Equities Analysts Issue Forecasts for CoStar Group, Inc.’s FY2019 Earnings (CSGP)
CoStar Group, Inc. (NASDAQ:CSGP) – Equities researchers at B. Riley issued their FY2019 earnings estimates for shares of CoStar Group in a research report issued on Monday. B. Riley analyst M. Crawford forecasts that the technology company will earn $7.07 per share for the year. B. Riley currently has a “Buy” rating and a $335.00 target price on the stock.
Several other equities analysts have also recently commented on CSGP. Stephens reaffirmed an “overweight” rating and set a $275.00 price objective (up previously from $260.00) on shares of CoStar Group in a research note on Monday, June 19th. SunTrust Banks, Inc. boosted their price target on shares of CoStar Group from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 5th. BidaskClub cut shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Needham & Company LLC boosted their price target on shares of CoStar Group from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Citigroup Inc. set a $320.00 price target on shares of CoStar Group and gave the stock a “buy” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $312.57.
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CoStar Group (CSGP) traded up 0.50% during mid-day trading on Thursday, hitting $273.15. 119,065 shares of the company traded hands. The firm has a market capitalization of $8.96 billion, a P/E ratio of 91.69 and a beta of 1.51. CoStar Group has a one year low of $179.22 and a one year high of $287.96. The firm has a 50 day moving average of $278.82 and a 200 day moving average of $256.78.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.23. The business had revenue of $237.20 million for the quarter, compared to analyst estimates of $234.38 million. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS.
In other CoStar Group news, VP Matthew Linnington sold 1,767 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $273.15, for a total value of $482,656.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.98% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in shares of CoStar Group by 12.3% in the 2nd quarter. Toronto Dominion Bank now owns 401 shares of the technology company’s stock worth $106,000 after acquiring an additional 44 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of CoStar Group in the 2nd quarter worth approximately $134,000. LS Investment Advisors LLC lifted its holdings in shares of CoStar Group by 3.5% in the 2nd quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $186,000 after acquiring an additional 24 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of CoStar Group in the 2nd quarter worth approximately $188,000. Finally, Capstone Asset Management Co. bought a new stake in shares of CoStar Group in the 2nd quarter worth approximately $211,000. Hedge funds and other institutional investors own 99.84% of the company’s stock.
About CoStar Group
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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