CoStar Group, Inc. (CSGP) Forecasted to Post Q3 2017 Earnings of $0.96 Per Share
CoStar Group, Inc. (NASDAQ:CSGP) – Analysts at B. Riley issued their Q3 2017 EPS estimates for CoStar Group in a note issued to investors on Monday. B. Riley analyst M. Crawford anticipates that the technology company will earn $0.96 per share for the quarter. B. Riley currently has a “Buy” rating and a $335.00 target price on the stock. B. Riley also issued estimates for CoStar Group’s Q4 2017 earnings at $1.11 EPS, FY2017 earnings at $3.60 EPS, Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $1.08 EPS, Q3 2018 earnings at $1.41 EPS, Q4 2018 earnings at $1.77 EPS and FY2018 earnings at $5.37 EPS.
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $310.00 price objective on shares of CoStar Group in a research note on Wednesday, September 13th. Needham & Company LLC increased their price objective on shares of CoStar Group from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. BidaskClub upgraded shares of CoStar Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Finally, Citigroup Inc. set a $320.00 price objective on shares of CoStar Group and gave the stock a “buy” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company. CoStar Group has an average rating of “Buy” and a consensus price target of $313.67.
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CoStar Group (NASDAQ CSGP) opened at 271.79 on Wednesday. The company has a market cap of $8.92 billion, a P/E ratio of 91.24 and a beta of 1.51. The firm’s 50 day moving average is $278.82 and its 200-day moving average is $256.78. CoStar Group has a 52 week low of $179.22 and a 52 week high of $287.96.
CoStar Group (NASDAQ:CSGP) last announced its earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.23. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. The business had revenue of $237.20 million during the quarter, compared to the consensus estimate of $234.38 million. During the same quarter last year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wisconsin Investment Board boosted its holdings in CoStar Group by 33.7% during the second quarter. State of Wisconsin Investment Board now owns 27,761 shares of the technology company’s stock worth $7,318,000 after buying an additional 7,000 shares in the last quarter. Victory Capital Management Inc. purchased a new position in CoStar Group during the first quarter valued at $1,160,000. Legal & General Group Plc lifted its holdings in CoStar Group by 46.5% during the first quarter. Legal & General Group Plc now owns 30,209 shares of the technology company’s stock valued at $6,260,000 after purchasing an additional 9,589 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in CoStar Group by 13.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 9,324 shares of the technology company’s stock valued at $2,458,000 after purchasing an additional 1,135 shares in the last quarter. Finally, KBC Group NV lifted its holdings in CoStar Group by 25.8% during the second quarter. KBC Group NV now owns 4,528 shares of the technology company’s stock valued at $1,194,000 after purchasing an additional 930 shares in the last quarter. 99.84% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Matthew Linnington sold 1,767 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $273.15, for a total transaction of $482,656.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.98% of the company’s stock.
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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