Brokerages expect Carvana Co (NYSE:CVNA) to post earnings of ($0.34) per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Carvana’s earnings, with the lowest EPS estimate coming in at ($0.37) and the highest estimate coming in at ($0.32). Carvana posted earnings per share of ($0.28) during the same quarter last year, which suggests a negative year-over-year growth rate of 21.4%. The business is scheduled to report its next quarterly earnings report on Tuesday, August 14th.
Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Carvana.
Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 9th. The company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.01). Carvana had a negative return on equity of 30.96% and a negative net margin of 6.09%. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $355.85 million. During the same period in the previous year, the company earned ($0.28) earnings per share. The company’s quarterly revenue was up 126.3% compared to the same quarter last year.
A number of equities research analysts have issued reports on CVNA shares. Wedbush set a $24.00 price target on shares of Carvana and gave the company a “neutral” rating in a report on Tuesday, April 24th. Deutsche Bank upgraded shares of Carvana from a “hold” rating to a “buy” rating in a report on Thursday, May 10th. Barrington Research upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $26.00 price target for the company in a report on Friday, March 9th. Wells Fargo & Co restated a “buy” rating and set a $44.00 price target on shares of Carvana in a report on Sunday. Finally, B. Riley upgraded shares of Carvana from a “sell” rating to a “buy” rating and upped their price target for the company from $20.00 to $38.00 in a report on Thursday, May 10th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $26.42.
CVNA stock traded up $2.43 during mid-day trading on Tuesday, reaching $40.36. 2,054,906 shares of the stock traded hands, compared to its average volume of 1,357,121. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.29 and a quick ratio of 0.58. Carvana has a 52 week low of $12.17 and a 52 week high of $45.21. The stock has a market capitalization of $5.30 billion and a price-to-earnings ratio of -33.36.
In related news, major shareholder Ernest C. Garcia II sold 1,650,000 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $26.26, for a total value of $43,329,000.00. Following the completion of the sale, the insider now owns 60,937,458 shares in the company, valued at $1,600,217,647.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul W. Breaux sold 5,000 shares of the stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the sale, the insider now owns 5,000 shares of the company’s stock, valued at approximately $137,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,320,000 shares of company stock valued at $61,134,000. 21.69% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Chicago Capital LLC bought a new position in shares of Carvana during the first quarter worth $14,134,000. Spruce House Investment Management LLC acquired a new stake in shares of Carvana during the first quarter worth $6,486,000. Clearbridge Investments LLC boosted its stake in Carvana by 24.2% during the fourth quarter. Clearbridge Investments LLC now owns 1,345,559 shares of the company’s stock worth $25,727,000 after acquiring an additional 262,075 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Carvana by 48.8% during the first quarter. Penserra Capital Management LLC now owns 558,924 shares of the company’s stock worth $12,816,000 after acquiring an additional 183,311 shares in the last quarter. Finally, Sylebra HK Co Ltd boosted its stake in Carvana by 12.7% during the fourth quarter. Sylebra HK Co Ltd now owns 1,468,304 shares of the company’s stock worth $28,074,000 after acquiring an additional 165,884 shares in the last quarter. 16.03% of the stock is owned by hedge funds and other institutional investors.
Carvana Company Profile
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. 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.
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