Equities analysts expect that CoStar Group, Inc. (NASDAQ:CSGP) will post earnings of $0.43 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for CoStar Group’s earnings, with estimates ranging from $0.41 to $0.45. CoStar Group reported earnings of $0.73 per share in the same quarter last year, which would suggest a negative year over year growth rate of 41.1%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, July 26th.
On average, analysts expect that CoStar Group will report full year earnings of $3.61 per share for the current year, with EPS estimates ranging from $3.60 to $3.63. For the next fiscal year, analysts forecast that the company will report earnings of $5.62 per share, with EPS estimates ranging from $5.52 to $5.75. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow CoStar Group.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Wednesday, April 26th. The technology company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. CoStar Group had a net margin of 10.47% and a return on equity of 7.23%. The business had revenue of $227 million for the quarter, compared to analysts’ expectations of $224.69 million. During the same period in the previous year, the company earned $0.95 earnings per share. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year.
A number of research firms recently issued reports on CSGP. B. Riley reissued a “buy” rating and issued a $275.00 price objective on shares of CoStar Group in a report on Wednesday, May 3rd. Zacks Investment Research raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $272.00 price objective on the stock in a report on Tuesday, May 2nd. Needham & Company LLC raised their price objective on shares of CoStar Group from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, SunTrust Banks, Inc. raised their price objective on shares of CoStar Group from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. CoStar Group has a consensus rating of “Buy” and an average price target of $271.00.
CoStar Group (NASDAQ CSGP) traded up 1.14% on Monday, reaching $273.88. 287,555 shares of the company’s stock were exchanged. The company has a market cap of $8.97 billion, a PE ratio of 98.52 and a beta of 1.51. CoStar Group has a 52-week low of $179.21 and a 52-week high of $274.35. The firm’s 50 day moving average price is $257.82 and its 200 day moving average price is $219.80.
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In other CoStar Group news, Director Michael R. Klein sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $265.01, for a total transaction of $5,300,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Francis Carchedi sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $245.04, for a total transaction of $1,347,720.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,806 shares of company stock worth $28,471,690. 2.98% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in CoStar Group by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,553,913 shares of the technology company’s stock worth $529,222,000 after buying an additional 99,302 shares during the last quarter. Wellington Management Group LLP boosted its stake in CoStar Group by 37.2% in the first quarter. Wellington Management Group LLP now owns 1,859,435 shares of the technology company’s stock worth $385,312,000 after buying an additional 503,903 shares during the last quarter. William Blair Investment Management LLC boosted its stake in CoStar Group by 0.7% in the first quarter. William Blair Investment Management LLC now owns 1,621,963 shares of the technology company’s stock worth $336,103,000 after buying an additional 10,560 shares during the last quarter. BlackRock Inc. boosted its stake in CoStar Group by 5,124.3% in the first quarter. BlackRock Inc. now owns 1,546,911 shares of the technology company’s stock worth $320,551,000 after buying an additional 1,517,301 shares during the last quarter. Finally, State Street Corp boosted its stake in CoStar Group by 3.2% in the first quarter. State Street Corp now owns 570,780 shares of the technology company’s stock worth $118,272,000 after buying an additional 17,777 shares during the last quarter.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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