Brokerages Expect Copart, Inc. (CPRT) Will Post Quarterly Sales of $355.48 Million
Equities analysts expect that Copart, Inc. (NASDAQ:CPRT) will post sales of $355.48 million for the current quarter, according to Zacks. Four analysts have issued estimates for Copart’s earnings, with the highest sales estimate coming in at $364.25 million and the lowest estimate coming in at $350.77 million. Copart posted sales of $332.66 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.9%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, September 19th.
On average, analysts expect that Copart will report full year sales of $355.48 million for the current year, with estimates ranging from $1.42 billion to $1.45 billion. For the next year, analysts anticipate that the business will post sales of $1.55 billion per share, with estimates ranging from $1.51 billion to $1.64 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Copart.
Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, May 24th. The business services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Copart had a net margin of 29.10% and a return on equity of 33.20%. The business had revenue of $373.90 million during the quarter, compared to the consensus estimate of $386.61 million. During the same quarter last year, the company earned $0.64 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year.
A number of research analysts have recently commented on the company. Jefferies Group LLC reiterated a “hold” rating and set a $30.00 price target on shares of Copart in a report on Tuesday, April 18th. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $48.80.
Several hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank boosted 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 worth $148,000 after buying an additional 1,490 shares in the last quarter. Winslow Evans & Crocker Inc. purchased a new stake in Copart during the second quarter worth about $100,000. Cookson Peirce & Co. Inc. purchased a new stake in Copart during the first quarter worth about $200,000. Sapphire Star Partners LP purchased a new stake in Copart during the first quarter worth about $207,000. Finally, Suntrust Banks Inc. purchased a new stake in Copart during the first quarter worth about $207,000. Institutional investors and hedge funds own 49.65% of the company’s stock.
Shares of Copart (NASDAQ:CPRT) opened at 32.075 on Wednesday. The firm has a market cap of $7.39 billion, a P/E ratio of 18.508 and a beta of 1.22. The stock’s 50 day moving average is $31.38 and its 200-day moving average is $41.36. Copart has a 52-week low of $24.71 and a 52-week high of $32.17.
Copart Company Profile
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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