Chegg Inc Forecasted to Earn Q1 2018 Earnings of $0.01 Per Share (CHGG)

Chegg Inc (NYSE:CHGG) – Investment analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for Chegg in a research note issued to investors on Tuesday. Jefferies Group analyst B. Thill forecasts that the technology company will post earnings of $0.01 per share for the quarter. Jefferies Group also issued estimates for Chegg’s Q2 2018 earnings at $0.03 EPS, Q3 2018 earnings at ($0.04) EPS and Q4 2018 earnings at $0.11 EPS.

Chegg (NYSE:CHGG) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Chegg had a negative return on equity of 2.64% and a negative net margin of 7.95%. The business had revenue of $73.51 million for the quarter, compared to analysts’ expectations of $70.61 million. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis.

A number of other equities research analysts have also recently weighed in on the company. Barrington Research restated an “outperform” rating and issued a $22.00 price target (up previously from $19.00) on shares of Chegg in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on Chegg from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday. Lake Street Capital upped their price objective on Chegg from $15.00 to $16.00 and gave the company a “hold” rating in a report on Tuesday. BMO Capital Markets reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Chegg in a report on Wednesday, January 17th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Chegg in a report on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.09.

Shares of Chegg (NYSE CHGG) opened at $18.99 on Thursday. Chegg has a 12 month low of $7.81 and a 12 month high of $19.96. The firm has a market capitalization of $2,100.14, a price-to-earnings ratio of -90.42, a P/E/G ratio of 7.51 and a beta of 1.74.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Castleark Management LLC grew its holdings in shares of Chegg by 10.6% during the 4th quarter. Castleark Management LLC now owns 1,111,164 shares of the technology company’s stock worth $18,134,000 after purchasing an additional 106,305 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Chegg by 55.8% during the 4th quarter. Macquarie Group Ltd. now owns 232,556 shares of the technology company’s stock worth $3,795,000 after purchasing an additional 83,256 shares in the last quarter. Greenhouse Funds LLLP grew its holdings in shares of Chegg by 12.8% during the 4th quarter. Greenhouse Funds LLLP now owns 2,099,758 shares of the technology company’s stock worth $34,268,000 after purchasing an additional 238,814 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Chegg during the 4th quarter worth $388,000. Finally, Teachers Advisors LLC grew its holdings in shares of Chegg by 10.1% during the 4th quarter. Teachers Advisors LLC now owns 172,428 shares of the technology company’s stock worth $2,814,000 after purchasing an additional 15,876 shares in the last quarter.

In other news, insider Esther Lem sold 10,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $17.50, for a total transaction of $175,000.00. Following the sale, the insider now directly owns 455,120 shares of the company’s stock, valued at approximately $7,964,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel Rosensweig sold 199,611 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $16.00, for a total value of $3,193,776.00. Following the sale, the chief executive officer now directly owns 2,207,689 shares in the company, valued at $35,323,024. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 869,323 shares of company stock worth $14,302,385. Insiders own 20.40% of the company’s stock.

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Chegg Company Profile

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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