51 per share, with EPS estimates ranging from $2.40 to $2.65. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Copart.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The firm had revenue of $553.12 million during the quarter, compared to the consensus estimate of $535.62 million. Copart had a net margin of 28.12% and a return on equity of 31.33%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share.

Several equities research analysts have recently weighed in on the stock. BidaskClub cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barrington Research reiterated a “hold” rating on shares of Copart in a research report on Friday, May 24th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, May 27th. SunTrust Banks increased their price objective on shares of Copart to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, Guggenheim cut shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective for the company. in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $66.77.

In other Copart news, insider William E. Franklin sold 8,993 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $75.01, for a total value of $674,564.93. Following the completion of the sale, the insider now directly owns 26,960 shares in the company, valued at $2,022,269.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO A Jayson Adair sold 179,461 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $74.54, for a total transaction of $13,377,022.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 423,458 shares of company stock valued at $31,198,755. 15.99% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Capital Investment Advisory Services LLC acquired a new stake in Copart in the second quarter worth $29,000. Icon Wealth Partners LLC acquired a new stake in Copart in the first quarter worth $34,000. Cordasco Financial Network grew its holdings in Copart by 170.7% in the second quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock worth $35,000 after purchasing an additional 297 shares during the period. Redhawk Wealth Advisors Inc. bought a new position in shares of Copart in the second quarter valued at $37,000. Finally, Certified Advisory Corp bought a new position in shares of Copart in the second quarter valued at $38,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Shares of CPRT stock traded down $0.02 during trading hours on Tuesday, hitting $75.62. 940,327 shares of the company’s stock traded hands, compared to its average volume of 1,177,562. Copart has a 12 month low of $44.61 and a 12 month high of $79.74. The company has a current ratio of 2.07, a quick ratio of 1.99 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average price of $76.20. The stock has a market cap of $17.33 billion, a PE ratio of 43.71, a PEG ratio of 1.51 and a beta of 0.82.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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