$268.61 Million in Sales Expected for Carvana Co (CVNA) This Quarter

Equities analysts predict that Carvana Co (NYSE:CVNA) will post sales of $268.61 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Carvana’s earnings. The highest sales estimate is $284.59 million and the lowest is $257.44 million. The firm is scheduled to announce its next earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that Carvana will report full year sales of $268.61 million for the current year, with estimates ranging from $851.26 million to $878.41 million. For the next year, analysts anticipate that the company will post sales of $2.14 billion per share, with estimates ranging from $2.03 billion to $2.20 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Carvana.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.01. Carvana had a negative net margin of 11.81% and a negative return on equity of 153.67%. The business had revenue of $225.40 million during the quarter, compared to analyst estimates of $243.61 million.

CVNA has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $17.00 price objective on shares of Carvana in a report on Monday, November 20th. Zacks Investment Research raised shares of Carvana from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Monday, October 16th. Deutsche Bank lowered shares of Carvana from a “buy” rating to a “hold” rating and increased their price objective for the company from $22.00 to $23.50 in a report on Friday, December 8th. Barrington Research initiated coverage on shares of Carvana in a report on Friday, October 27th. They set a “market perform” rating for the company. Finally, Wedbush reaffirmed a “neutral” rating and set a $14.00 price objective (down from $20.00) on shares of Carvana in a report on Wednesday, November 8th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.88.

Shares of Carvana (NYSE CVNA) opened at $20.38 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.50 and a quick ratio of 0.71. Carvana has a fifty-two week low of $8.14 and a fifty-two week high of $24.89.

In related news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $22.65, for a total value of $24,951,783.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 21.69% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada purchased a new position in Carvana during the second quarter worth $15,354,000. Schwab Charles Investment Management Inc. purchased a new position in Carvana during the second quarter worth $508,000. B. Riley Financial Inc. purchased a new position in Carvana during the second quarter worth $1,100,000. FMR LLC purchased a new position in Carvana during the second quarter worth $26,992,000. Finally, Rhumbline Advisers purchased a new position in Carvana during the second quarter worth $392,000. 15.18% of the stock is owned by institutional investors.

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About Carvana

Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.

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