$1.15 EPS Expected for CoStar Group, Inc. (CSGP) This Quarter
Brokerages expect CoStar Group, Inc. (NASDAQ:CSGP) to report earnings of $1.15 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for CoStar Group’s earnings, with estimates ranging from $1.11 to $1.19. CoStar Group reported earnings per share of $1.11 during the same quarter last year, which would indicate a positive year over year growth rate of 3.6%. The firm is expected to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that CoStar Group will report full year earnings of $4.47 per share for the current fiscal year, with EPS estimates ranging from $4.38 to $4.52. For the next fiscal year, analysts anticipate that the business will report earnings of $6.22 per share, with EPS estimates ranging from $5.62 to $6.57. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for CoStar Group.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.23. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The company had revenue of $237.20 million for the quarter, compared to the consensus estimate of $234.38 million. During the same quarter last year, the business posted $0.91 EPS. CoStar Group’s revenue for the quarter was up 14.6% on a year-over-year basis.
A number of research firms have recently weighed in on CSGP. Needham & Company LLC increased their target price on shares of CoStar Group from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub upgraded shares of CoStar Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “strong-buy” rating and set a $317.00 target price for the company in a report on Tuesday, August 1st. Citigroup Inc. set a $320.00 target price on shares of CoStar Group and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, B. Riley reiterated a “buy” rating and set a $335.00 target price on shares of CoStar Group in a report on Friday, July 28th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $313.67.
In other CoStar Group news, Director Michael R. Klein sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $265.01, for a total value of $5,300,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew Linnington sold 1,767 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $273.15, for a total transaction of $482,656.05. The disclosure for this sale can be found here. Company insiders own 2.98% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of CoStar Group by 12.3% in the second quarter. Toronto Dominion Bank now owns 401 shares of the technology company’s stock valued at $106,000 after buying an additional 44 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of CoStar Group during the first quarter valued at approximately $124,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of CoStar Group during the second quarter valued at approximately $134,000. Penserra Capital Management LLC raised its stake in shares of CoStar Group by 9.5% in the first quarter. Penserra Capital Management LLC now owns 736 shares of the technology company’s stock valued at $152,000 after buying an additional 64 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of CoStar Group by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 900 shares of the technology company’s stock valued at $186,000 after buying an additional 750 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.
Shares of CoStar Group (NASDAQ CSGP) opened at 278.96 on Friday. CoStar Group has a 12-month low of $179.22 and a 12-month high of $286.00. The firm has a market cap of $9.16 billion, a P/E ratio of 93.64 and a beta of 1.51. The company’s 50 day moving average price is $275.67 and its 200 day moving average price is $239.64.
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CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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