TrueCar Inc (TRUE) Expected to Announce Quarterly Sales of $96.16 Million
Equities analysts expect TrueCar Inc (NASDAQ:TRUE) to announce sales of $96.16 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for TrueCar’s earnings, with the lowest sales estimate coming in at $95.92 million and the highest estimate coming in at $96.49 million. TrueCar reported sales of $83.13 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.7%. The business is expected to report its next earnings report on Thursday, February 21st.
According to Zacks, analysts expect that TrueCar will report full-year sales of $358.62 million for the current fiscal year, with estimates ranging from $358.38 million to $358.98 million. For the next fiscal year, analysts expect that the company will post sales of $413.93 million, with estimates ranging from $405.39 million to $423.98 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover TrueCar.
TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Tuesday, November 6th. The technology company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $93.59 million for the quarter, compared to the consensus estimate of $93.89 million. TrueCar had a negative return on equity of 7.56% and a negative net margin of 8.80%. The company’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS.
TRUE stock traded down $0.08 during midday trading on Friday, reaching $9.55. 237,049 shares of the stock were exchanged, compared to its average volume of 464,650. The firm has a market capitalization of $996.36 million, a P/E ratio of -35.37 and a beta of 2.39. TrueCar has a 52 week low of $8.03 and a 52 week high of $14.55. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.07.
In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of TrueCar stock in a transaction dated Tuesday, December 18th. The stock was sold at an average price of $9.63, for a total transaction of $73,852.47. Following the transaction, the executive vice president now directly owns 123,992 shares of the company’s stock, valued at approximately $1,194,042.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 9,168 shares of company stock worth $91,063 over the last ninety days. Company insiders own 5.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in TRUE. BlackRock Inc. lifted its holdings in TrueCar by 33.2% during the 2nd quarter. BlackRock Inc. now owns 6,139,516 shares of the technology company’s stock worth $61,948,000 after buying an additional 1,530,730 shares during the period. Senvest Management LLC lifted its stake in shares of TrueCar by 11.3% in the 2nd quarter. Senvest Management LLC now owns 8,126,025 shares of the technology company’s stock valued at $81,992,000 after purchasing an additional 821,933 shares during the period. Ontario Teachers Pension Plan Board lifted its stake in shares of TrueCar by 11.4% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 5,850,000 shares of the technology company’s stock valued at $82,485,000 after purchasing an additional 600,000 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of TrueCar in the 3rd quarter valued at about $6,630,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of TrueCar by 463.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 423,468 shares of the technology company’s stock valued at $5,971,000 after purchasing an additional 348,334 shares during the period. 96.24% of the stock is currently owned by hedge funds and other institutional investors.
TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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