Zacks: Analysts Expect Copart, Inc. (CPRT) to Post $0.31 Earnings Per Share
Wall Street brokerages forecast that Copart, Inc. (NASDAQ:CPRT) will report $0.31 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Copart’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.29. Copart posted earnings per share of $0.29 in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.9%. The firm is expected to issue its next earnings report on Tuesday, September 19th.
On average, analysts expect that Copart will report full-year earnings of $1.26 per share for the current year, with EPS estimates ranging from $1.22 to $1.30. For the next financial year, analysts forecast that the firm will post earnings of $1.42 per share, with EPS estimates ranging from $1.33 to $1.55. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Copart.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, May 24th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Copart had a net margin of 29.10% and a return on equity of 33.20%. The company had revenue of $373.90 million during the quarter, compared to analyst estimates of $386.61 million. During the same period last year, the business earned $0.64 EPS. Copart’s quarterly revenue was up 7.7% compared to the same quarter last year.
A number of equities research analysts recently commented on CPRT shares. Zacks Investment Research lowered Copart from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC upped their target price on Copart from $30.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, May 30th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $48.80.
A number of large investors have recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. bought a new stake in Copart during the second quarter valued at approximately $100,000. Parallel Advisors LLC raised its stake in Copart by 115.6% in the first quarter. Parallel Advisors LLC now owns 4,340 shares of the business services provider’s stock valued at $131,000 after buying an additional 2,327 shares in the last quarter. Huntington National Bank raised its stake in Copart by 167.2% in the first quarter. Huntington National Bank now owns 2,381 shares of the business services provider’s stock valued at $148,000 after buying an additional 1,490 shares in the last quarter. Cookson Peirce & Co. Inc. bought a new stake in Copart during the first quarter valued at approximately $200,000. Finally, CAPROCK Group Inc. bought a new stake in Copart during the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 40.28% of the company’s stock.
Shares of Copart (CPRT) traded up 0.50% during mid-day trading on Thursday, reaching $31.88. 625,632 shares of the company traded hands. The stock has a market capitalization of $7.34 billion, a PE ratio of 18.40 and a beta of 1.22. Copart has a 52 week low of $24.71 and a 52 week high of $32.17. The firm has a 50 day moving average of $31.35 and a 200-day moving average of $43.95.
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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