CarGurus (NASDAQ:CARG) Updates FY 2020 After-Hours Earnings Guidance

CarGurus (NASDAQ:CARG) updated its FY 2020
After-Hours earnings guidance on Thursday. The company provided earnings per share guidance of 0.50-0.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.66. The company issued revenue guidance of $664-676 million, compared to the consensus revenue estimate of $707.74 million.CarGurus also updated its FY20 guidance to $0.50-0.55 EPS.

Several equities analysts have recently issued reports on the stock. Benchmark lowered their target price on shares of CarGurus from $51.00 to $42.00 and set a buy rating for the company in a report on Friday. Royal Bank of Canada lowered their target price on shares of CarGurus to $50.00 and set an outperform rating for the company in a report on Wednesday, November 6th. SunTrust Banks reiterated a buy rating and set a $55.00 target price (up from $54.00) on shares of CarGurus in a report on Monday, February 10th. Zacks Investment Research lowered shares of CarGurus from a hold rating to a sell rating in a report on Thursday. Finally, BTIG Research lowered shares of CarGurus from a buy rating to a neutral rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $47.90.

NASDAQ CARG traded down $9.05 during mid-day trading on Friday, reaching $25.05. The stock had a trading volume of 17,765,115 shares, compared to its average volume of 871,921. CarGurus has a 1 year low of $24.80 and a 1 year high of $45.25. The stock has a market cap of $3.82 billion, a PE ratio of 67.70, a price-to-earnings-growth ratio of 1.95 and a beta of 1.88. The company has a fifty day moving average price of $35.49 and a 200 day moving average price of $34.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.85 and a quick ratio of 2.85.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. CarGurus had a net margin of 7.16% and a return on equity of 18.28%. The company had revenue of $158.15 million during the quarter, compared to analyst estimates of $154.80 million. As a group, equities research analysts expect that CarGurus will post 0.44 earnings per share for the current year.

In related news, General Counsel Kathleen Bender Patton sold 3,899 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $39.61, for a total value of $154,439.39. Following the completion of the transaction, the general counsel now directly owns 104,190 shares in the company, valued at approximately $4,126,965.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Langley Steinert sold 36,016 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $39.13, for a total transaction of $1,409,306.08. Following the completion of the transaction, the chief executive officer now owns 2,620,208 shares of the company’s stock, valued at $102,528,739.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 725,517 shares of company stock valued at $27,319,028. 34.51% of the stock is owned by company insiders.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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