CoStar Group, Inc. (CSGP) to Release Quarterly Earnings on Tuesday
CoStar Group, Inc. (NASDAQ:CSGP) is set to announce its earnings results after the market closes on Tuesday, October 24th. Analysts expect the company to announce earnings of $1.20 per share for the quarter. CoStar Group has set its Q3 guidance at $1.09-$1.15 EPS and its FY17 guidance at $4.42-$4.52 EPS.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.63 by $0.23. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The company had revenue of $237.20 million for the quarter, compared to analyst estimates of $234.38 million. During the same period last year, the company earned $0.91 earnings per share. CoStar Group’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, analysts expect CoStar Group to post $3.64 EPS for the current fiscal year and $5.16 EPS for the next fiscal year.
Shares of CoStar Group, Inc. (CSGP) opened at 286.22 on Tuesday. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 96.08 and a beta of 1.52. The firm has a 50-day moving average price of $278.62 and a 200 day moving average price of $260.92. CoStar Group, Inc. has a one year low of $179.21 and a one year high of $291.95.
Several analysts have recently commented on the stock. Citigroup Inc. set a $320.00 price target on shares of CoStar Group and gave the company a “buy” rating in a research note on Friday, July 28th. SunTrust Banks, Inc. reissued a “buy” rating and set a $310.00 price target on shares of CoStar Group in a research note on Wednesday, September 13th. Bank of America Corporation reissued a “buy” rating and set a $306.00 price target on shares of CoStar Group in a research note on Thursday, October 5th. Zacks Investment Research cut shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, B. Riley reissued a “buy” rating and set a $325.00 price target on shares of CoStar Group in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $312.57.
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In other news, VP Matthew Linnington sold 1,767 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $273.15, for a total transaction of $482,656.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.98% of the stock is owned by corporate insiders.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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