Brokerages Anticipate Carvana Co (CVNA) Will Post Quarterly Sales of $268.61 Million

Analysts forecast that Carvana Co (NYSE:CVNA) will post $268.61 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Carvana’s earnings, with the highest sales estimate coming in at $284.59 million and the lowest estimate coming in at $257.44 million. The company is scheduled to report its next earnings results after the market closes on Tuesday, March 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 expect that the company will report 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 a mean average based on a survey of research analysts that follow Carvana.

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

Several equities research analysts have recently issued reports on CVNA shares. Zacks Investment Research upgraded shares of Carvana from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Monday, October 16th. Barrington Research started coverage on shares of Carvana in a research note on Friday, October 27th. They issued a “market perform” rating on the stock. BMO Capital Markets lowered their price objective on shares of Carvana from $25.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 8th. Wedbush restated a “neutral” rating and issued a $14.00 price objective (down previously from $20.00) on shares of Carvana in a research note on Wednesday, November 8th. Finally, Robert W. Baird lowered their price objective on shares of Carvana from $22.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $19.88.

In other Carvana news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of Carvana stock in a transaction on Friday, December 15th. The shares were sold at an average price of $22.65, for a total transaction of $24,951,783.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 21.69% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gator Capital Management LLC acquired a new stake in Carvana during the fourth quarter worth $493,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in Carvana during the fourth quarter worth $7,000,000. Aperimus Capital LLC acquired a new stake in Carvana during the fourth quarter worth $1,602,000. Schwab Charles Investment Management Inc. boosted its stake in Carvana by 17.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 29,247 shares of the company’s stock worth $560,000 after buying an additional 4,447 shares in the last quarter. Finally, 683 Capital Management LLC acquired a new stake in Carvana during the third quarter worth $2,936,000. Hedge funds and other institutional investors own 15.18% of the company’s stock.

Shares of Carvana (CVNA) opened at $18.30 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.50. Carvana has a 52 week low of $8.14 and a 52 week high of $24.89.

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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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