Copart, Inc. (NASDAQ:CPRT) Expected to Announce Earnings of $1.14 Per Share

Equities analysts predict that Copart, Inc. (NASDAQ:CPRTGet Rating) will report earnings per share (EPS) of $1.14 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Copart’s earnings. The lowest EPS estimate is $1.11 and the highest is $1.20. Copart reported earnings per share of $1.09 during the same quarter last year, which indicates a positive year over year growth rate of 4.6%. The company is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Copart will report full-year earnings of $4.38 per share for the current financial year, with EPS estimates ranging from $4.30 to $4.46. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.67 per share, with EPS estimates ranging from $4.55 to $4.83. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Copart.

Copart (NASDAQ:CPRTGet Rating) last posted its quarterly earnings results on Wednesday, February 16th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.04 by $0.06. Copart had a net margin of 34.51% and a return on equity of 28.18%. The company had revenue of $867.46 million during the quarter, compared to analysts’ expectations of $806.99 million. During the same quarter in the previous year, the business posted $0.80 EPS. The firm’s revenue was up 40.6% on a year-over-year basis.

CPRT has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Copart in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Robert W. Baird decreased their target price on shares of Copart from $170.00 to $160.00 in a research report on Friday, February 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $162.33.

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley boosted its position in shares of Copart by 13.2% in the second quarter. Morgan Stanley now owns 585,925 shares of the business services provider’s stock valued at $77,242,000 after acquiring an additional 68,539 shares during the period. Sigma Planning Corp bought a new position in shares of Copart during the third quarter valued at $309,000. GWM Advisors LLC bought a new position in shares of Copart during the third quarter valued at $201,000. Nordea Investment Management AB lifted its holdings in shares of Copart by 101.0% during the third quarter. Nordea Investment Management AB now owns 90,652 shares of the business services provider’s stock valued at $12,880,000 after acquiring an additional 45,543 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Copart by 9.5% during the third quarter. SG Americas Securities LLC now owns 16,438 shares of the business services provider’s stock valued at $2,280,000 after acquiring an additional 1,431 shares during the period. Institutional investors own 80.86% of the company’s stock.

Shares of CPRT traded up $2.06 during trading hours on Monday, reaching $118.21. The company had a trading volume of 948,849 shares, compared to its average volume of 1,290,990. The firm has a 50 day simple moving average of $122.34 and a 200-day simple moving average of $136.00. The company has a current ratio of 5.24, a quick ratio of 5.11 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $28.07 billion, a price-to-earnings ratio of 26.15 and a beta of 1.13. Copart has a 12-month low of $106.37 and a 12-month high of $161.12.

Copart Company Profile (Get Rating)

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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