Analysts Anticipate Chegg, Inc. (CHGG) Will Post Earnings of -$0.09 Per Share
Equities research analysts expect Chegg, Inc. (NYSE:CHGG) to announce earnings per share of ($0.09) for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Chegg’s earnings. The highest EPS estimate is ($0.08) and the lowest is ($0.11). Chegg posted earnings of ($0.13) per share in the same quarter last year, which indicates a positive year over year growth rate of 30.8%. The firm is scheduled to report its next earnings results on Monday, November 6th.
On average, analysts expect that Chegg will report full year earnings of ($0.11) per share for the current year, with EPS estimates ranging from ($0.13) to ($0.09). For the next year, analysts anticipate that the business will report earnings of $0.12 per share, with EPS estimates ranging from ($0.03) to $0.18. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Chegg.
Chegg (NYSE:CHGG) last posted its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.08. Chegg had a negative return on equity of 8.10% and a negative net margin of 11.83%. The firm had revenue of $56.30 million during the quarter, compared to the consensus estimate of $53.33 million. During the same period in the prior year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis.
A number of research analysts have commented on CHGG shares. UBS AG upgraded Chegg from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 2nd. Raymond James Financial, Inc. upgraded Chegg from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Tuesday, May 2nd. Lake Street Capital restated a “buy” rating and issued a $12.00 price target (up from $9.00) on shares of Chegg in a research report on Tuesday, May 2nd. Jefferies Group LLC raised their price target on Chegg from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $12.00 price target (up from $10.00) on shares of Chegg in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $13.32.
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Shares of Chegg (CHGG) opened at 15.22 on Wednesday. Chegg has a 1-year low of $6.51 and a 1-year high of $15.95. The stock has a 50 day moving average price of $13.80 and a 200-day moving average price of $10.60. The company’s market cap is $1.46 billion.
In related news, insider Nathan J. Schultz sold 15,276 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $12.00, for a total transaction of $183,312.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Charles Geiger sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $11.66, for a total value of $291,500.00. Following the sale, the insider now directly owns 536,500 shares in the company, valued at approximately $6,255,590. The disclosure for this sale can be found here. Insiders have sold a total of 522,244 shares of company stock worth $6,828,478 in the last ninety days. 20.40% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. US Bancorp DE increased its stake in shares of Chegg by 4.3% in the first quarter. US Bancorp DE now owns 11,868 shares of the technology company’s stock valued at $100,000 after buying an additional 488 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Chegg during the second quarter valued at approximately $104,000. Parkwood LLC increased its stake in shares of Chegg by 26.0% in the first quarter. Parkwood LLC now owns 13,077 shares of the technology company’s stock valued at $110,000 after buying an additional 2,701 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Chegg during the fourth quarter valued at approximately $110,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Chegg by 1,829.9% in the second quarter. BNP Paribas Arbitrage SA now owns 9,051 shares of the technology company’s stock valued at $111,000 after buying an additional 8,582 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.
Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.
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