Wall Street brokerages expect Carvana Co (NYSE:CVNA) to post $984.38 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Carvana’s earnings, with the highest sales estimate coming in at $1.02 billion and the lowest estimate coming in at $931.20 million. Carvana reported sales of $534.92 million in the same quarter last year, which indicates a positive year-over-year growth rate of 84%. The business is expected to report its next quarterly earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Carvana will report full-year sales of $3.74 billion for the current year, with estimates ranging from $3.57 billion to $3.83 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.59 billion, with estimates ranging from $5.23 billion to $6.41 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Carvana.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.01). The firm had revenue of $986.22 million during the quarter, compared to the consensus estimate of $914.50 million. Carvana had a negative net margin of 3.49% and a negative return on equity of 30.55%. The firm’s quarterly revenue was up 107.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.37) earnings per share.

A number of analysts recently commented on CVNA shares. BMO Capital Markets lifted their price objective on Carvana from $65.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. JMP Securities upped their target price on shares of Carvana from $64.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Bank of America reaffirmed a “buy” rating and issued a $86.00 target price (up previously from $82.00) on shares of Carvana in a research note on Thursday, August 8th. Cowen reaffirmed an “outperform” rating and issued a $85.00 target price (up previously from $81.00) on shares of Carvana in a research note on Thursday, August 8th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $85.00 price target on shares of Carvana in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $73.64.

Shares of CVNA traded down $5.49 during trading hours on Friday, hitting $77.51. 2,648,363 shares of the stock traded hands, compared to its average volume of 1,719,163. The business has a fifty day moving average of $74.70 and a 200-day moving average of $64.26. The firm has a market capitalization of $12.64 billion, a PE ratio of -44.80 and a beta of 2.22. Carvana has a 1-year low of $28.44 and a 1-year high of $85.07. The company has a current ratio of 3.83, a quick ratio of 1.40 and a debt-to-equity ratio of 2.10.

In other news, CFO Mark W. Jenkins sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $80.06, for a total value of $3,202,400.00. Following the completion of the sale, the chief financial officer now directly owns 52,049 shares of the company’s stock, valued at approximately $4,167,042.94. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ira J. Platt sold 10,700 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $84.51, for a total transaction of $904,257.00. Following the completion of the sale, the director now owns 33,082 shares in the company, valued at $2,795,759.82. The disclosure for this sale can be found here. Insiders sold 189,861 shares of company stock worth $14,527,351 in the last three months. Insiders own 13.02% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC raised its stake in Carvana by 12,800.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,290 shares of the company’s stock worth $80,000 after buying an additional 1,280 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Carvana in the 2nd quarter valued at approximately $118,000. Gamco Investors INC. ET AL acquired a new position in shares of Carvana in the 1st quarter valued at approximately $656,000. Advisor Group Inc. increased its stake in Carvana by 993.4% during the 1st quarter. Advisor Group Inc. now owns 17,342 shares of the company’s stock worth $1,006,000 after purchasing an additional 15,756 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Carvana by 1.4% during the 1st quarter. First Trust Advisors LP now owns 201,433 shares of the company’s stock worth $11,695,000 after purchasing an additional 2,815 shares in the last quarter. Hedge funds and other institutional investors own 37.05% of the company’s stock.

Carvana Company Profile

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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