Analysts expect that Cars.com Inc. (NYSE:CARS – Get Rating) will post sales of $157.20 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Cars.com’s earnings, with estimates ranging from $156.60 million to $157.80 million. Cars.com reported sales of $153.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Cars.com will report full-year sales of $661.48 million for the current year, with estimates ranging from $660.30 million to $662.66 million. For the next fiscal year, analysts forecast that the company will post sales of $716.51 million, with estimates ranging from $700.30 million to $732.71 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Cars.com.
Separately, Northcoast Research assumed coverage on Cars.com in a report on Wednesday, February 2nd. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Cars.com presently has a consensus rating of “Buy” and an average price target of $21.00.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Cars.com by 118.1% in the fourth quarter. BlackRock Inc. now owns 10,303,274 shares of the company’s stock worth $165,779,000 after purchasing an additional 5,579,783 shares during the last quarter. Border to Coast Pensions Partnership Ltd raised its position in Cars.com by 3.6% in the 4th quarter. Border to Coast Pensions Partnership Ltd now owns 4,020,785 shares of the company’s stock worth $47,764,351,000 after buying an additional 138,872 shares during the last quarter. Boston Private Wealth LLC purchased a new position in Cars.com in the 4th quarter worth about $40,231,000. State Street Corp raised its position in Cars.com by 57.5% in the 4th quarter. State Street Corp now owns 2,261,309 shares of the company’s stock worth $36,384,000 after buying an additional 825,396 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its position in Cars.com by 7.8% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 1,246,483 shares of the company’s stock worth $15,768,000 after buying an additional 90,500 shares during the last quarter. 94.65% of the stock is owned by institutional investors.
Shares of Cars.com stock opened at $12.67 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $876.38 million, a price-to-earnings ratio of 126.71 and a beta of 2.00. The firm’s 50-day moving average price is $14.70. Cars.com has a 12 month low of $11.53 and a 12 month high of $19.09.
About Cars.com (Get Rating)
Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.
- Get a free copy of the StockNews.com research report on Cars.com (CARS)
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