Zacks: Analysts Expect Carvana Co (NYSE:CVNA) to Announce -$0.64 Earnings Per Share

Brokerages expect Carvana Co (NYSE:CVNA) to announce earnings of ($0.64) per share for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Carvana’s earnings. The highest EPS estimate is ($0.59) and the lowest is ($0.77). Carvana reported earnings of ($0.55) per share in the same quarter last year, which would suggest a negative year over year growth rate of 16.4%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 26th.

Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Carvana.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.17). Carvana had a negative net margin of 3.59% and a negative return on equity of 57.46%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $997.46 million. During the same quarter last year, the firm earned ($0.40) EPS. The company’s revenue for the quarter was up 104.7% on a year-over-year basis.

CVNA has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of Carvana in a report on Thursday, November 7th. Needham & Company LLC initiated coverage on Carvana in a report on Thursday, September 12th. They set a “buy” rating and a $105.00 price objective on the stock. Oppenheimer initiated coverage on Carvana in a report on Thursday, September 19th. They set an “outperform” rating and a $95.00 price objective on the stock. ValuEngine cut Carvana from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, Wells Fargo & Co lifted their price objective on Carvana from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Carvana currently has a consensus rating of “Hold” and an average price target of $82.57.

Shares of NYSE:CVNA traded up $2.25 during trading on Thursday, hitting $97.00. 2,405,213 shares of the company’s stock traded hands, compared to its average volume of 1,671,636. Carvana has a 52 week low of $28.44 and a 52 week high of $97.06. The company has a current ratio of 2.16, a quick ratio of 0.92 and a debt-to-equity ratio of 2.78. The company has a market cap of $14.37 billion, a price-to-earnings ratio of -56.07 and a beta of 2.21. The company has a 50-day moving average price of $85.43 and a 200-day moving average price of $73.33.

In related news, COO Benjamin E. Huston sold 16,201 shares of Carvana stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $90.25, for a total value of $1,462,140.25. Following the sale, the chief operating officer now owns 11,728 shares of the company’s stock, valued at approximately $1,058,452. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ira J. Platt sold 734 shares of Carvana stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $87.50, for a total value of $64,225.00. Following the completion of the sale, the director now directly owns 23,115 shares in the company, valued at approximately $2,022,562.50. The disclosure for this sale can be found here. In the last three months, insiders sold 78,931 shares of company stock worth $7,115,282. 13.02% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in CVNA. Resources Investment Advisors LLC. raised its position in Carvana by 150.0% in the 2nd quarter. Resources Investment Advisors LLC. now owns 500 shares of the company’s stock valued at $31,000 after buying an additional 300 shares during the last quarter. Aperio Group LLC acquired a new stake in Carvana in the 2nd quarter valued at approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Carvana in the 2nd quarter valued at approximately $158,000. Strs Ohio acquired a new stake in Carvana in the 3rd quarter valued at approximately $166,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in shares of Carvana during the 3rd quarter worth approximately $172,000. 41.49% of the stock is currently owned by institutional investors and hedge funds.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. 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 from their desktop or mobile devices.

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Earnings History and Estimates for Carvana (NYSE:CVNA)

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