Brokerages expect that Carvana Co (NYSE:CVNA) will announce sales of $903.80 million for the current quarter, according to Zacks. Eight analysts have made estimates for Carvana’s earnings. The lowest sales estimate is $862.60 million and the highest is $949.30 million. Carvana reported sales of $475.29 million in the same quarter last year, which indicates a positive year over year growth rate of 90.2%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, August 7th.
According to Zacks, analysts expect that Carvana will report full-year sales of $3.61 billion for the current financial year, with estimates ranging from $3.54 billion to $3.70 billion. For the next year, analysts forecast that the business will report sales of $5.43 billion, with estimates ranging from $5.10 billion to $5.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Carvana.
Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.03). Carvana had a negative net margin of 3.54% and a negative return on equity of 30.85%. The business had revenue of $755.23 million for the quarter, compared to the consensus estimate of $696.61 million.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Barrington Research downgraded shares of Carvana from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 3rd. Cowen assumed coverage on shares of TrueCar in a research note on Monday, May 20th. They set a “hold” rating and a $7.00 price objective on the stock. Wells Fargo & Co reiterated a “buy” rating and set a $85.00 price objective on shares of Carvana in a research note on Monday, July 1st. Finally, Citigroup upgraded shares of Copa from a “neutral” rating to a “buy” rating in a research note on Thursday, May 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $67.92.
Shares of NYSE CVNA traded down $0.44 during midday trading on Tuesday, reaching $65.19. 34,217 shares of the company’s stock traded hands, compared to its average volume of 1,382,133. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.56 and a current ratio of 1.39. The stock’s 50 day moving average is $63.34. Carvana has a one year low of $28.44 and a one year high of $76.85. The stock has a market cap of $9.79 billion, a P/E ratio of -36.82 and a beta of 2.40.
In other Carvana news, major shareholder Ernest C. Garcia II sold 181,605 shares of Carvana stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $67.40, for a total value of $12,240,177.00. Following the completion of the transaction, the insider now owns 52,937,458 shares of the company’s stock, valued at $3,567,984,669.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 394,663 shares of Carvana stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $66.24, for a total transaction of $26,142,477.12. Following the completion of the transaction, the insider now directly owns 52,937,458 shares of the company’s stock, valued at approximately $3,506,577,217.92. The disclosure for this sale can be found here. Insiders sold 1,925,489 shares of company stock valued at $124,765,354 in the last ninety days. 13.02% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CVNA. FMR LLC boosted its position in Carvana by 749.8% during the fourth quarter. FMR LLC now owns 3,591,784 shares of the company’s stock worth $117,487,000 after acquiring an additional 3,169,132 shares during the last quarter. 683 Capital Management LLC boosted its holdings in Carvana by 19.1% in the 4th quarter. 683 Capital Management LLC now owns 1,860,000 shares of the company’s stock valued at $60,841,000 after purchasing an additional 298,366 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Carvana by 2.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,813,468 shares of the company’s stock valued at $105,290,000 after purchasing an additional 51,614 shares during the last quarter. ShawSpring Partners LLC boosted its holdings in Carvana by 26.0% in the 1st quarter. ShawSpring Partners LLC now owns 876,506 shares of the company’s stock valued at $50,890,000 after purchasing an additional 180,645 shares during the last quarter. Finally, WS Management Lllp boosted its holdings in Carvana by 3.5% in the 1st quarter. WS Management Lllp now owns 853,067 shares of the company’s stock valued at $49,529,000 after purchasing an additional 28,977 shares during the last quarter. Institutional investors and hedge funds own 35.90% of the company’s stock.
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. 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 from their desktop or mobile devices.
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