Brokerages Expect Chegg, Inc. (NYSE:CHGG) Will Post Quarterly Sales of $202.98 Million

Equities analysts predict that Chegg, Inc. (NYSE:CHGG – Get Rating) will report sales of $202.98 million for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Chegg’s earnings. The lowest sales estimate is $201.30 million and the highest is $206.99 million. Chegg reported sales of $198.38 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The company is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Chegg will report full-year sales of $842.92 million for the current year, with estimates ranging from $839.85 million to $855.03 million. For the next financial year, analysts forecast that the firm will post sales of $974.78 million, with estimates ranging from $945.35 million to $1.00 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Chegg.

Chegg (NYSE:CHGG – Get Rating) last issued its earnings results on Monday, February 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $207.47 million for the quarter, compared to analyst estimates of $195.20 million. Chegg had a negative net margin of 0.19% and a positive return on equity of 8.17%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 EPS.

Several equities research analysts recently issued reports on CHGG shares. Craig Hallum dropped their price target on Chegg from $50.00 to $35.00 and set a “hold” rating on the stock in a research report on Tuesday, February 8th. Zacks Investment Research upgraded shares of Chegg from a “sell” rating to a “hold” rating in a research report on Friday, February 11th. StockNews.com started coverage on shares of Chegg in a report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley increased their target price on Chegg from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 8th. Finally, KeyCorp lowered shares of Chegg from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 12th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $66.92.

NYSE:CHGG opened at $25.70 on Friday. Chegg has a 52 week low of $23.23 and a 52 week high of $96.94. The company has a quick ratio of 14.19, a current ratio of 14.19 and a debt-to-equity ratio of 1.52. The company has a market cap of $3.26 billion, a PE ratio of -285.52, a P/E/G ratio of 2.58 and a beta of 0.92. The business’s 50 day moving average is $31.98 and its two-hundred day moving average is $33.14.

Hedge funds have recently bought and sold shares of the business. KRS Capital Management LLC purchased a new position in shares of Chegg in the fourth quarter worth approximately $45,000. Quadrant Capital Group LLC lifted its position in shares of Chegg by 2,703.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the technology company’s stock valued at $46,000 after acquiring an additional 1,433 shares in the last quarter. Signaturefd LLC raised its position in Chegg by 501.9% during the fourth quarter. Signaturefd LLC now owns 3,202 shares of the technology company’s stock valued at $98,000 after buying an additional 2,670 shares during the period. CastleArk Alternatives LLC purchased a new stake in Chegg in the 3rd quarter worth about $147,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Chegg by 115.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,827 shares of the technology company’s stock worth $148,000 after acquiring an additional 2,585 shares during the period. 87.98% of the stock is owned by institutional investors.

About Chegg (Get Rating)

Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

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