Carvana Co (NYSE:CVNA) Expected to Announce Earnings of -$0.63 Per Share

Brokerages expect Carvana Co (NYSE:CVNA) to report ($0.63) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Carvana’s earnings, with the highest EPS estimate coming in at ($0.51) and the lowest estimate coming in at ($0.77). Carvana reported earnings of ($0.55) per share during the same quarter last year, which indicates a negative year over year growth rate of 14.5%. The business is scheduled to report its next quarterly earnings report on Wednesday, February 26th.

Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Carvana.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.17). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $997.46 million. Carvana had a negative net margin of 3.59% and a negative return on equity of 57.46%. Carvana’s revenue was up 104.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.40) earnings per share.

A number of brokerages recently commented on CVNA. Oppenheimer began coverage on Carvana in a research note on Thursday, September 19th. They set an “outperform” rating and a $95.00 price objective for the company. Needham & Company LLC began coverage on Carvana in a research note on Thursday, September 12th. They set a “buy” rating and a $105.00 price objective for the company. BMO Capital Markets upped their price objective on Carvana from $65.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, August 8th. Cowen restated an “outperform” rating and set a $85.00 price objective (up from $81.00) on shares of Carvana in a research note on Thursday, August 8th. Finally, ValuEngine downgraded Carvana from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Carvana currently has a consensus rating of “Hold” and an average price target of $79.40.

CVNA traded up $3.57 during trading on Tuesday, reaching $81.57. 1,197,024 shares of the company were exchanged, compared to its average volume of 1,595,560. The stock has a market cap of $11.82 billion, a P/E ratio of -47.15 and a beta of 2.20. The firm has a 50 day moving average of $74.65 and a 200 day moving average of $70.37. The company has a current ratio of 2.16, a quick ratio of 0.92 and a debt-to-equity ratio of 2.78. Carvana has a 52 week low of $28.44 and a 52 week high of $85.97.

In other Carvana news, Director Ira J. Platt sold 13,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $82.54, for a total transaction of $1,073,020.00. Following the completion of the transaction, the director now owns 35,382 shares in the company, valued at approximately $2,920,430.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira J. Platt sold 10,700 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $84.51, for a total value of $904,257.00. Following the transaction, the director now owns 33,082 shares of the company’s stock, valued at approximately $2,795,759.82. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $2,087,127 in the last quarter. 13.02% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Resources Investment Advisors LLC. lifted its holdings in shares of Carvana by 150.0% in the second quarter. Resources Investment Advisors LLC. now owns 500 shares of the company’s stock valued at $31,000 after buying an additional 300 shares during the period. Aperio Group LLC acquired a new stake in shares of Carvana in the second quarter valued at $75,000. FNY Investment Advisers LLC lifted its holdings in shares of Carvana by 12,800.0% in the second quarter. FNY Investment Advisers LLC now owns 1,290 shares of the company’s stock valued at $80,000 after buying an additional 1,280 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Carvana in the second quarter valued at $118,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Carvana in the second quarter valued at $158,000. Institutional investors own 37.11% of the company’s stock.

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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