Zacks: Analysts Anticipate Chegg Inc (CHGG) Will Post Earnings of $0.13 Per Share

Equities analysts predict that Chegg Inc (NYSE:CHGG) will post $0.13 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Chegg’s earnings, with the highest EPS estimate coming in at $0.14 and the lowest estimate coming in at $0.12. Chegg posted earnings per share of $0.10 in the same quarter last year, which suggests a positive year over year growth rate of 30%. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, February 12th.

On average, 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 year, analysts expect 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 sell-side analysts that cover Chegg.

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

CHGG has been the subject of a number of recent analyst reports. Citigroup initiated coverage on Chegg in a report on Monday, November 20th. They set a “buy” rating and a $19.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Chegg from $15.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Zacks Investment Research downgraded Chegg from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Northland Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Chegg in a report on Tuesday, January 9th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $19.00 price target (up from $17.00) on shares of Chegg in a report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.45.

Shares of Chegg (NYSE:CHGG) traded up $0.35 during midday trading on Friday, reaching $17.34. The company’s stock had a trading volume of 847,574 shares, compared to its average volume of 528,474. The stock has a market cap of $1,842.42, a P/E ratio of -66.69, a price-to-earnings-growth ratio of 6.66 and a beta of 1.79. Chegg has a 12 month low of $6.84 and a 12 month high of $17.35.

In related news, insider Michael A. Osier sold 48,750 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $17.08, for a total value of $832,650.00. Following the transaction, the insider now owns 630,652 shares in the company, valued at approximately $10,771,536.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Esther Lem sold 9,400 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $17.00, for a total value of $159,800.00. Following the completion of the transaction, the insider now owns 505,120 shares in the company, valued at approximately $8,587,040. The disclosure for this sale can be found here. Insiders sold a total of 934,251 shares of company stock valued at $14,335,277 over the last three months. Company insiders own 20.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TIAA CREF Investment Management LLC increased its position in Chegg by 6.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 226,381 shares of the technology company’s stock worth $2,782,000 after purchasing an additional 13,011 shares during the period. Swiss National Bank grew its holdings in shares of Chegg by 30.9% in the 3rd quarter. Swiss National Bank now owns 150,100 shares of the technology company’s stock worth $2,227,000 after acquiring an additional 35,400 shares during the period. Columbus Circle Investors acquired a new stake in shares of Chegg in the 3rd quarter worth approximately $14,234,000. Summit Creek Advisors LLC acquired a new stake in shares of Chegg in the 3rd quarter worth approximately $2,557,000. Finally, 1492 Capital Management LLC acquired a new stake in shares of Chegg in the 3rd quarter worth approximately $453,000.

COPYRIGHT VIOLATION NOTICE: “Zacks: Analysts Anticipate Chegg Inc (CHGG) Will Post Earnings of $0.13 Per Share” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/27/zacks-analysts-anticipate-chegg-inc-chgg-will-post-earnings-of-0-13-per-share.html.

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.

Get a free copy of the Zacks research report on Chegg (CHGG)

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

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

Leave a Reply