Brokerages predict that Chegg, Inc. (NYSE:CHGG) will post $0.13 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Chegg’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.14. Chegg posted earnings of $0.10 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 30%. The company is scheduled to issue its next quarterly earnings report on Monday, February 12th.

According to Zacks, analysts expect that Chegg will report full-year earnings of $0.26 per share for the current fiscal year, with EPS estimates ranging from $0.24 to $0.27. For the next fiscal year, analysts forecast that the company will post earnings of $0.45 per share, with EPS estimates ranging from $0.44 to $0.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Chegg.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, October 30th. The technology company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $62.60 million for the quarter, compared to the consensus estimate of $57.75 million. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. Chegg’s revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) earnings per share.

A number of brokerages have issued reports on CHGG. Zacks Investment Research downgraded shares of Chegg from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. BidaskClub raised shares of Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Citigroup started coverage on shares of Chegg in a report on Monday, November 20th. They issued a “buy” rating and a $19.00 target price for the company. Northland Securities reiterated a “buy” rating and issued a $18.00 price objective on shares of Chegg in a report on Wednesday, November 1st. Finally, First Analysis downgraded shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 target price for the company. in a research report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $15.42.

In related news, CEO Daniel Rosensweig sold 200,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $14.03, for a total value of $2,806,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles Geiger sold 50,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $14.53, for a total value of $726,500.00. Following the completion of the transaction, the insider now owns 561,500 shares of the company’s stock, valued at $8,158,595. The disclosure for this sale can be found here. In the last three months, insiders sold 645,154 shares of company stock valued at $9,466,299. Insiders own 20.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. purchased a new stake in Chegg in the 2nd quarter valued at approximately $104,000. Great West Life Assurance Co. Can lifted its position in shares of Chegg by 106.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 7,359 shares of the technology company’s stock valued at $108,000 after acquiring an additional 3,790 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Chegg by 1,829.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,051 shares of the technology company’s stock valued at $111,000 after acquiring an additional 8,582 shares during the period. Stifel Financial Corp acquired a new stake in shares of Chegg during the 2nd quarter valued at approximately $116,000. Finally, Bank of America Corp DE lifted its position in shares of Chegg by 29.0% during the 1st quarter. Bank of America Corp DE now owns 14,267 shares of the technology company’s stock valued at $120,000 after acquiring an additional 3,205 shares during the period.

Shares of Chegg (CHGG) traded up $0.13 during trading on Thursday, reaching $14.61. 453,900 shares of the company’s stock were exchanged, compared to its average volume of 990,011. Chegg has a 12-month low of $6.84 and a 12-month high of $16.50.

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About Chegg

Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.

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