Zacks: Analysts Expect Carvana Co (NYSE:CVNA) Will Post Earnings of -$0.33 Per Share

Analysts forecast that Carvana Co (NYSE:CVNA) will report earnings of ($0.33) per share for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Carvana’s earnings, with estimates ranging from ($0.66) to ($0.19). Carvana posted earnings of ($0.56) per share in the same quarter last year, which would suggest a positive year over year growth rate of 41.1%. The business is scheduled to issue its next earnings report on Wednesday, November 4th.

Zacks’ EPS calculations are a mean average based on a survey of research firms that follow Carvana.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.86) by $0.24. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.13 billion. Carvana had a negative net margin of 4.10% and a negative return on equity of 83.73%.

Several analysts recently commented on CVNA shares. Goldman Sachs Group upgraded shares of Carvana from a “neutral” rating to a “buy” rating and raised their price target for the company from $178.00 to $205.00 in a research report on Tuesday, September 22nd. JMP Securities raised their price target on shares of Carvana from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, September 23rd. BofA Securities lowered shares of Carvana from a “buy” rating to a “neutral” rating and raised their price target for the company from $150.00 to $230.00 in a research report on Friday, August 7th. William Blair restated a “buy” rating on shares of Carvana in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and set a $235.00 target price on the stock in a research report on Tuesday, September 22nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $179.36.

CVNA stock opened at $226.03 on Friday. The firm has a market cap of $38.57 billion, a PE ratio of -66.28 and a beta of 2.53. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.52 and a current ratio of 4.21. The firm’s fifty day moving average is $194.87 and its 200 day moving average is $122.95. Carvana has a one year low of $22.16 and a one year high of $235.00.

In other Carvana news, insider Paul W. Breaux sold 7,500 shares of Carvana stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $224.00, for a total transaction of $1,680,000.00. Following the transaction, the insider now directly owns 17,153 shares of the company’s stock, valued at $3,842,272. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan S. Keeton sold 10,000 shares of Carvana stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $172.45, for a total transaction of $1,724,500.00. Following the transaction, the insider now directly owns 25,736 shares in the company, valued at $4,438,173.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 626,000 shares of company stock worth $127,483,490. Insiders own 12.25% of the company’s stock.

A number of hedge funds have recently modified their holdings of CVNA. Aperio Group LLC raised its stake in Carvana by 5.6% during the first quarter. Aperio Group LLC now owns 6,110 shares of the company’s stock worth $337,000 after purchasing an additional 323 shares during the period. Swiss National Bank raised its stake in shares of Carvana by 2.4% in the 1st quarter. Swiss National Bank now owns 92,700 shares of the company’s stock valued at $5,107,000 after acquiring an additional 2,200 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Carvana by 349.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,503 shares of the company’s stock valued at $248,000 after acquiring an additional 3,502 shares during the period. State Street Corp raised its stake in shares of Carvana by 0.9% in the 1st quarter. State Street Corp now owns 633,504 shares of the company’s stock valued at $34,900,000 after acquiring an additional 5,551 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Carvana by 5.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,445 shares of the company’s stock valued at $244,000 after acquiring an additional 228 shares during the period. 49.70% of the stock is currently owned by institutional investors.

About Carvana

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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Earnings History and Estimates for Carvana (NYSE:CVNA)

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