CarGurus (NASDAQ:CARG) Issues Q3 2019 Earnings Guidance

CarGurus (NASDAQ:CARG) updated its third quarter 2019 earnings guidance on Tuesday. The company provided EPS guidance of $0.08-0.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.10. The company issued revenue guidance of $145.5-148.5 million, compared to the consensus revenue estimate of $146.95 million.CarGurus also updated its FY 2019 guidance to $0.42-0.45 EPS.

Several research firms have recently weighed in on CARG. JMP Securities lowered their price objective on shares of CarGurus to $50.00 and set an outperform rating for the company in a research note on Wednesday. Cowen began coverage on shares of CarGurus in a research note on Monday, May 20th. They issued a market perform rating and a $42.00 price objective for the company. Benchmark reiterated a buy rating and issued a $51.00 price objective on shares of CarGurus in a research note on Friday, May 10th. ValuEngine upgraded shares of CarGurus from a hold rating to a buy rating in a research note on Tuesday. Finally, TheStreet lowered shares of CarGurus from a c- rating to a d+ rating in a research note on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $48.50.

CARG traded down $1.41 during mid-day trading on Friday, reaching $32.51. 62,775 shares of the stock were exchanged, compared to its average volume of 685,211. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $3.64 billion, a PE ratio of 57.04, a PEG ratio of 3.63 and a beta of 1.83. The business has a 50 day moving average of $36.47. CarGurus has a 1 year low of $30.22 and a 1 year high of $57.25.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. The firm had revenue of $145.03 million for the quarter, compared to the consensus estimate of $140.67 million. CarGurus had a net margin of 8.22% and a return on equity of 17.81%. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 EPS. On average, equities research analysts expect that CarGurus will post 0.23 earnings per share for the current fiscal year.

In other CarGurus news, Director Anastasios Parafestas sold 20,000 shares of CarGurus stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $32.91, for a total transaction of $658,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sarah Amory Welch sold 2,500 shares of CarGurus stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $36.00, for a total transaction of $90,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,808,511 shares of company stock worth $101,568,736 over the last ninety days. Insiders own 34.51% of the company’s stock.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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