Zacks: Brokerages Anticipate Copart, Inc. (NASDAQ:CPRT) Will Post Earnings of $0.65 Per Share

Equities research analysts expect Copart, Inc. (NASDAQ:CPRT) to announce $0.65 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Copart’s earnings, with estimates ranging from $0.62 to $0.68. Copart reported earnings of $0.52 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The company is expected to report its next quarterly earnings report on Wednesday, February 19th.

On average, analysts expect that Copart will report full year earnings of $2.75 per share for the current fiscal year, with EPS estimates ranging from $2.63 to $2.85. For the next year, analysts forecast that the company will post earnings of $3.08 per share, with EPS estimates ranging from $2.95 to $3.14. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Copart.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, November 20th. The business services provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.06. Copart had a net margin of 32.59% and a return on equity of 34.06%. The firm had revenue of $554.40 million during the quarter, compared to the consensus estimate of $544.46 million. During the same quarter last year, the firm earned $0.47 earnings per share. The firm’s revenue was up 20.2% compared to the same quarter last year.

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Copart from $62.00 to $71.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Robert W. Baird set a $85.00 price objective on Copart and gave the stock a “buy” rating in a report on Friday, September 6th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a report on Wednesday, September 11th. ValuEngine downgraded Copart from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, SunTrust Banks raised their target price on Copart from $92.00 to $100.00 and gave the company an “average” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $85.60.

NASDAQ CPRT traded down $0.77 on Thursday, hitting $87.19. 288,754 shares of the company’s stock were exchanged, compared to its average volume of 1,799,631. The firm has a market cap of $20.36 billion, a price-to-earnings ratio of 38.75, a P/E/G ratio of 1.62 and a beta of 0.81. The firm’s 50-day moving average price is $84.73 and its two-hundred day moving average price is $78.19. Copart has a fifty-two week low of $44.61 and a fifty-two week high of $92.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.30 and a quick ratio of 2.24.

In other news, CEO A Jayson Adair sold 327,318 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $90.49, for a total transaction of $29,619,005.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 14.34% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its stake in Copart by 370.6% in the 3rd quarter. Millennium Management LLC now owns 624,793 shares of the business services provider’s stock valued at $50,189,000 after acquiring an additional 492,028 shares during the last quarter. Man Group plc boosted its position in Copart by 70.9% during the third quarter. Man Group plc now owns 139,061 shares of the business services provider’s stock worth $11,171,000 after purchasing an additional 57,699 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Copart by 1,237.4% in the third quarter. Squarepoint Ops LLC now owns 164,526 shares of the business services provider’s stock valued at $13,216,000 after purchasing an additional 152,224 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Copart by 75.6% in the third quarter. Voloridge Investment Management LLC now owns 114,210 shares of the business services provider’s stock valued at $9,174,000 after purchasing an additional 49,185 shares during the last quarter. Finally, National Pension Service raised its position in shares of Copart by 5.4% in the third quarter. National Pension Service now owns 319,313 shares of the business services provider’s stock valued at $25,650,000 after purchasing an additional 16,463 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

About Copart

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.

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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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