Brokerages predict that Cars.com Inc. (NYSE:CARS) will post sales of $168.13 million for the current quarter, Zacks reports. Three analysts have provided estimates for Cars.com’s earnings, with the highest sales estimate coming in at $169.84 million and the lowest estimate coming in at $166.90 million. Cars.com posted sales of $159.90 million during the same quarter last year, which suggests a positive year over year growth rate of 5.1%. The business is scheduled to issue its next quarterly earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Cars.com will report full-year sales of $665.23 million for the current year, with estimates ranging from $663.20 million to $668.96 million. For the next year, analysts forecast that the firm will post sales of $704.72 million per share, with estimates ranging from $687.18 million to $727.70 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Cars.com.
Cars.com (NYSE:CARS) last issued its quarterly earnings results on Wednesday, August 8th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.39). The company had revenue of $168.50 million during the quarter, compared to analyst estimates of $171.75 million. Cars.com had a net margin of 28.90% and a return on equity of 7.78%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 EPS.
CARS has been the subject of a number of research reports. Barrington Research reissued a “buy” rating on shares of Cars.com in a report on Monday, May 14th. DA Davidson set a $34.00 price target on shares of Cars.com and gave the company a “buy” rating in a report on Wednesday, May 30th. ValuEngine lowered shares of Cars.com from a “hold” rating to a “sell” rating in a report on Tuesday, June 5th. Zacks Investment Research cut shares of Cars.com from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 5th. Finally, Benchmark reaffirmed a “hold” rating on shares of Cars.com in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $37.13.
Hedge funds have recently made changes to their positions in the business. Pelorus Jack Capital L.P. bought a new position in Cars.com in the first quarter valued at approximately $6,134,000. Citigroup Inc. boosted its stake in Cars.com by 262.0% in the first quarter. Citigroup Inc. now owns 106,971 shares of the company’s stock valued at $3,030,000 after acquiring an additional 77,421 shares during the last quarter. Fiduciary Management Inc. WI boosted its stake in Cars.com by 19.3% in the first quarter. Fiduciary Management Inc. WI now owns 1,905,423 shares of the company’s stock valued at $53,981,000 after acquiring an additional 307,643 shares during the last quarter. AMG Funds LLC boosted its stake in Cars.com by 9.3% in the second quarter. AMG Funds LLC now owns 57,179 shares of the company’s stock valued at $1,623,000 after acquiring an additional 4,846 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in Cars.com by 256.8% in the first quarter. Natixis Advisors L.P. now owns 43,386 shares of the company’s stock valued at $1,229,000 after acquiring an additional 31,226 shares during the last quarter.
Shares of Cars.com stock traded up $0.20 during midday trading on Friday, reaching $26.15. The company had a trading volume of 566,100 shares, compared to its average volume of 1,125,934. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market cap of $1.82 billion, a P/E ratio of 11.45, a P/E/G ratio of 2.62 and a beta of -0.17. Cars.com has a 1-year low of $20.94 and a 1-year high of $32.94.
Cars.com Company Profile
Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.
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