Equities analysts forecast that TrueCar Inc (NASDAQ:TRUE) will report earnings of $0.03 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for TrueCar’s earnings. The highest EPS estimate is $0.05 and the lowest is $0.02. TrueCar reported earnings per share of $0.01 during the same quarter last year, which indicates a positive year over year growth rate of 200%. The company is scheduled to announce its next quarterly earnings results on Tuesday, August 14th.
According to Zacks, analysts expect that TrueCar will report full year earnings of $0.14 per share for the current year, with EPS estimates ranging from $0.10 to $0.20. For the next fiscal year, analysts forecast that the company will post earnings of $0.28 per share, with EPS estimates ranging from $0.17 to $0.36. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover TrueCar.
TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, May 8th. The technology company reported $0.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.01. TrueCar had a negative net margin of 10.69% and a negative return on equity of 8.62%. The business had revenue of $81.06 million for the quarter, compared to analyst estimates of $81.36 million. During the same period last year, the company posted ($0.01) EPS. The business’s revenue was up 7.0% on a year-over-year basis.
A number of research analysts have weighed in on TRUE shares. Stephens set a $18.00 target price on shares of TrueCar and gave the stock a “buy” rating in a research note on Friday, February 16th. B. Riley restated a “buy” rating and set a $18.00 price target on shares of TrueCar in a report on Wednesday, January 24th. Benchmark initiated coverage on shares of TrueCar in a report on Thursday, March 22nd. They set a “buy” rating and a $18.00 price target for the company. Zacks Investment Research upgraded shares of TrueCar from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, DA Davidson initiated coverage on shares of TrueCar in a report on Wednesday, April 4th. They set a “neutral” rating and a $9.75 price target for the company. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.84.
Several hedge funds and other institutional investors have recently made changes to their positions in TRUE. Bank of Montreal Can increased its holdings in shares of TrueCar by 392.6% during the 4th quarter. Bank of Montreal Can now owns 1,000,852 shares of the technology company’s stock worth $11,210,000 after buying an additional 797,658 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in TrueCar by 4.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 348,406 shares of the technology company’s stock valued at $3,903,000 after purchasing an additional 15,258 shares during the last quarter. SG Americas Securities LLC increased its holdings in TrueCar by 712.9% in the 4th quarter. SG Americas Securities LLC now owns 53,556 shares of the technology company’s stock valued at $600,000 after purchasing an additional 46,968 shares during the last quarter. Cowen Prime Services LLC acquired a new stake in TrueCar in the 4th quarter valued at approximately $2,077,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in TrueCar in the 4th quarter valued at approximately $190,000. Institutional investors and hedge funds own 89.93% of the company’s stock.
TrueCar opened at $9.11 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.14 and a current ratio of 7.14. TrueCar has a 1-year low of $8.75 and a 1-year high of $21.75. The company has a market capitalization of $953.81 million, a price-to-earnings ratio of -33.74 and a beta of 2.58.
TrueCar Company Profile
TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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