Wall Street analysts predict that Carvana Co (NYSE:CVNA) will post ($0.37) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Carvana’s earnings. The lowest EPS estimate is ($0.46) and the highest is ($0.31). Carvana posted earnings per share of ($0.40) in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The business is scheduled to issue its next earnings results on Wednesday, November 6th.
Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Carvana.
Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). Carvana had a negative return on equity of 30.55% and a negative net margin of 3.49%. The company had revenue of $986.22 million for the quarter, compared to analysts’ expectations of $914.50 million. During the same period in the prior year, the firm posted ($0.37) EPS. The firm’s quarterly revenue was up 107.5% on a year-over-year basis.
Several brokerages have recently commented on CVNA. Morgan Stanley reissued an “underweight” rating and set a $30.00 price target (up previously from $22.00) on shares of Carvana in a research note on Thursday, August 8th. Zacks Investment Research downgraded Carvana from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Cowen reaffirmed an “outperform” rating and set a $85.00 price objective (up from $81.00) on shares of Carvana in a report on Thursday, August 8th. ValuEngine downgraded Carvana from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Bank of America reissued a “buy” rating and issued a $86.00 target price (up previously from $82.00) on shares of Carvana in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Carvana has a consensus rating of “Hold” and an average price target of $73.64.
Shares of CVNA stock traded down $5.49 during midday trading on Thursday, reaching $77.51. 2,648,363 shares of the company traded hands, compared to its average volume of 1,719,163. The firm’s 50 day simple moving average is $74.70 and its two-hundred day simple moving average is $64.26. Carvana has a 1-year low of $28.44 and a 1-year high of $85.07. The company has a debt-to-equity ratio of 2.10, a current ratio of 3.83 and a quick ratio of 1.40. The firm has a market cap of $12.64 billion, a PE ratio of -44.80 and a beta of 2.22.
In related news, CFO Mark W. Jenkins sold 40,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $80.06, for a total transaction of $3,202,400.00. Following the sale, the chief financial officer now owns 52,049 shares of the company’s stock, valued at $4,167,042.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel J. Gill sold 12,500 shares of Carvana stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $67.65, for a total value of $845,625.00. Following the sale, the insider now owns 10,683 shares of the company’s stock, valued at approximately $722,704.95. The disclosure for this sale can be found here. Insiders have sold a total of 189,861 shares of company stock valued at $14,527,351 over the last 90 days. Insiders own 13.02% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Keybank National Association OH raised its position in shares of Carvana by 1.5% in the first quarter. Keybank National Association OH now owns 9,759 shares of the company’s stock valued at $567,000 after buying an additional 141 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Carvana by 2.6% during the 2nd quarter. D.A. Davidson & CO. now owns 5,700 shares of the company’s stock worth $357,000 after purchasing an additional 145 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Carvana by 2.4% during the 2nd quarter. Natixis Advisors L.P. now owns 12,304 shares of the company’s stock worth $770,000 after purchasing an additional 293 shares during the period. Resources Investment Advisors LLC. boosted its holdings in shares of Carvana by 150.0% during the second quarter. Resources Investment Advisors LLC. now owns 500 shares of the company’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Carvana by 12.9% during the second quarter. Commonwealth Equity Services LLC now owns 4,242 shares of the company’s stock worth $265,000 after purchasing an additional 486 shares during the last quarter. Institutional investors own 37.05% of the company’s stock.
Carvana Company Profile
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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