CoStar Group, Inc. Forecasted to Post Q3 2017 Earnings of $0.96 Per Share (CSGP)

CoStar Group, Inc. (NASDAQ:CSGP) – SunTrust Banks decreased their Q3 2017 earnings per share (EPS) estimates for shares of CoStar Group in a research report issued to clients and investors on Thursday. SunTrust Banks analyst A. Jeffrey now anticipates that the technology company will earn $0.96 per share for the quarter, down from their prior forecast of $1.00. SunTrust Banks has a “Buy” rating and a $310.00 price objective on the stock. SunTrust Banks also issued estimates for CoStar Group’s Q4 2017 earnings at $1.26 EPS and FY2018 earnings at $5.77 EPS.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.23. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The company had revenue of $237.20 million for the quarter, compared to analyst estimates of $234.38 million. During the same period in the previous year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. TRADEMARK VIOLATION WARNING: “CoStar Group, Inc. Forecasted to Post Q3 2017 Earnings of $0.96 Per Share (CSGP)” was reported by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.com-unik.info/2017/08/19/costar-group-inc-forecasted-to-post-q3-2017-earnings-of-0-96-per-share-csgp-updated-updated.html.

A number of other equities analysts also recently issued reports on the company. B. Riley restated a “buy” rating and issued a $335.00 price target on shares of CoStar Group in a research note on Friday. Citigroup Inc. set a $320.00 price target on CoStar Group and gave the stock a “buy” rating in a research note on Friday. Needham & Company LLC raised their price target on CoStar Group from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday. BidaskClub downgraded CoStar Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, Zacks Investment Research downgraded CoStar Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $303.67.

Shares of CoStar Group (NASDAQ:CSGP) opened at 275.55 on Monday. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 92.50 and a beta of 1.51. The company’s 50 day moving average price is $267.48 and its 200-day moving average price is $232.54. CoStar Group has a 1-year low of $179.21 and a 1-year high of $284.47.

A number of institutional investors have recently added to or reduced their stakes in CSGP. Livforsakringsbolaget Skandia Omsesidigt bought a new position in CoStar Group during the first quarter valued at $124,000. Penserra Capital Management LLC increased its position in CoStar Group by 9.5% in the first quarter. Penserra Capital Management LLC now owns 736 shares of the technology company’s stock valued at $152,000 after buying an additional 64 shares during the period. Daiwa Securities Group Inc. increased its position in CoStar Group by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 900 shares of the technology company’s stock valued at $186,000 after buying an additional 750 shares during the period. LS Investment Advisors LLC increased its position in CoStar Group by 3.5% in the second quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock valued at $186,000 after buying an additional 24 shares during the period. Finally, Capstone Asset Management Co. bought a new position in CoStar Group during the second quarter valued at $211,000.

In related news, CEO Andrew C. Florance sold 21,768 shares of CoStar Group stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $244.19, for a total transaction of $5,315,527.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael R. Klein sold 20,000 shares of CoStar Group stock in a transaction on Monday, June 26th. The shares were sold at an average price of $265.01, for a total value of $5,300,200.00. The disclosure for this sale can be found here. Insiders have sold 85,304 shares of company stock worth $21,258,538 over the last quarter. 2.98% of the stock is owned by company insiders.

CoStar Group Company Profile

CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.

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