Equities research analysts expect that Copart, Inc. (NASDAQ:CPRT) will announce earnings of $0.58 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Copart’s earnings, with estimates ranging from $0.55 to $0.62. Copart reported earnings per share of $0.47 in the same quarter last year, which would indicate a positive year over year growth rate of 23.4%. The company is expected to issue its next earnings report on Tuesday, November 19th.
According to Zacks, analysts expect that Copart will report full year earnings of $2.67 per share for the current financial year, with EPS estimates ranging from $2.50 to $3.03. For the next financial year, analysts anticipate that the company will report earnings of $2.90 per share, with EPS estimates ranging from $2.70 to $2.98. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Copart.
Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. Copart had a net margin of 28.98% and a return on equity of 32.83%. The business had revenue of $542.60 million during the quarter, compared to analysts’ expectations of $517.84 million. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s quarterly revenue was up 20.8% compared to the same quarter last year.
CPRT has been the subject of several research reports. BidaskClub lowered shares of Copart from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. upped their price objective on shares of Copart from $62.00 to $71.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Robert W. Baird set a $85.00 price objective on shares of Copart and gave the stock a “buy” rating in a report on Friday, September 6th. ValuEngine lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Guggenheim upgraded shares of Copart from a “neutral” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $80.40.
CPRT stock traded down $0.16 during midday trading on Tuesday, reaching $81.46. The company had a trading volume of 1,541,200 shares, compared to its average volume of 1,340,618. The firm has a 50-day moving average price of $81.80 and a 200-day moving average price of $75.82. Copart has a 1 year low of $44.61 and a 1 year high of $85.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.44 and a quick ratio of 2.36. The company has a market capitalization of $19.11 billion, a P/E ratio of 36.20, a P/E/G ratio of 1.54 and a beta of 0.81.
Hedge funds and other institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC bought a new position in Copart in the 3rd quarter worth $25,000. Prime Capital Investment Advisors LLC bought a new position in Copart in the 3rd quarter worth $26,000. Financial Advantage Inc. bought a new position in Copart in the 3rd quarter worth $28,000. Capital Investment Advisory Services LLC purchased a new stake in shares of Copart in the 2nd quarter worth about $29,000. Finally, Griffin Asset Management Inc. purchased a new stake in shares of Copart in the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 80.97% of the company’s stock.
Copart Company Profile
Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
Featured Story: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.