Brokerages Expect Carvana Co (CVNA) to Post -$0.30 EPS
Brokerages expect that Carvana Co (NASDAQ:CVNA) will report ($0.30) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Carvana’s earnings, with the lowest EPS estimate coming in at ($0.31) and the highest estimate coming in at ($0.29). The firm is scheduled to announce its next quarterly earnings report on Tuesday, September 5th.
Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Carvana.
Carvana (NASDAQ:CVNA) last announced its quarterly earnings data on Tuesday, June 6th. The company reported ($0.28) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.28). The company had revenue of $159.07 million for the quarter, compared to analyst estimates of $157.69 million. The firm’s quarterly revenue was up 118.1% compared to the same quarter last year.
Several analysts have weighed in on the stock. Bank of America Corporation assumed coverage on shares of Carvana in a research note on Tuesday, May 23rd. They issued a “buy” rating and a $25.00 price objective for the company. William Blair assumed coverage on shares of Carvana in a research note on Tuesday, May 23rd. They issued an “outperform” rating for the company. Craig Hallum assumed coverage on shares of Carvana in a research note on Monday, May 22nd. They issued a “buy” rating and a $16.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Carvana in a research note on Tuesday, May 23rd. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on shares of Carvana in a research note on Tuesday, May 23rd. They issued an “outperform” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $17.33.
Shares of Carvana (CVNA) traded up 4.09% on Monday, hitting $20.10. 649,598 shares of the stock were exchanged. The company has a 50-day moving average price of $11.65 and a 200-day moving average price of $11.65. The firm’s market capitalization is $302.16 million. Carvana has a one year low of $8.14 and a one year high of $20.43.
In related news, major shareholder Ernest C. Garcia II acquired 164,517 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was acquired at an average cost of $8.20 per share, for a total transaction of $1,349,039.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ira J. Platt acquired 2,000 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were bought at an average price of $12.60 per share, with a total value of $25,200.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $25,200. The disclosure for this purchase can be found here. Insiders bought a total of 1,856,031 shares of company stock valued at $24,474,213 over the last 90 days.
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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