Carvana Co to Post Q2 2020 Earnings of ($0.85) Per Share, William Blair Forecasts (NYSE:CVNA)
Carvana Co (NYSE:CVNA) – Investment analysts at William Blair cut their Q2 2020 earnings per share estimates for Carvana in a research report issued on Tuesday, July 28th. William Blair analyst S. Zackfia now expects that the company will post earnings of ($0.85) per share for the quarter, down from their previous estimate of ($0.84). William Blair has a “Buy” rating on the stock. William Blair also issued estimates for Carvana’s Q4 2020 earnings at ($0.62) EPS, FY2020 earnings at ($3.33) EPS and FY2021 earnings at ($2.57) EPS.
Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 6th. The company reported ($1.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.55). Carvana had a negative net margin of 3.89% and a negative return on equity of 127.13%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business earned ($0.53) earnings per share. Carvana’s revenue was up 45.4% on a year-over-year basis.
NYSE:CVNA opened at $154.95 on Friday. Carvana has a 52 week low of $22.16 and a 52 week high of $157.74. The company has a quick ratio of 0.49, a current ratio of 1.24 and a debt-to-equity ratio of 82.86. The stock has a market capitalization of $26.40 billion, a PE ratio of -45.98 and a beta of 2.39. The stock’s 50-day moving average price is $131.36 and its 200-day moving average price is $93.31.
Hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Carvana by 516.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,592 shares of the company’s stock valued at $538,000 after buying an additional 4,685 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in Carvana in the first quarter valued at approximately $270,000. Westpac Banking Corp purchased a new stake in Carvana in the first quarter valued at approximately $1,685,000. Swiss National Bank raised its position in Carvana by 2.4% in the first quarter. Swiss National Bank now owns 92,700 shares of the company’s stock valued at $5,107,000 after purchasing an additional 2,200 shares during the period. Finally, State Street Corp raised its position in Carvana by 0.9% in the first quarter. State Street Corp now owns 633,504 shares of the company’s stock valued at $34,900,000 after purchasing an additional 5,551 shares during the period. 50.60% of the stock is currently owned by hedge funds and other institutional investors.
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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