Inc. (NYSE:CARS) Expected to Announce Quarterly Sales of $157.58 Million

Wall Street analysts forecast that Inc. (NYSE:CARS) will report $157.58 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for’s earnings, with the lowest sales estimate coming in at $157.06 million and the highest estimate coming in at $158.10 million. reported sales of $153.01 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The business is scheduled to report its next quarterly earnings report on Thursday, February 24th.

On average, analysts expect that will report full-year sales of $622.97 million for the current year, with estimates ranging from $622.44 million to $623.50 million. For the next year, analysts expect that the firm will report sales of $654.18 million, with estimates ranging from $646.36 million to $662.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow (NYSE:CARS) last announced its quarterly earnings data on Thursday, November 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). had a return on equity of 4.48% and a net margin of 3.38%. The firm had revenue of $156.55 million for the quarter, compared to analyst estimates of $156.39 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis.

A number of research analysts recently issued reports on CARS shares. TheStreet upgraded shares of from a “d” rating to a “c-” rating in a report on Wednesday, October 13th. Barrington Research reiterated an “outperform” rating on shares of in a report on Friday, October 29th. Finally, DA Davidson raised their price objective on shares of from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, November 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.50.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of by 6.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,105,090 shares of the company’s stock worth $15,836,000 after purchasing an additional 66,759 shares during the period. Border to Coast Pensions Partnership Ltd bought a new stake in in the 2nd quarter valued at about $40,267,693,000. FMR LLC raised its stake in by 32.6% in the 2nd quarter. FMR LLC now owns 988,356 shares of the company’s stock valued at $14,163,000 after acquiring an additional 243,222 shares during the period. Vanguard Group Inc. raised its stake in by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 6,755,367 shares of the company’s stock valued at $96,805,000 after acquiring an additional 289,883 shares during the period. Finally, Monarch Partners Asset Management LLC raised its stake in by 74.6% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 300,275 shares of the company’s stock valued at $3,798,000 after acquiring an additional 128,320 shares during the period. Institutional investors own 89.18% of the company’s stock.

NYSE CARS traded up $0.06 during trading hours on Friday, reaching $16.41. The company’s stock had a trading volume of 410,286 shares, compared to its average volume of 475,799. The firm has a fifty day simple moving average of $15.48 and a 200-day simple moving average of $13.76. The stock has a market cap of $1.13 billion, a P/E ratio of 56.59 and a beta of 2.13. has a 52 week low of $10.73 and a 52 week high of $19.09. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.68 and a quick ratio of 1.68. Company Profile Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.

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