Analysts Expect TrueCar, Inc. (TRUE) Will Post Earnings of $0.01 Per Share

Analysts expect TrueCar, Inc. (NASDAQ:TRUE) to post $0.01 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for TrueCar’s earnings, with estimates ranging from $0.00 to $0.04. TrueCar reported earnings per share of ($0.01) during the same quarter last year, which would indicate a positive year-over-year growth rate of 200%. The company is scheduled to announce its next quarterly earnings results on Thursday, February 15th.

On average, analysts expect that TrueCar will report full year earnings of $0.02 per share for the current fiscal year, with EPS estimates ranging from ($0.02) to $0.06. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.17 per share, with EPS estimates ranging from $0.06 to $0.24. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for TrueCar.

TRUE has been the topic of a number of research analyst reports. B. Riley reissued a “buy” rating and issued a $21.00 price target on shares of TrueCar in a report on Saturday, August 26th. Goldman Sachs Group reissued a “neutral” rating and set a $17.00 price target on shares of TrueCar in a research report on Wednesday, October 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $23.00 price target (up previously from $22.00) on shares of TrueCar in a research report on Thursday, August 10th. Zacks Investment Research raised TrueCar from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Cowen reissued a “hold” rating and set a $15.00 price target on shares of TrueCar in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. TrueCar has a consensus rating of “Hold” and an average target price of $17.44.

In other TrueCar news, EVP Neeraj Gunsagar sold 10,442 shares of TrueCar stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $16.56, for a total transaction of $172,919.52. Following the completion of the sale, the executive vice president now directly owns 283,508 shares in the company, valued at $4,694,892.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian Skutta sold 61,942 shares of TrueCar stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $17.01, for a total transaction of $1,053,633.42. Following the sale, the executive vice president now owns 181,282 shares of the company’s stock, valued at $3,083,606.82. The disclosure for this sale can be found here. Insiders sold 199,369 shares of company stock worth $3,377,066 over the last ninety days. Corporate insiders own 15.50% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Caledonia Private Investments Pty Ltd lifted its stake in shares of TrueCar by 158.6% in the second quarter. Caledonia Private Investments Pty Ltd now owns 11,972,257 shares of the technology company’s stock valued at $238,607,000 after buying an additional 7,342,518 shares in the last quarter. Steadfast Capital Management LP bought a new position in shares of TrueCar in the second quarter valued at approximately $56,303,000. Ontario Teachers Pension Plan Board purchased a new position in TrueCar during the 2nd quarter valued at $49,825,000. Wasatch Advisors Inc. lifted its position in TrueCar by 812.5% in the third quarter. Wasatch Advisors Inc. now owns 2,405,517 shares of the technology company’s stock worth $37,983,000 after buying an additional 2,141,897 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in TrueCar by 43.9% in the second quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock worth $131,037,000 after buying an additional 2,004,642 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

TrueCar (NASDAQ:TRUE) opened at $12.19 on Friday. TrueCar has a 12 month low of $10.16 and a 12 month high of $21.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.31 and a current ratio of 6.31.

TRADEMARK VIOLATION NOTICE: “Analysts Expect TrueCar, Inc. (TRUE) Will Post Earnings of $0.01 Per Share” was reported by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at https://www.americanbankingnews.com/2017/12/01/analysts-expect-truecar-inc-true-will-post-earnings-of-0-01-per-share.html.

About TrueCar

TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.

Get a free copy of the Zacks research report on TrueCar (TRUE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for TrueCar (NASDAQ:TRUE)

Receive News & Ratings for TrueCar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply