Equities research analysts expect that Carvana Co. (NYSE:CVNA – Get Rating) will announce $3.44 billion in sales for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Carvana’s earnings, with the highest sales estimate coming in at $3.86 billion and the lowest estimate coming in at $2.90 billion. Carvana posted sales of $2.25 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 52.9%. The company is scheduled to issue its next earnings results on Thursday, May 5th.
On average, analysts expect that Carvana will report full-year sales of $16.55 billion for the current year, with estimates ranging from $15.88 billion to $17.51 billion. For the next year, analysts anticipate that the business will post sales of $21.10 billion, with estimates ranging from $19.64 billion to $22.97 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Carvana.
Carvana (NYSE:CVNA – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.23). Carvana had a negative net margin of 1.05% and a negative return on equity of 19.82%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business earned ($0.41) EPS. The company’s revenue for the quarter was up 110.9% compared to the same quarter last year.
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A number of research analysts recently commented on the company. Royal Bank of Canada dropped their price target on Carvana from $275.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. Stephens dropped their price target on Carvana from $200.00 to $167.00 and set an “equal weight” rating for the company in a research note on Monday. DA Davidson dropped their price target on Carvana from $355.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday. Cowen dropped their price target on Carvana from $430.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. Finally, TheStreet cut Carvana from a “c-” rating to a “d+” rating in a research report on Thursday, January 13th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Carvana has a consensus rating of “Buy” and a consensus target price of $266.62.
In related news, insider Thomas Taira sold 155 shares of the company’s stock in a transaction on Friday, December 3rd. The stock was sold at an average price of $266.00, for a total transaction of $41,230.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 181 shares of company stock valued at $45,514 in the last quarter. 10.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. OLD Second National Bank of Aurora purchased a new position in shares of Carvana during the 3rd quarter valued at $30,000. Assetmark Inc. purchased a new position in shares of Carvana during the 3rd quarter valued at $30,000. Lloyd Advisory Services LLC. lifted its position in shares of Carvana by 70.5% during the 3rd quarter. Lloyd Advisory Services LLC. now owns 104 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Sandy Cove Advisors LLC purchased a new position in shares of Carvana during the 4th quarter valued at $33,000. Finally, HM Payson & Co. purchased a new position in shares of Carvana during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.
CVNA opened at $138.61 on Thursday. Carvana has a fifty-two week low of $107.50 and a fifty-two week high of $376.83. The company has a debt-to-equity ratio of 6.11, a quick ratio of 0.60 and a current ratio of 1.69. The company has a market capitalization of $23.95 billion, a P/E ratio of -86.63 and a beta of 2.36. The stock has a fifty day moving average of $166.75 and a 200-day moving average of $252.74.
About Carvana (Get Rating)
Carvana Co is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experiences. It operates through the following segments: Vehicle Sales, Wholesale Vehicle Sales, and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle sales to customers through its website.
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