$148.17 Million in Sales Expected for CarGurus Inc (NASDAQ:CARG) This Quarter

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Wall Street analysts expect that CarGurus Inc (NASDAQ:CARG) will report $148.17 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for CarGurus’ earnings, with estimates ranging from $146.52 million to $151.20 million. CarGurus reported sales of $119.04 million during the same quarter last year, which indicates a positive year over year growth rate of 24.5%. The company is scheduled to report its next earnings results on Wednesday, November 6th.

On average, analysts expect that CarGurus will report full-year sales of $583.13 million for the current year, with estimates ranging from $579.24 million to $589.00 million. For the next financial year, analysts expect that the business will report sales of $704.21 million, with estimates ranging from $682.65 million to $717.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for CarGurus.

CarGurus (NASDAQ:CARG) last announced its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The company had revenue of $145.03 million during the quarter, compared to the consensus estimate of $140.67 million. CarGurus had a net margin of 8.22% and a return on equity of 17.12%. CarGurus’s revenue was up 31.5% compared to the same quarter last year. During the same period last year, the firm earned $0.06 earnings per share.

Several research firms have recently commented on CARG. Cowen began coverage on shares of CarGurus in a research note on Monday, May 20th. They set a “market perform” rating and a $42.00 price objective for the company. JMP Securities reduced their price objective on CarGurus to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Zacks Investment Research upgraded CarGurus from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research note on Friday, August 9th. TheStreet lowered CarGurus from a “c-” rating to a “d+” rating in a research note on Tuesday, May 14th. Finally, Benchmark restated a “buy” rating and issued a $51.00 price objective on shares of CarGurus in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.42.

CARG traded up $0.12 during trading on Thursday, hitting $31.21. The stock had a trading volume of 1,112,300 shares, compared to its average volume of 932,039. CarGurus has a twelve month low of $30.22 and a twelve month high of $57.25. The stock has a 50 day simple moving average of $35.48 and a two-hundred day simple moving average of $37.80. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market capitalization of $4.11 billion, a PE ratio of 54.75, a PEG ratio of 3.47 and a beta of 1.83.

In related news, COO Samuel Zales sold 18,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.60, for a total value of $568,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Langley Steinert sold 117,406 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $33.68, for a total transaction of $3,954,234.08. The disclosure for this sale can be found here. Insiders sold a total of 2,822,971 shares of company stock valued at $101,219,941 in the last ninety days. 34.51% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in shares of CarGurus by 4.1% during the first quarter. The Manufacturers Life Insurance Company now owns 7,494,720 shares of the company’s stock worth $300,238,000 after acquiring an additional 295,775 shares during the period. Capital Impact Advisors LLC acquired a new stake in CarGurus in the second quarter valued at approximately $1,967,000. Menta Capital LLC acquired a new stake in CarGurus in the first quarter valued at approximately $453,000. Calamos Advisors LLC acquired a new stake in CarGurus in the first quarter valued at approximately $210,000. Finally, Norges Bank acquired a new stake in CarGurus in the fourth quarter valued at approximately $15,947,000. 75.46% of the stock is 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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