Zacks: Brokerages Anticipate Carvana Co (NYSE:CVNA) to Post -$0.39 EPS
Analysts expect Carvana Co (NYSE:CVNA) to post earnings of ($0.39) per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Carvana’s earnings, with the highest EPS estimate coming in at ($0.23) and the lowest estimate coming in at ($0.49). Carvana posted earnings of ($0.37) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.4%. The company is expected to announce its next earnings report after the market closes on Wednesday, August 7th.
Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Carvana.
Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.03). The firm had revenue of $755.23 million during the quarter, compared to analyst estimates of $696.61 million. Carvana had a negative net margin of 3.54% and a negative return on equity of 30.85%.
In related news, insider Daniel J. Gill sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $67.65, for a total value of $845,625.00. Following the completion of the sale, the insider now directly owns 10,683 shares in the company, valued at $722,704.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul W. Breaux sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $62.72, for a total transaction of $627,200.00. Following the completion of the sale, the insider now owns 10,628 shares of the company’s stock, valued at $666,588.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,925,489 shares of company stock valued at $124,765,354. 13.02% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Carvana by 22.3% during the fourth quarter. Bank of America Corp DE now owns 94,059 shares of the company’s stock worth $3,077,000 after buying an additional 17,148 shares during the period. Phoenician Capital LLC lifted its position in shares of Carvana by 7.3% during the first quarter. Phoenician Capital LLC now owns 400,000 shares of the company’s stock worth $23,224,000 after purchasing an additional 27,044 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Carvana by 100.0% during the first quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the company’s stock worth $58,000 after purchasing an additional 500 shares in the last quarter. Raymond James & Associates lifted its position in shares of Carvana by 61.3% during the fourth quarter. Raymond James & Associates now owns 18,410 shares of the company’s stock worth $602,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Carvana during the first quarter worth $656,000. Hedge funds and other institutional investors own 35.90% of the company’s stock.
Shares of NYSE:CVNA traded up $0.82 during trading on Friday, reaching $66.45. The stock had a trading volume of 1,183,321 shares, compared to its average volume of 1,406,394. The firm’s fifty day moving average is $63.47. The company has a current ratio of 1.39, a quick ratio of 0.56 and a debt-to-equity ratio of 2.73. The firm has a market cap of $9.99 billion, a PE ratio of -38.41 and a beta of 2.40. Carvana has a fifty-two week low of $28.44 and a fifty-two week high of $76.85.
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.
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