Carvana Co (NYSE:CVNA) – Equities research analysts at William Blair reduced their FY2019 earnings per share estimates for shares of Carvana in a report issued on Wednesday, November 6th, according to Zacks Investment Research. William Blair analyst S. Zackfia now forecasts that the company will post earnings of ($2.20) per share for the year, down from their previous estimate of ($1.89). William Blair also issued estimates for Carvana’s Q4 2019 earnings at ($0.70) EPS and FY2020 earnings at ($2.03) EPS.
Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.17). Carvana had a negative return on equity of 57.46% and a negative net margin of 3.59%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $997.46 million. During the same period in the prior year, the firm posted ($0.40) EPS. The firm’s revenue for the quarter was up 104.7% on a year-over-year basis.
CVNA has been the topic of a number of other reports. ValuEngine lowered Carvana from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Oppenheimer began coverage on Carvana in a research note on Thursday, September 19th. They set an “outperform” rating and a $95.00 price objective on the stock. Morgan Stanley reiterated an “underweight” rating and set a $30.00 price objective (up from $29.00) on shares of Carvana in a research note on Tuesday, October 15th. Needham & Company LLC initiated coverage on Carvana in a research note on Thursday, September 12th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Bank of America restated a “buy” rating and issued a $86.00 target price (up from $82.00) on shares of Carvana in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $79.07.
CVNA stock traded up $0.40 during midday trading on Monday, hitting $92.36. The company’s stock had a trading volume of 1,117,239 shares, compared to its average volume of 1,675,933. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of -53.39 and a beta of 2.21. The stock’s 50-day moving average price is $82.82 and its 200 day moving average price is $72.26. The company has a quick ratio of 0.92, a current ratio of 2.16 and a debt-to-equity ratio of 2.78. Carvana has a 1 year low of $28.44 and a 1 year high of $96.44.
In other news, Director Ira J. Platt sold 734 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $87.50, for a total value of $64,225.00. Following the completion of the transaction, the director now directly owns 23,115 shares in the company, valued at approximately $2,022,562.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira J. Platt sold 10,700 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $84.51, for a total value of $904,257.00. Following the completion of the transaction, the director now owns 33,082 shares of the company’s stock, valued at $2,795,759.82. The disclosure for this sale can be found here. Insiders sold a total of 89,631 shares of company stock worth $8,019,539 over the last 90 days. Corporate insiders own 13.02% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Carvana by 28.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,859,649 shares of the company’s stock valued at $241,576,000 after acquiring an additional 846,994 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Carvana by 8.6% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,209,600 shares of the company’s stock valued at $75,709,000 after acquiring an additional 95,600 shares during the period. Bank of New York Mellon Corp boosted its holdings in Carvana by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,015,314 shares of the company’s stock valued at $63,547,000 after acquiring an additional 10,518 shares during the period. State Street Corp boosted its holdings in Carvana by 13.3% during the 3rd quarter. State Street Corp now owns 611,873 shares of the company’s stock valued at $40,384,000 after acquiring an additional 71,714 shares during the period. Finally, Balyasny Asset Management LLC boosted its holdings in Carvana by 39.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 591,518 shares of the company’s stock valued at $37,023,000 after acquiring an additional 168,212 shares during the period. Hedge funds and other institutional investors own 41.51% of the company’s stock.
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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