Zacks: Brokerages Expect TrueCar, Inc. (NASDAQ:TRUE) to Announce -$0.09 Earnings Per Share

Wall Street analysts expect TrueCar, Inc. (NASDAQ:TRUEGet Rating) to post earnings of ($0.09) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for TrueCar’s earnings. TrueCar posted earnings per share of ($0.04) during the same quarter last year, which indicates a negative year over year growth rate of 125%. The firm is scheduled to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that TrueCar will report full-year earnings of ($0.33) per share for the current year, with EPS estimates ranging from ($0.34) to ($0.31). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.29) per share, with EPS estimates ranging from ($0.29) to ($0.28). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for TrueCar.

TrueCar (NASDAQ:TRUEGet Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The technology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The business had revenue of $45.86 million for the quarter, compared to the consensus estimate of $53.78 million. TrueCar had a negative net margin of 16.54% and a negative return on equity of 10.95%.

A number of equities analysts have weighed in on the company. Craig Hallum downgraded TrueCar from a “buy” rating to a “hold” rating and reduced their price target for the stock from $6.00 to $3.50 in a research report on Wednesday, February 23rd. Benchmark dropped their target price on TrueCar from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, February 24th. StockNews.com began coverage on TrueCar in a research report on Thursday, March 31st. They set a “hold” rating for the company. Northcoast Research began coverage on TrueCar in a research note on Wednesday, February 2nd. They issued a “neutral” rating for the company. Finally, Zacks Investment Research raised TrueCar from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.25.

TRUE opened at $3.69 on Monday. The business’s fifty day simple moving average is $3.67. TrueCar has a fifty-two week low of $3.00 and a fifty-two week high of $6.22. The firm has a market capitalization of $345.34 million, a P/E ratio of -9.46 and a beta of 1.01.

Several hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new stake in shares of TrueCar in the third quarter worth about $41,000. Pinnacle Wealth Planning Services Inc. bought a new position in TrueCar in the first quarter worth approximately $49,000. Allspring Global Investments Holdings LLC bought a new position in TrueCar during the 4th quarter worth about $43,000. Walleye Trading LLC purchased a new position in shares of TrueCar in the 4th quarter valued at $49,000. Finally, Teacher Retirement System of Texas raised its holdings in TrueCar by 20.3% in the third quarter. Teacher Retirement System of Texas now owns 15,083 shares of the technology company’s stock worth $63,000 after purchasing an additional 2,540 shares in the last quarter.

TrueCar Company Profile (Get Rating)

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.

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