$0.21 EPS Expected for Chegg Inc (CHGG) This Quarter

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Brokerages expect Chegg Inc (NYSE:CHGG) to announce earnings per share of $0.21 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Chegg’s earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at $0.19. Chegg reported earnings of $0.15 per share in the same quarter last year, which would suggest a positive year over year growth rate of 40%. The company is scheduled to issue its next earnings report on Monday, February 11th.

On average, analysts expect that Chegg will report full-year earnings of $0.50 per share for the current fiscal year, with EPS estimates ranging from $0.44 to $0.53. For the next fiscal year, analysts anticipate that the business will post earnings of $0.63 per share, with EPS estimates ranging from $0.56 to $0.71. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Chegg.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, October 29th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. The firm had revenue of $74.20 million during the quarter, compared to the consensus estimate of $69.02 million. Chegg had a positive return on equity of 1.75% and a negative net margin of 5.55%. Chegg’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS.

Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on Chegg from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Zacks Investment Research raised Chegg from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Thursday. Craig Hallum raised Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Barrington Research reissued a “buy” rating and set a $32.00 price target on shares of Chegg in a research report on Friday, October 5th. Finally, Jefferies Financial Group dropped their price target on Chegg from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.80.

Chegg stock traded down $0.48 during mid-day trading on Monday, hitting $27.09. 1,299,582 shares of the company were exchanged, compared to its average volume of 1,624,530. The company has a debt-to-equity ratio of 0.72, a quick ratio of 6.56 and a current ratio of 6.56. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of -301.00, a PEG ratio of 10.78 and a beta of 1.43. Chegg has a 12-month low of $13.80 and a 12-month high of $32.82.

In other news, CEO Daniel Rosensweig sold 150,000 shares of Chegg stock in a transaction on Friday, October 12th. The stock was sold at an average price of $25.43, for a total value of $3,814,500.00. Following the completion of the sale, the chief executive officer now owns 2,378,305 shares of the company’s stock, valued at $60,480,296.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John E. York sold 25,000 shares of Chegg stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $29.10, for a total value of $727,500.00. Following the completion of the sale, the director now directly owns 33,214 shares of the company’s stock, valued at approximately $966,527.40. The disclosure for this sale can be found here. Insiders have sold 565,000 shares of company stock valued at $16,156,650 in the last three months. 10.80% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Chegg by 213.2% in the third quarter. PNC Financial Services Group Inc. now owns 5,678 shares of the technology company’s stock valued at $162,000 after purchasing an additional 3,865 shares during the period. Bank of Montreal Can grew its position in shares of Chegg by 612.4% in the third quarter. Bank of Montreal Can now owns 5,920 shares of the technology company’s stock valued at $168,000 after purchasing an additional 5,089 shares during the period. NewSquare Capital LLC purchased a new stake in shares of Chegg in the second quarter valued at $178,000. BB&T Securities LLC purchased a new stake in shares of Chegg in the second quarter valued at $209,000. Finally, National Asset Management Inc. purchased a new stake in shares of Chegg in the third quarter valued at $223,000.

About Chegg

Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.

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