Q1 2023 Earnings Estimate for Copart, Inc. (NASDAQ:CPRT) Issued By Jefferies Financial Group

Copart, Inc. (NASDAQ:CPRTGet Rating) – Stock analysts at Jefferies Financial Group lowered their Q1 2023 EPS estimates for shares of Copart in a report issued on Thursday, September 8th. Jefferies Financial Group analyst B. Jordan now forecasts that the business services provider will earn $1.06 per share for the quarter, down from their previous estimate of $1.08. The consensus estimate for Copart’s current full-year earnings is $4.74 per share. Jefferies Financial Group also issued estimates for Copart’s Q2 2023 earnings at $1.13 EPS, FY2023 earnings at $4.64 EPS, Q2 2024 earnings at $1.20 EPS and Q3 2024 earnings at $1.32 EPS.

CPRT has been the subject of several other research reports. Guggenheim reduced their price target on shares of Copart to $151.00 in a research report on Friday, May 20th. Robert W. Baird cut their target price on shares of Copart from $150.00 to $135.00 in a research report on Friday. Finally, Stephens increased their target price on shares of Copart to $145.00 and gave the stock an “overweight” rating in a research report on Friday, May 20th.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $116.11 on Monday. The company has a market cap of $27.60 billion, a PE ratio of 25.63 and a beta of 1.16. Copart has a 52 week low of $102.21 and a 52 week high of $161.12. The firm has a 50 day simple moving average of $121.92 and a 200 day simple moving average of $118.24.

Copart (NASDAQ:CPRTGet Rating) last issued its quarterly earnings results on Wednesday, September 7th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $883.39 million during the quarter, compared to the consensus estimate of $874.14 million. Copart had a net margin of 31.14% and a return on equity of 25.53%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CPRT. Norges Bank acquired a new position in shares of Copart during the 4th quarter worth $279,931,000. Principal Financial Group Inc. grew its stake in Copart by 19.5% in the 1st quarter. Principal Financial Group Inc. now owns 9,516,210 shares of the business services provider’s stock valued at $1,194,000,000 after buying an additional 1,552,884 shares during the last quarter. Boston Partners acquired a new position in Copart in the 1st quarter valued at $137,142,000. FMR LLC grew its stake in Copart by 23.0% in the 2nd quarter. FMR LLC now owns 4,879,233 shares of the business services provider’s stock valued at $530,178,000 after buying an additional 913,619 shares during the last quarter. Finally, Flossbach Von Storch AG grew its stake in Copart by 759.1% in the 1st quarter. Flossbach Von Storch AG now owns 781,744 shares of the business services provider’s stock valued at $98,085,000 after buying an additional 690,744 shares during the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.

About Copart

(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.

See Also

Earnings History and Estimates for Copart (NASDAQ:CPRT)

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