TrueCar Inc (TRUE) Expected to Announce Earnings of $0.04 Per Share

Brokerages expect TrueCar Inc (NASDAQ:TRUE) to post $0.04 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for TrueCar’s earnings, with the highest EPS estimate coming in at $0.06 and the lowest estimate coming in at $0.04. TrueCar reported earnings per share of $0.05 during the same quarter last year, which would suggest a negative year over year growth rate of 20%. The business is expected to announce its next quarterly earnings results on Thursday, February 21st.

On average, analysts expect that TrueCar will report full-year earnings of $0.13 per share for the current year, with EPS estimates ranging from $0.12 to $0.13. For the next fiscal year, analysts forecast that the firm will post earnings of $0.22 per share, with EPS estimates ranging from $0.12 to $0.29. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow TrueCar.

TrueCar (NASDAQ:TRUE) last announced its earnings results on Tuesday, November 6th. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). TrueCar had a negative net margin of 8.80% and a negative return on equity of 7.56%. The business had revenue of $93.59 million for the quarter, compared to the consensus estimate of $93.89 million. During the same quarter in the previous year, the company earned $0.02 EPS. TrueCar’s revenue for the quarter was up 13.5% compared to the same quarter last year.

Several brokerages recently weighed in on TRUE. Citigroup began coverage on TrueCar in a research note on Friday. They set a “neutral” rating and a $11.50 target price for the company. BTIG Research began coverage on TrueCar in a research report on Tuesday, November 13th. They issued a “buy” rating and a $13.00 price objective for the company. Benchmark reduced their price objective on TrueCar from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, November 7th. B. Riley reduced their price objective on TrueCar from $18.00 to $16.50 and set a “buy” rating for the company in a research report on Wednesday, November 7th. Finally, Zacks Investment Research downgraded TrueCar from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $14.00.

NASDAQ:TRUE traded down $0.50 during mid-day trading on Friday, hitting $9.74. 700,434 shares of the company’s stock traded hands, compared to its average volume of 510,762. TrueCar has a 12 month low of $8.75 and a 12 month high of $14.55. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -36.07 and a beta of 2.59. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.07.

In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $13.51, for a total value of $103,608.19. Following the completion of the sale, the executive vice president now owns 128,791 shares in the company, valued at approximately $1,739,966.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 9,168 shares of company stock valued at $121,704 in the last quarter. Corporate insiders own 5.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC lifted its position in shares of TrueCar by 19.1% in the 2nd quarter. Voya Investment Management LLC now owns 33,777 shares of the technology company’s stock worth $341,000 after acquiring an additional 5,412 shares during the period. NumerixS Investment Technologies Inc lifted its position in shares of TrueCar by 30.8% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 31,818 shares of the technology company’s stock worth $321,000 after buying an additional 7,500 shares during the period. Fox Run Management L.L.C. bought a new position in shares of TrueCar during the 3rd quarter worth approximately $266,000. 683 Capital Management LLC lifted its position in shares of TrueCar by 3.7% during the 2nd quarter. 683 Capital Management LLC now owns 3,383,358 shares of the technology company’s stock worth $34,138,000 after buying an additional 120,000 shares during the period. Finally, Cowen Prime Services LLC lifted its position in shares of TrueCar by 66.0% during the 3rd quarter. Cowen Prime Services LLC now owns 228,706 shares of the technology company’s stock worth $3,225,000 after buying an additional 90,906 shares during the period. Institutional investors own 96.24% of the company’s stock.

TrueCar Company Profile

TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.

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Earnings History and Estimates for TrueCar (NASDAQ:TRUE)

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