William Blair Comments on CoStar Group, Inc.’s FY2017 Earnings (CSGP)
CoStar Group, Inc. (NASDAQ:CSGP) – William Blair dropped their FY2017 earnings per share (EPS) estimates for CoStar Group in a research report issued to clients and investors on Wednesday. William Blair analyst B. Dobell now expects that the technology company will post earnings per share of $3.57 for the year, down from their previous estimate of $3.65. William Blair also issued estimates for CoStar Group’s Q4 2017 earnings at $1.12 EPS, Q1 2018 earnings at $0.90 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $1.10 EPS, Q4 2018 earnings at $1.62 EPS and FY2018 earnings at $4.41 EPS.
A number of other equities research analysts also recently weighed in on CSGP. B. Riley reissued a “buy” rating and set a $325.00 target price on shares of CoStar Group in a research report on Friday, July 14th. Zacks Investment Research downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Needham & Company LLC lifted their target price on CoStar Group from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. BidaskClub raised CoStar Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Finally, Bank of America Corporation reissued a “buy” rating and set a $306.00 target price on shares of CoStar Group in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $312.57.
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CoStar Group (NASDAQ CSGP) opened at 274.39 on Friday. CoStar Group has a one year low of $179.22 and a one year high of $287.96. The company has a 50-day moving average price of $278.56 and a 200-day moving average price of $256.90. The stock has a market cap of $9.01 billion, a P/E ratio of 92.11 and a beta of 1.51.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.23. The firm had revenue of $237.20 million during the quarter, compared to the consensus estimate of $234.38 million. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. CoStar Group’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share.
In other CoStar Group news, VP Matthew Linnington sold 1,767 shares of CoStar Group stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $273.15, for a total transaction of $482,656.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.98% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Toronto Dominion Bank boosted 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 in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $134,000. LS Investment Advisors LLC boosted 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $188,000. Finally, Capstone Asset Management Co. acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $211,000. 99.84% of the stock is currently owned by institutional investors.
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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